Glenmede Trust Co. NA Continues to Hold Stake in Palo Alto Networks, Inc. (PANW)

Glenmede Trust Co. NA held its position in Palo Alto Networks, Inc. (NYSE:PANW) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,285 shares of the network technology company’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in Palo Alto Networks were worth $410,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WFG Advisors LP increased its position in Palo Alto Networks by 5.9% in the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock valued at $101,000 after buying an additional 50 shares during the period. Global X Management Co. LLC increased its position in Palo Alto Networks by 31.9% in the first quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after buying an additional 227 shares during the period. Integrated Investment Consultants LLC acquired a new position in Palo Alto Networks during the first quarter valued at approximately $120,000. First Interstate Bank increased its position in Palo Alto Networks by 130.7% in the first quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock valued at $155,000 after buying an additional 779 shares during the period. Finally, Diversified Trust Co increased its position in Palo Alto Networks by 5.9% in the first quarter. Diversified Trust Co now owns 1,853 shares of the network technology company’s stock valued at $209,000 after buying an additional 103 shares during the period. 80.58% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks, Inc. (NYSE:PANW) opened at 138.86 on Wednesday. Palo Alto Networks, Inc. has a 12 month low of $107.31 and a 12 month high of $165.69. The company’s 50 day moving average is $128.32 and its 200-day moving average is $127.52. The company’s market cap is $12.75 billion.

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

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PANW has been the topic of several recent analyst reports. Piper Jaffray Companies set a $156.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Thursday, June 1st. Cowen and Company reiterated an “outperform” rating and issued a $150.00 target price on shares of Palo Alto Networks in a research note on Thursday, May 25th. FBN Securities cut shares of Palo Alto Networks from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $135.00 to $115.00 in a research note on Monday, April 17th. Vetr upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $140.90 target price on the stock in a research note on Monday, July 3rd. Finally, Barclays PLC reiterated an “overweight” rating and issued a $158.00 target price (up from $145.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. Twenty-one investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $151.27.

Palo Alto Networks Company Profile

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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