Wetherby Asset Management Inc. raised its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 12,448 shares of the network technology company’s stock after buying an additional 112 shares during the period. Wetherby Asset Management Inc.’s holdings in Palo Alto Networks were worth $1,666,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PANW. Dimensional Fund Advisors LP increased its position in shares of Palo Alto Networks by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 83,110 shares of the network technology company’s stock worth $10,393,000 after buying an additional 4,974 shares during the period. Macquarie Group Ltd. increased its position in shares of Palo Alto Networks by 8.8% in the fourth quarter. Macquarie Group Ltd. now owns 33,071 shares of the network technology company’s stock worth $4,136,000 after buying an additional 2,687 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Palo Alto Networks by 3.5% in the first quarter. Gulf International Bank UK Ltd now owns 27,570 shares of the network technology company’s stock worth $3,106,000 after buying an additional 935 shares during the period. National Pension Service increased its position in shares of Palo Alto Networks by 32.1% in the first quarter. National Pension Service now owns 94,817 shares of the network technology company’s stock worth $10,762,000 after buying an additional 23,042 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Palo Alto Networks by 4.1% in the first quarter. Bank of Montreal Can now owns 61,034 shares of the network technology company’s stock worth $6,877,000 after buying an additional 2,380 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Shares of Palo Alto Networks, Inc. (NYSE PANW) opened at 129.89 on Thursday. The firm has a 50-day moving average price of $135.65 and a 200-day moving average price of $128.43. The firm’s market capitalization is $11.93 billion. Palo Alto Networks, Inc. has a 52 week low of $107.31 and a 52 week high of $165.69.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $431.80 million for the quarter, compared to the consensus estimate of $412.11 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. Palo Alto Networks’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities analysts expect that Palo Alto Networks, Inc. will post $2.59 earnings per share for the current fiscal year.

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A number of equities analysts recently issued reports on PANW shares. FBN Securities downgraded Palo Alto Networks from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $135.00 to $115.00 in a report on Monday, April 17th. BMO Capital Markets lowered their price target on Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating for the company in a report on Friday, April 21st. OTR Global reaffirmed a “positive” rating on shares of Palo Alto Networks in a report on Wednesday, May 10th. Jefferies Group LLC raised Palo Alto Networks from a “hold” rating to a “buy” rating and upped their price target for the company from $130.00 to $150.00 in a report on Friday, May 19th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $173.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, twenty have given a hold rating and twenty-seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $150.94.

In other news, Director James J. Goetz sold 30,000 shares of Palo Alto Networks stock in a transaction on 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 owns 271,645 shares in the company, valued at $37,478,860.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.80% of the company’s stock.

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

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