North American Management Corp Buys New Position in Palo Alto Networks, Inc. (NYSE:PANW)

North American Management Corp purchased a new position in shares of Palo Alto Networks, Inc. (NYSE:PANW) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,610 shares of the network technology company’s stock, valued at approximately $215,000.

Several other institutional investors have also bought and sold shares of PANW. Advisors Capital Management LLC boosted its stake in Palo Alto Networks by 12.6% in the second quarter. Advisors Capital Management LLC now owns 16,811 shares of the network technology company’s stock worth $2,249,000 after buying an additional 1,880 shares during the last quarter. Palo Capital Inc. boosted its stake in Palo Alto Networks by 42.7% in the second quarter. Palo Capital Inc. now owns 3,476 shares of the network technology company’s stock worth $465,000 after buying an additional 1,040 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in Palo Alto Networks by 127.8% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,894 shares of the network technology company’s stock worth $628,000 after buying an additional 2,746 shares during the last quarter. OLD National Bancorp IN purchased a new stake in Palo Alto Networks during the second quarter worth approximately $201,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Palo Alto Networks by 508.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 14,885 shares of the network technology company’s stock worth $1,992,000 after buying an additional 12,440 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Palo Alto Networks, Inc. (NYSE PANW) opened at 128.84 on Friday. The stock’s 50 day moving average price is $135.30 and its 200-day moving average price is $128.34. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $165.69. The stock’s market capitalization is $11.83 billion.

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

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Several research firms have recently issued reports on PANW. BidaskClub raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. UBS AG reaffirmed a “neutral” rating and set a $140.00 price objective (up from $130.00) on shares of Palo Alto Networks in a research note on Monday, June 5th. Susquehanna Bancshares Inc started coverage on shares of Palo Alto Networks in a research note on Wednesday, June 7th. They set a “neutral” rating and a $145.00 price objective for the company. Barclays PLC reaffirmed an “overweight” rating and set a $158.00 price objective (up from $145.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. Finally, Citigroup Inc. reissued a “neutral” rating and set a $147.00 target price (up from $130.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Palo Alto Networks currently has a consensus rating of “Buy” and an average target price of $150.94.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the transaction, the director now directly owns 271,645 shares in the company, valued at $37,478,860.65. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.80% of the stock is owned by company insiders.

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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