Granite Investment Partners LLC Buys 3,414 Shares of Palo Alto Networks, Inc. (PANW)

Granite Investment Partners LLC increased its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,527 shares of the network technology company’s stock after buying an additional 3,414 shares during the quarter. Granite Investment Partners LLC owned 0.07% of Palo Alto Networks worth $9,154,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Palo Alto Networks by 3.6% in the second quarter. Vanguard Group Inc. now owns 7,262,069 shares of the network technology company’s stock worth $971,738,000 after purchasing an additional 254,836 shares during the last quarter. American Century Companies Inc. boosted its position in Palo Alto Networks by 36.0% in the third quarter. American Century Companies Inc. now owns 2,376,862 shares of the network technology company’s stock worth $342,506,000 after purchasing an additional 629,523 shares during the last quarter. CI Global Investments Inc. boosted its position in Palo Alto Networks by 2.4% in the second quarter. CI Global Investments Inc. now owns 1,617,837 shares of the network technology company’s stock worth $216,483,000 after purchasing an additional 37,597 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in Palo Alto Networks by 13,115.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock worth $8,760,000 after purchasing an additional 1,163,306 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Palo Alto Networks by 109.9% in the second quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock worth $152,883,000 after purchasing an additional 598,115 shares during the last quarter. Institutional investors and hedge funds own 78.34% of the company’s stock.

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In other news, CEO Mark D. Mclaughlin sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $149.70, for a total value of $5,239,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nir Zuk sold 146,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $149.86, for a total value of $21,879,560.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 284,744 shares of company stock valued at $42,239,296. Company insiders own 4.80% of the company’s stock.

Palo Alto Networks, Inc. (NYSE:PANW) traded up $8.03 during midday trading on Tuesday, reaching $150.56. The company’s stock had a trading volume of 5,531,925 shares, compared to its average volume of 1,748,208. Palo Alto Networks, Inc. has a 1-year low of $107.31 and a 1-year high of $162.64. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.65.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The business had revenue of $505.50 million during the quarter, compared to analysts’ expectations of $489.36 million. During the same quarter last year, the business posted $0.55 EPS. The business’s revenue was up 27.0% on a year-over-year basis. research analysts expect that Palo Alto Networks, Inc. will post -0.5 earnings per share for the current year.

PANW has been the topic of several research analyst reports. BidaskClub cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Vetr raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $138.40 price objective on the stock in a research report on Monday, July 31st. ValuEngine raised Palo Alto Networks from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Imperial Capital reissued an “outperform” rating and issued a $137.00 price objective on shares of Palo Alto Networks in a research report on Friday, August 18th. Finally, Piper Jaffray Companies set a $146.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research report on Friday, August 25th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $161.77.

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.

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

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