Oppenheimer & Co. Inc. boosted its position in Palo Alto Networks Inc. (NYSE:PANW) by 8.7% during the third quarter, Holdings Channel reports. The firm owned 25,231 shares of the network technology company’s stock after buying an additional 2,022 shares during the period. Oppenheimer & Co. Inc.’s holdings in Palo Alto Networks were worth $4,020,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of Palo Alto Networks during the second quarter worth approximately $2,381,000. Tocqueville Asset Management L.P. raised its position in shares of Palo Alto Networks by 7.4% in the second quarter. Tocqueville Asset Management L.P. now owns 83,440 shares of the network technology company’s stock worth $10,233,000 after buying an additional 5,785 shares during the period. Essex Investment Management Co. LLC raised its position in shares of Palo Alto Networks by 3.8% in the second quarter. Essex Investment Management Co. LLC now owns 84,320 shares of the network technology company’s stock worth $10,341,000 after buying an additional 3,116 shares during the period. Trillium Asset Management LLC raised its position in shares of Palo Alto Networks by 8.4% in the second quarter. Trillium Asset Management LLC now owns 117,742 shares of the network technology company’s stock worth $14,440,000 after buying an additional 9,134 shares during the period. Finally, Penserra Capital Management LLC raised its position in shares of Palo Alto Networks by 24.2% in the second quarter. Penserra Capital Management LLC now owns 223,416 shares of the network technology company’s stock worth $27,400,000 after buying an additional 43,521 shares during the period. 87.20% of the stock is currently owned by institutional investors.

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

Shares of Palo Alto Networks Inc. (NYSE:PANW) traded down 1.97% during mid-day trading on Tuesday, hitting $133.58. 2,641,326 shares of the stock traded hands. The firm’s market cap is $12.25 billion. The firm’s 50 day moving average price is $151.57 and its 200 day moving average price is $140.38. Palo Alto Networks Inc. has a 12-month low of $111.09 and a 12-month high of $194.73.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Monday, November 21st. The network technology company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The firm earned $398.10 million during the quarter, compared to analysts’ expectations of $400.20 million. Palo Alto Networks had a negative net margin of 16.83% and a negative return on equity of 35.75%. Palo Alto Networks’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities research analysts predict that Palo Alto Networks Inc. will post $2.78 EPS for the current fiscal year.

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PANW has been the topic of a number of recent research reports. Imperial Capital dropped their price objective on shares of Palo Alto Networks from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Tuesday. Barclays PLC dropped their price objective on shares of Palo Alto Networks from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 22nd. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $184.00 price objective on shares of Palo Alto Networks in a research note on Monday. RBC Capital Markets reiterated an “outperform” rating and set a $175.00 price objective (down from $185.00) on shares of Palo Alto Networks in a research note on Wednesday, August 31st. Finally, Argus reiterated a “buy” rating and set a $205.00 price objective on shares of Palo Alto Networks in a research note on Saturday, September 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $180.06.

In other Palo Alto Networks news, Director Carl M. Eschenbach sold 894 shares of the company’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $159.08, for a total transaction of $142,217.52. Following the completion of the transaction, the director now owns 2,940 shares in the company, valued at approximately $467,695.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Mark Anderson sold 2,202 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $148.98, for a total transaction of $328,053.96. Following the transaction, the president now owns 277,502 shares of the company’s stock, valued at approximately $41,342,247.96. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s 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.

5 Day Chart for NYSE:PANW

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