Advisor Group Inc. raised its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 19.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,424 shares of the network technology company’s stock after acquiring an additional 893 shares during the quarter. Advisor Group Inc.’s holdings in Palo Alto Networks were worth $726,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in Palo Alto Networks by 2.2% in the second quarter. Nordea Investment Management AB now owns 2,607 shares of the network technology company’s stock valued at $349,000 after buying an additional 55 shares in the last quarter. Glenview Trust Co boosted its stake in shares of Palo Alto Networks by 2.2% during the 2nd quarter. Glenview Trust Co now owns 4,600 shares of the network technology company’s stock worth $616,000 after acquiring an additional 100 shares in the last quarter. Formula Growth Ltd. boosted its stake in shares of Palo Alto Networks by 21.1% during the 2nd quarter. Formula Growth Ltd. now owns 74,652 shares of the network technology company’s stock worth $9,989,000 after acquiring an additional 13,000 shares in the last quarter. WESPAC Advisors SoCal LLC boosted its stake in shares of Palo Alto Networks by 2.4% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the network technology company’s stock worth $284,000 after acquiring an additional 50 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Palo Alto Networks by 12.7% during the 2nd quarter. California Public Employees Retirement System now owns 162,800 shares of the network technology company’s stock worth $21,784,000 after acquiring an additional 18,400 shares in the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

A number of research firms have recently commented on PANW. BidaskClub upgraded Palo Alto Networks from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Vetr raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $138.40 price target for the company in a report on Monday, July 31st. Citigroup Inc. raised Palo Alto Networks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $147.00 to $160.00 in a report on Friday, July 7th. Piper Jaffray Companies set a $146.00 price target on Palo Alto Networks and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, 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. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirty have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $158.89.

In other news, President Mark Anderson sold 44,429 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $143.10, for a total transaction of $6,357,789.90. Following the transaction, the president now directly owns 176,290 shares of the company’s stock, valued at $25,227,099. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carl M. Eschenbach sold 1,572 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $144.99, for a total transaction of $227,924.28. Following the completion of the transaction, the director now owns 3,619 shares of the company’s stock, valued at $524,718.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,001 shares of company stock worth $11,014,834. 4.80% of the stock is currently owned by insiders.

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Palo Alto Networks, Inc. (NYSE PANW) opened at 144.35 on Wednesday. Palo Alto Networks, Inc. has a 1-year low of $107.31 and a 1-year high of $165.69. The company’s 50-day moving average price is $138.46 and its 200 day moving average price is $127.97. The firm’s market capitalization is $13.26 billion.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The company had revenue of $509.00 million during the quarter, compared to analyst estimates of $487.53 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post $3.33 EPS for the current year.

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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