World Asset Management Inc raised its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 4,116 shares of the network technology company’s stock after buying an additional 96 shares during the period. World Asset Management Inc’s holdings in Palo Alto Networks were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PANW. Dimensional Fund Advisors LP boosted its stake in 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. boosted its stake in 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 boosted its stake in 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 boosted its stake in 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 boosted its stake in 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. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Palo Alto Networks, Inc. (NYSE PANW) opened at 129.89 on Thursday. Palo Alto Networks, Inc. has a 12 month low of $107.31 and a 12 month high of $165.69. The company’s 50-day moving average is $135.65 and its 200 day moving average is $128.43. The firm’s market cap is $11.93 billion.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 firm had revenue of $431.80 million for the quarter, compared to analysts’ expectations of $412.11 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts expect that Palo Alto Networks, Inc. will post $2.59 EPS for the current fiscal year.

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PANW has been the subject of a number of analyst reports. FBN Securities cut shares of Palo Alto Networks from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $135.00 to $115.00 in a research note on Monday, April 17th. BMO Capital Markets reduced their target price on shares of Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating for the company in a research note on Friday, April 21st. OTR Global reiterated a “positive” rating on shares of Palo Alto Networks in a research note on Wednesday, May 10th. Jefferies Group LLC upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $150.00 in a research note on Friday, May 19th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $173.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 23rd. One 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 company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $150.94.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of Palo Alto Networks stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $137.97, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.80% of the company’s stock.

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.

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

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