Lincoln National Corp Cuts Holdings in Palo Alto Networks Inc (PANW)

Lincoln National Corp lowered its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 20.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,327 shares of the network technology company’s stock after selling 337 shares during the quarter. Lincoln National Corp’s holdings in Palo Alto Networks were worth $240,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PANW. Dimensional Fund Advisors LP grew its holdings in shares of Palo Alto Networks by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 90,192 shares of the network technology company’s stock valued at $12,994,000 after purchasing an additional 943 shares during the last quarter. Atria Investments LLC grew its holdings in shares of Palo Alto Networks by 30.3% during the fourth quarter. Atria Investments LLC now owns 2,175 shares of the network technology company’s stock valued at $315,000 after purchasing an additional 506 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Palo Alto Networks by 17.8% during the fourth quarter. Bank of Montreal Can now owns 52,521 shares of the network technology company’s stock valued at $7,612,000 after purchasing an additional 7,924 shares during the last quarter. Creative Planning grew its holdings in shares of Palo Alto Networks by 14.1% during the fourth quarter. Creative Planning now owns 5,659 shares of the network technology company’s stock valued at $820,000 after purchasing an additional 699 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Palo Alto Networks by 4.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 169,167 shares of the network technology company’s stock valued at $24,520,000 after purchasing an additional 7,673 shares during the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

In other news, Director Stanley J. Meresman sold 1,980 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $188.74, for a total transaction of $373,705.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 30,000 shares of the stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $192.02, for a total value of $5,760,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 228,960 shares of company stock valued at $42,091,349 in the last quarter. Insiders own 4.80% of the company’s stock.

Several equities analysts have recently commented on the company. Deutsche Bank upped their target price on Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. Deutsche Bank upped their target price on Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada upped their target price on Palo Alto Networks to $220.00 and gave the company an “outperform” rating in a report on Wednesday. Gabelli lowered Palo Alto Networks from a “buy” rating to a “hold” rating and set a $188.00 target price for the company. in a report on Monday, April 30th. They noted that the move was a valuation call. Finally, ValuEngine raised Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirty-eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $185.42.

Shares of NYSE:PANW opened at $209.29 on Friday. Palo Alto Networks Inc has a one year low of $115.01 and a one year high of $211.27.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Monday, February 26th. The network technology company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.19). Palo Alto Networks had a negative net margin of 9.96% and a negative return on equity of 14.74%. The company had revenue of $542.40 million for the quarter, compared to analyst estimates of $525.37 million. analysts predict that Palo Alto Networks Inc will post -0.37 earnings per share for the current fiscal year.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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

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