BB&T Securities LLC bought a new position in Palo Alto Networks, Inc. (NYSE:PANW) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,603 shares of the network technology company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Palo Alto Networks by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 88,509 shares of the network technology company’s stock valued at $9,974,000 after buying an additional 5,399 shares during the period. CIBC Asset Management Inc increased its stake in shares of Palo Alto Networks by 37.9% in the second quarter. CIBC Asset Management Inc now owns 4,948 shares of the network technology company’s stock valued at $662,000 after buying an additional 1,360 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Palo Alto Networks by 8.0% in the second quarter. Daiwa Securities Group Inc. now owns 2,700 shares of the network technology company’s stock valued at $361,000 after buying an additional 200 shares during the period. Sei Investments Co. increased its stake in shares of Palo Alto Networks by 25.5% in the second quarter. Sei Investments Co. now owns 46,320 shares of the network technology company’s stock valued at $6,199,000 after buying an additional 9,399 shares during the period. Finally, TD Asset Management Inc. increased its stake in shares of Palo Alto Networks by 980.3% in the second quarter. TD Asset Management Inc. now owns 58,951 shares of the network technology company’s stock valued at $7,888,000 after buying an additional 53,494 shares during the period. 79.98% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks, Inc. (PANW) traded down $0.67 during mid-day trading on Wednesday, hitting $143.49. The stock had a trading volume of 1,158,100 shares, compared to its average volume of 1,761,420. Palo Alto Networks, Inc. has a 52 week low of $107.31 and a 52 week high of $157.65.

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

Several equities research analysts recently commented on PANW shares. BidaskClub upgraded Palo Alto Networks from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th. Imperial Capital restated an “outperform” rating and set a $137.00 target price on shares of Palo Alto Networks in a research report on Friday, August 18th. Piper Jaffray Companies set a $146.00 target price on Palo Alto Networks and gave the company a “buy” rating in a research report on Friday, August 25th. Oppenheimer restated an “outperform” rating and set a $173.00 target price on shares of Palo Alto Networks in a research report on Monday, August 28th. Finally, UBS set a $140.00 target price on Palo Alto Networks and gave the company a “hold” rating in a research report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $162.84.

In related news, President Mark Anderson sold 15,614 shares of the 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 sale, the president now directly owns 186,413 shares of the company’s stock, valued at $26,873,298.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen Bonanno sold 2,831 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $150.68, for a total value of $426,575.08. Following the sale, the chief financial officer now directly owns 38,716 shares of the company’s stock, valued at $5,833,726.88. The disclosure for this sale can be found here. Insiders have sold 343,213 shares of company stock valued at $50,953,421 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

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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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