Heritage Investors Management Corp Acquires 3,705 Shares of Palo Alto Networks, Inc. (PANW)

Heritage Investors Management Corp increased its holdings in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 9.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,336 shares of the network technology company’s stock after purchasing an additional 3,705 shares during the period. Heritage Investors Management Corp’s holdings in Palo Alto Networks were worth $5,957,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. American Century Companies Inc. lifted its stake in shares of Palo Alto Networks by 512.7% in the 2nd quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock worth $233,811,000 after acquiring an additional 1,462,162 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of Palo Alto Networks by 13,115.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock worth $8,760,000 after acquiring an additional 1,163,306 shares during the period. Northern Trust Corp lifted its stake in shares of Palo Alto Networks by 109.9% in the 2nd quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock worth $152,883,000 after acquiring an additional 598,115 shares during the period. ETF Managers Group LLC acquired a new stake in shares of Palo Alto Networks in the 2nd quarter worth $48,287,000. Finally, Sirios Capital Management L P acquired a new stake in shares of Palo Alto Networks in the 2nd quarter worth $40,567,000. Hedge funds and other institutional investors own 76.89% of the company’s stock.

In related news, Director Carl M. Eschenbach sold 1,572 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $144.99, for a total value of $227,924.28. Following the completion of the transaction, the director now directly owns 3,619 shares of the company’s stock, valued at $524,718.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nir Zuk sold 146,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was 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. Insiders sold 254,744 shares of company stock valued at $37,804,516 over the last three months. 4.80% of the stock is owned by company insiders.

Shares of Palo Alto Networks, Inc. (NYSE PANW) traded down 2.361% during mid-day trading on Wednesday, hitting $143.725. 589,175 shares of the company were exchanged. The stock’s 50-day moving average price is $145.51 and its 200 day moving average price is $133.06. The stock’s market cap is $13.20 billion. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $165.69.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The business had revenue of $509.00 million during the quarter, compared to the consensus estimate of $487.53 million. During the same period in the prior year, the company posted $0.50 earnings per share. The firm’s revenue was up 27.0% compared to the same quarter last year. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post $3.33 EPS for the current fiscal year.

PANW has been the subject of several recent analyst reports. Piper Jaffray Companies set a $146.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Friday, August 25th. Vetr upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $138.40 target price for the company in a research note on Monday, July 31st. Citigroup Inc. upgraded shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and raised their target price for the stock from $147.00 to $160.00 in a research note on Friday, July 7th. BidaskClub upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Finally, BTIG Research restated a “buy” rating and issued a $175.00 target price on shares of Palo Alto Networks in a research note on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty-one have given a buy rating to the company’s stock. Palo Alto Networks presently has a consensus rating of “Buy” and a consensus price target of $160.33.

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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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