APG Asset Management N.V. increased its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 10.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,228 shares of the network technology company’s stock after acquiring an additional 3,100 shares during the quarter. APG Asset Management N.V.’s holdings in Palo Alto Networks were worth $4,644,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sun Life Financial INC lifted its stake in shares of Palo Alto Networks by 785.0% during the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock valued at $134,000 after acquiring an additional 887 shares during the period. Global X Management Co. LLC lifted its stake in shares of Palo Alto Networks by 24.4% during the second quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock valued at $156,000 after acquiring an additional 229 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Palo Alto Networks by 30.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock valued at $188,000 after acquiring an additional 322 shares during the period. OLD National Bancorp IN acquired a new position in Palo Alto Networks in the second quarter valued at about $201,000. Finally, Shelton Capital Management acquired a new position in Palo Alto Networks in the second quarter valued at about $201,000. 76.85% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on PANW. BidaskClub raised Palo Alto Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Northland Securities set a $175.00 target price on Palo Alto Networks and gave the company a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Rosenblatt Securities reissued a “buy” rating and issued a $160.00 target price on shares of Palo Alto Networks in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $168.00 target price (up previously from $155.00) on shares of Palo Alto Networks in a research note on Sunday, September 3rd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $160.33.
Shares of Palo Alto Networks, Inc. (NYSE PANW) opened at $146.36 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.65. Palo Alto Networks, Inc. has a fifty-two week low of $107.31 and a fifty-two week 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) EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company had revenue of $509.00 million for the quarter, compared to the consensus estimate of $487.53 million. During the same quarter last year, the business earned $0.50 EPS. Palo Alto Networks’s revenue was up 27.0% on a year-over-year basis. analysts predict that Palo Alto Networks, Inc. will post -0.49 earnings per share for the current fiscal year.
In other Palo Alto Networks news, Director Stanley J. Meresman sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $151.01, for a total transaction of $302,020.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Mark Anderson sold 44,429 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $143.10, for a total value of $6,357,789.90. Following the transaction, the president now owns 176,290 shares in the company, valued at approximately $25,227,099. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 256,744 shares of company stock worth $38,093,896. Corporate insiders own 4.80% of the company’s stock.
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Palo Alto Networks 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.
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