Skandinaviska Enskilda Banken AB publ Sells 343 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,066 shares of the network technology company’s stock after selling 343 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Palo Alto Networks were worth $8,175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Atalan Capital Partners LP bought a new stake in Palo Alto Networks in the second quarter valued at approximately $126,157,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Palo Alto Networks by 134.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 586,400 shares of the network technology company’s stock valued at $217,584,000 after acquiring an additional 336,392 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Palo Alto Networks by 70.6% in the third quarter. Frontier Capital Management Co. LLC now owns 461,930 shares of the network technology company’s stock valued at $221,264,000 after acquiring an additional 191,190 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in Palo Alto Networks by 93.4% in the second quarter. Alyeska Investment Group L.P. now owns 319,205 shares of the network technology company’s stock valued at $118,441,000 after acquiring an additional 154,116 shares during the last quarter. Finally, Nicholas Company Inc. boosted its holdings in Palo Alto Networks by 247.2% in the second quarter. Nicholas Company Inc. now owns 163,340 shares of the network technology company’s stock valued at $60,607,000 after acquiring an additional 116,290 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

A number of equities analysts have issued reports on PANW shares. Cowen increased their price target on Palo Alto Networks from $550.00 to $620.00 and gave the stock an “outperform” rating in a report on Friday, November 19th. Morgan Stanley increased their price target on Palo Alto Networks from $600.00 to $660.00 and gave the stock an “overweight” rating in a report on Friday, November 19th. Robert W. Baird increased their price target on Palo Alto Networks from $540.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, November 19th. TheStreet lowered Palo Alto Networks from a “c” rating to a “d” rating in a research report on Thursday, November 18th. Finally, OTR Global raised Palo Alto Networks to a “positive” rating in a research report on Monday, November 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Buy” and a consensus price target of $580.82.

PANW stock opened at $499.11 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $311.56 and a fifty-two week high of $572.67. The stock has a fifty day moving average of $531.47 and a 200-day moving average of $472.95.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, November 18th. The network technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.57 by $0.07. Palo Alto Networks had a negative return on equity of 26.86% and a negative net margin of 11.20%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company earned ($0.04) EPS. The firm’s revenue was up 31.9% compared to the same quarter last year. On average, equities analysts forecast that Palo Alto Networks, Inc. will post -1.19 EPS for the current year.

In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $507.22, for a total value of $760,830.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $507.28, for a total value of $6,087,360.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,875 shares of company stock valued at $30,746,594. 2.20% of the stock is owned by corporate insiders.

Palo Alto Networks Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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

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