Fagan Associates Inc. grew its position in Palo Alto Networks Inc (NYSE:PANW) by 38.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,020 shares of the network technology company’s stock after purchasing an additional 1,395 shares during the period. Fagan Associates Inc.’s holdings in Palo Alto Networks were worth $946,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PANW. Renaissance Technologies LLC grew its stake in shares of Palo Alto Networks by 24.8% in the 3rd quarter. Renaissance Technologies LLC now owns 4,651,200 shares of the network technology company’s stock valued at $1,047,729,000 after buying an additional 925,500 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Palo Alto Networks by 3,273.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 428,421 shares of the network technology company’s stock worth $96,506,000 after acquiring an additional 415,721 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Palo Alto Networks by 183.2% in the 3rd quarter. Janus Henderson Group PLC now owns 269,965 shares of the network technology company’s stock worth $60,812,000 after acquiring an additional 174,644 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of Palo Alto Networks by 2,488.1% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 154,302 shares of the network technology company’s stock worth $29,062,000 after acquiring an additional 148,340 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Palo Alto Networks by 10.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,607,673 shares of the network technology company’s stock worth $362,144,000 after acquiring an additional 146,447 shares during the last quarter. 80.37% of the stock is owned by institutional investors and hedge funds.

Shares of PANW opened at $224.62 on Monday. Palo Alto Networks Inc has a twelve month low of $148.41 and a twelve month high of $239.50. The firm has a market capitalization of $21.31 billion, a PE ratio of -408.40, a PEG ratio of 13.47 and a beta of 0.91. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 1.10.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Thursday, November 29th. The network technology company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. Palo Alto Networks had a negative net margin of 5.04% and a negative return on equity of 1.72%. The business had revenue of $656.00 million for the quarter, compared to analyst estimates of $632.16 million. During the same period last year, the business earned $0.74 EPS. The company’s revenue was up 30.7% on a year-over-year basis. Equities analysts expect that Palo Alto Networks Inc will post 0.71 EPS for the current year.

Several brokerages have recently commented on PANW. Zacks Investment Research lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded shares of Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. Wedbush upgraded shares of Palo Alto Networks from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $225.00 to $265.00 in a report on Thursday, January 24th. UBS Group upgraded shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Tuesday, January 22nd. Finally, BMO Capital Markets upgraded shares of Palo Alto Networks from a “market perform” rating to an “outperform” rating and set a $240.00 target price on the stock in a report on Tuesday, January 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $244.76.

In related news, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $216.37, for a total value of $8,654,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stanley J. Meresman sold 1,958 shares of the stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $177.48, for a total transaction of $347,505.84. Following the completion of the transaction, the director now directly owns 1,658 shares in the company, valued at $294,261.84. The disclosure for this sale can be found here. Insiders sold a total of 157,024 shares of company stock worth $31,265,111 over the last 90 days. Company insiders own 3.10% of the company’s stock.

WARNING: This piece was first published by Watch List News and is the property of of Watch List News. If you are viewing this piece on another site, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.watchlistnews.com/fagan-associates-inc-has-946000-stake-in-palo-alto-networks-inc-panw/2812152.html.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

Featured Article: Asset Allocation

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks Inc (NYSE:PANW).

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

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.