Chartwell Investment Partners LLC Has $2.92 Million Stock Holdings in Palo Alto Networks Inc (NYSE:PANW)

Chartwell Investment Partners LLC trimmed its stake in Palo Alto Networks Inc (NYSE:PANW) by 32.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,692 shares of the network technology company’s stock after selling 5,975 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Palo Alto Networks were worth $2,915,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PANW. Prime Capital Investment Advisors LLC grew its holdings in Palo Alto Networks by 1,500.0% during the second quarter. Prime Capital Investment Advisors LLC now owns 160 shares of the network technology company’s stock worth $37,000 after purchasing an additional 150 shares during the period. Cornerstone Advisors Inc. boosted its stake in shares of Palo Alto Networks by 68.7% during the 2nd quarter. Cornerstone Advisors Inc. now owns 167 shares of the network technology company’s stock worth $38,000 after acquiring an additional 68 shares during the period. Clean Yield Group acquired a new position in shares of Palo Alto Networks during the 1st quarter worth approximately $30,000. Farmers & Merchants Investments Inc. lifted its holdings in Palo Alto Networks by 2,150.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 225 shares of the network technology company’s stock valued at $37,000 after purchasing an additional 215 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Palo Alto Networks by 34.3% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 290 shares of the network technology company’s stock worth $48,000 after purchasing an additional 74 shares during the period. 77.40% of the stock is currently owned by hedge funds and other institutional investors.

PANW has been the subject of a number of research reports. Wells Fargo & Co raised their target price on shares of Palo Alto Networks from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Bank of America restated a “neutral” rating and set a $255.00 price objective (up from $200.00) on shares of Palo Alto Networks in a research report on Friday, May 22nd. Monness Crespi & Hardt upped their target price on Palo Alto Networks from $210.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $270.00 target price on shares of Palo Alto Networks in a research report on Tuesday, July 28th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Palo Alto Networks in a research report on Friday, May 22nd. Twelve equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $256.60.

Shares of PANW opened at $255.92 on Friday. Palo Alto Networks Inc has a 52 week low of $125.47 and a 52 week high of $255.84. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.45. The stock has a fifty day moving average of $236.17 and a 200-day moving average of $214.78.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $1.54. Palo Alto Networks had a negative return on equity of 6.50% and a negative net margin of 7.01%. The company had revenue of $869.40 million during the quarter, compared to analysts’ expectations of $831.52 million. During the same period in the prior year, the company earned $1.31 EPS. Palo Alto Networks’s revenue was up 19.7% compared to the same quarter last year. Sell-side analysts predict that Palo Alto Networks Inc will post -0.55 earnings per share for the current fiscal year.

In related news, Director Mark D. Mclaughlin sold 950 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $249.00, for a total transaction of $236,550.00. Following the completion of the transaction, the director now directly owns 97,304 shares of the company’s stock, valued at approximately $24,228,696. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $237.09, for a total value of $2,845,080.00. Following the transaction, the executive vice president now directly owns 974,275 shares of the company’s stock, valued at $230,990,859.75. The disclosure for this sale can be found here. Insiders sold a total of 24,950 shares of company stock valued at $5,835,270 over the last quarter. 2.30% of the stock is owned by corporate insiders.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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