Great West Life Assurance Co. Can raised its position in Palo Alto Networks, Inc. (NYSE:PANW) by 118.4% during the third quarter, Holdings Channel reports. The fund owned 94,343 shares of the network technology company’s stock after buying an additional 51,136 shares during the period. Great West Life Assurance Co. Can’s holdings in Palo Alto Networks were worth $15,034,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Alliancebernstein L.P. raised its stake in shares of Palo Alto Networks by 122.1% in the second quarter. Alliancebernstein L.P. now owns 2,037,537 shares of the network technology company’s stock worth $249,884,000 after buying an additional 1,120,097 shares during the last quarter. Criterion Capital Management LLC raised its stake in shares of Palo Alto Networks by 374.5% in the second quarter. Criterion Capital Management LLC now owns 610,330 shares of the network technology company’s stock worth $74,851,000 after buying an additional 481,710 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Palo Alto Networks by 6.2% in the second quarter. Vanguard Group Inc. now owns 6,066,172 shares of the network technology company’s stock worth $743,954,000 after buying an additional 353,873 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Palo Alto Networks by 453.2% in the second quarter. Champlain Investment Partners LLC now owns 330,550 shares of the network technology company’s stock worth $40,539,000 after buying an additional 270,795 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Palo Alto Networks by 137.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 320,000 shares of the network technology company’s stock worth $39,245,000 after buying an additional 185,000 shares during the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.

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

Shares of Palo Alto Networks, Inc. (NYSE:PANW) opened at 136.36 on Friday. The company has a 50-day moving average price of $130.11 and a 200-day moving average price of $139.23. Palo Alto Networks, Inc. has a 12 month low of $111.09 and a 12 month high of $165.69. The company’s market capitalization is $12.50 billion.

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

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PANW has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $176.00 target price (down from $187.00) on shares of Palo Alto Networks in a research note on Monday, November 28th. Vetr raised shares of Palo Alto Networks from a “buy” rating to a “strong-buy” rating and set a $178.24 target price on the stock in a research note on Tuesday, October 11th. Imperial Capital reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Palo Alto Networks in a research note on Monday, September 19th. Finally, Summit Redstone started coverage on shares of Palo Alto Networks in a research note on Friday, December 2nd. They issued a “hold” rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $173.30.

In related news, CEO Mark D. Mclaughlin sold 26,566 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $127.32, for a total transaction of $3,382,383.12. Following the completion of the sale, the chief executive officer now directly owns 568,760 shares in the company, valued at $72,414,523.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nir Zuk sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $134.02, for a total value of $268,040.00. Following the sale, the insider now owns 1,836,694 shares of the company’s stock, valued at $246,153,729.88. The disclosure for this sale can be found here. 4.80% of the stock is owned by 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.

5 Day Chart for NYSE:PANW

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