Menta Capital LLC purchased a new position in Palo Alto Networks, Inc. (NYSE:PANW) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,500 shares of the network technology company’s stock, valued at approximately $335,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in shares of Palo Alto Networks by 512.7% during the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock valued at $233,811,000 after purchasing an additional 1,462,162 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in Palo Alto Networks by 13,115.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock worth $8,760,000 after purchasing an additional 1,163,306 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Palo Alto Networks by 5,177.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock valued at $55,958,000 after purchasing an additional 487,200 shares during the period. Hunt Lane Capital LP bought a new stake in shares of Palo Alto Networks during the 1st quarter valued at about $42,818,000. Finally, Renaissance Technologies LLC grew its stake in shares of Palo Alto Networks by 16.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock valued at $242,578,000 after purchasing an additional 307,800 shares during the period. 77.03% of the stock is owned by hedge funds and other institutional investors.

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Palo Alto Networks, Inc. (NYSE:PANW) opened at 144.35 on Wednesday. The stock’s market capitalization is $13.26 billion. The firm’s 50-day moving average is $138.46 and its 200-day moving average is $127.97. Palo Alto Networks, Inc. has a 52 week low of $107.31 and a 52 week high of $165.69.

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

Several research firms have weighed in on PANW. Evercore ISI reiterated an “in-line” rating and issued a $145.00 price target (up from $140.00) on shares of Palo Alto Networks in a research report on Friday, September 1st. UBS AG restated a “neutral” rating and issued a $146.00 price objective (up from $140.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Vetr raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $140.90 target price on the stock in a report on Monday, July 3rd. Wells Fargo & Company reiterated an “outperform” rating and set a $185.00 target price (up from $180.00) on shares of Palo Alto Networks in a research report on Friday, September 1st. Finally, Maxim Group reiterated a “buy” rating and set a $195.00 target price (up from $168.00) on shares of Palo Alto Networks in a research report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $158.89.

In other news, President Mark Anderson sold 44,429 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $143.10, for a total value of $6,357,789.90. Following the completion of the transaction, the president now owns 176,290 shares of the company’s stock, valued at $25,227,099. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nir Zuk sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $145.01, for a total transaction of $290,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,001 shares of company stock worth $11,014,834. Corporate insiders own 4.80% of the company’s stock.

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.

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

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