Palo Alto Networks, Inc. (PANW) Holdings Lifted by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can raised its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,533 shares of the network technology company’s stock after purchasing an additional 1,531 shares during the quarter. Great West Life Assurance Co. Can owned about 0.05% of Palo Alto Networks worth $6,957,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. increased its stake in shares of Palo Alto Networks by 512.7% in the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock worth $233,811,000 after acquiring an additional 1,462,162 shares during the period. Northern Trust Corp increased its stake in shares of Palo Alto Networks by 109.9% in the second quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock worth $152,883,000 after acquiring an additional 598,115 shares during the period. ETF Managers Group LLC acquired a new stake in shares of Palo Alto Networks in the second quarter worth $48,287,000. Sirios Capital Management L P acquired a new stake in shares of Palo Alto Networks in the second quarter worth $40,567,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Palo Alto Networks by 35.5% in the third quarter. Ameriprise Financial Inc. now owns 1,068,289 shares of the network technology company’s stock worth $153,798,000 after acquiring an additional 279,602 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

PANW has been the topic of a number of research reports. Piper Jaffray Companies set a $146.00 price objective on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Friday, August 25th. Jefferies Group lifted their price target on shares of Palo Alto Networks from $155.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, September 1st. BTIG Research reiterated a “buy” rating and set a $175.00 price target on shares of Palo Alto Networks in a research report on Thursday, August 31st. Citigroup reiterated a “buy” rating and set a $168.00 price target (up from $160.00) on shares of Palo Alto Networks in a research report on Friday, September 1st. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $165.00 price target (up from $158.00) on shares of Palo Alto Networks in a research report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-three have assigned a buy rating to the company. Palo Alto Networks currently has a consensus rating of “Buy” and a consensus target price of $162.84.

Palo Alto Networks, Inc. (NYSE PANW) traded down $1.45 during midday trading on Thursday, hitting $141.37. 1,719,500 shares of the stock traded hands, compared to its average volume of 1,771,524. Palo Alto Networks, Inc. has a twelve month low of $107.31 and a twelve month high of $157.65.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The business had revenue of $505.50 million during the quarter, compared to analyst estimates of $489.36 million. During the same quarter last year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. sell-side analysts expect that Palo Alto Networks, Inc. will post -0.37 EPS for the current year.

In related news, Director Carl M. Eschenbach sold 1,572 shares of Palo Alto Networks stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $144.99, for a total value of $227,924.28. Following the completion of the transaction, the director now owns 3,619 shares in the company, valued at $524,718.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Mark Anderson sold 15,614 shares of Palo Alto Networks stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $144.16, for a total transaction of $2,250,914.24. Following the completion of the transaction, the president now owns 186,413 shares of the company’s stock, valued at approximately $26,873,298.08. The disclosure for this sale can be found here. Insiders sold 346,785 shares of company stock valued at $51,471,366 in the last quarter. 4.80% of the stock is owned by insiders.

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

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