Palo Alto Networks, Inc. (PANW) Shares Sold by Bourgeon Capital Management LLC

Bourgeon Capital Management LLC lowered its position in Palo Alto Networks, Inc. (NYSE:PANW) by 7.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,246 shares of the network technology company’s stock after selling 2,780 shares during the period. Palo Alto Networks accounts for 2.7% of Bourgeon Capital Management LLC’s holdings, making the stock its 15th largest position. Bourgeon Capital Management LLC’s holdings in Palo Alto Networks were worth $4,315,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of PANW. Palo Capital Inc. increased its position in Palo Alto Networks by 14.0% in the first quarter. Palo Capital Inc. now owns 2,436 shares of the network technology company’s stock valued at $274,000 after buying an additional 300 shares during the last quarter. Flinton Capital Management LLC increased its position in Palo Alto Networks by 94.8% in the first quarter. Flinton Capital Management LLC now owns 9,072 shares of the network technology company’s stock valued at $1,022,000 after buying an additional 4,416 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Palo Alto Networks by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 83,110 shares of the network technology company’s stock valued at $10,393,000 after buying an additional 4,974 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Palo Alto Networks by 6.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,445 shares of the network technology company’s stock valued at $258,000 after buying an additional 148 shares during the last quarter. Finally, Exane Derivatives increased its position in Palo Alto Networks by 4,325.5% in the first quarter. Exane Derivatives now owns 4,868 shares of the network technology company’s stock valued at $548,000 after buying an additional 4,758 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Palo Alto Networks, Inc. (NYSE:PANW) opened at 128.84 on Friday. The company’s market capitalization is $11.83 billion. The firm has a 50-day moving average price of $135.30 and a 200 day moving average price of $128.34. Palo Alto Networks, Inc. has a 1-year low of $107.31 and a 1-year high of $165.69.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.06. The company had revenue of $431.80 million for the quarter, compared to analyst estimates of $412.11 million. Palo Alto Networks had a negative return on equity of 23.77% and a negative net margin of 14.38%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, equities analysts predict that Palo Alto Networks, Inc. will post $2.59 EPS for the current year.

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Several equities analysts have recently weighed in on PANW shares. Vetr downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating and set a $137.50 target price for the company. in a research note on Thursday, June 1st. BMO Capital Markets reduced their target price on shares of Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating for the company in a research note on Friday, April 21st. BidaskClub downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. BTIG Research reiterated a “buy” rating and issued a $155.00 target price on shares of Palo Alto Networks in a research note on Thursday, June 1st. Finally, Cowen and Company restated an “outperform” rating and issued a $165.00 price objective (up from $150.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $150.94.

In other news, Director James J. Goetz sold 30,000 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $137.97, for a total value of $4,139,100.00. Following the transaction, the director now owns 271,645 shares of the company’s stock, valued at approximately $37,478,860.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.80% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

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

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