KBC Group NV lifted its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 45.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,117 shares of the network technology company’s stock after buying an additional 16,901 shares during the period. KBC Group NV owned about 0.06% of Palo Alto Networks worth $7,798,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sun Life Financial INC lifted its stake in Palo Alto Networks by 785.0% during the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after purchasing an additional 887 shares during the period. Global X Management Co. LLC lifted its stake in Palo Alto Networks by 24.4% during the second quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock worth $156,000 after purchasing an additional 229 shares during the period. Penserra Capital Management LLC bought a new position in Palo Alto Networks during the third quarter worth about $162,000. Benjamin F. Edwards & Company Inc. lifted its stake in Palo Alto Networks by 495.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after purchasing an additional 1,025 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in Palo Alto Networks by 30.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after purchasing an additional 322 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

A number of research analysts have commented on the stock. Dougherty & Co restated a “buy” rating and set a $180.00 price target (up previously from $170.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. FBN Securities upgraded shares of Palo Alto Networks from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, November 21st. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 price target for the company in a research note on Tuesday, November 28th. BidaskClub upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, Oppenheimer restated a “buy” rating and set a $180.00 price target (up previously from $173.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $162.84.

In related news, Director Carl M. Eschenbach sold 1,572 shares of the business’s stock in a transaction 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 sale, the director now directly owns 3,619 shares of the company’s stock, valued at approximately $524,718.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kathleen Bonanno sold 2,831 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $150.68, for a total transaction of $426,575.08. Following the completion of the sale, the chief financial officer now directly owns 38,716 shares in the company, valued at $5,833,726.88. The disclosure for this sale can be found here. Insiders sold a total of 329,171 shares of company stock valued at $48,931,891 in the last three months. 4.80% of the stock is owned by company insiders.

Palo Alto Networks, Inc. (NYSE PANW) traded up $0.18 on Tuesday, reaching $143.07. 366,684 shares of the company’s stock were exchanged, compared to its average volume of 1,774,740. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $157.65.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $505.50 million during the quarter, compared to analyst estimates of $489.36 million. During the same quarter in the previous year, the business earned $0.55 EPS. The firm’s revenue was up 27.0% on a year-over-year basis. equities analysts forecast that Palo Alto Networks, Inc. will post -0.37 earnings per share for the current fiscal year.

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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.

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

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