Newman Dignan & Sheerar Inc. acquired a new stake in Palo Alto Networks, Inc. (NYSE:PANW) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,675 shares of the network technology company’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PANW. Global X Management Co. LLC grew its position in Palo Alto Networks by 31.9% during the 1st quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock worth $106,000 after acquiring an additional 227 shares during the last quarter. Sun Life Financial INC grew its position in Palo Alto Networks by 785.0% during the 2nd quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after acquiring an additional 887 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Palo Alto Networks by 30.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after acquiring an additional 322 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in Palo Alto Networks during the 1st quarter worth $191,000. Finally, OLD National Bancorp IN bought a new stake in Palo Alto Networks during the 2nd quarter worth $201,000. 76.96% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on PANW. Northland Securities set a $175.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research report on Wednesday. BidaskClub upgraded Palo Alto Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Zacks Investment Research upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research report on Tuesday, October 10th. Morgan Stanley upgraded Palo Alto Networks from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $150.00 to $185.00 in a research report on Tuesday, October 10th. Finally, Stephens reiterated an “overweight” rating and issued a $165.00 price target (up previously from $155.00) on shares of Palo Alto Networks in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-one have assigned a buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and an average price target of $160.33.

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Shares of Palo Alto Networks, Inc. (NYSE PANW) traded up 0.19% during trading on Friday, hitting $149.61. The stock had a trading volume of 846,495 shares. The company’s market cap is $13.74 billion. Palo Alto Networks, Inc. has a 1-year low of $107.31 and a 1-year high of $165.69. The firm’s 50 day moving average is $144.37 and its 200 day moving average is $130.80.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ 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 for the quarter, compared to the consensus estimate of $487.53 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. Equities research analysts anticipate that Palo Alto Networks, Inc. will post $3.33 EPS for the current fiscal year.

In other news, Director Stanley J. Meresman sold 2,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $151.01, for a total transaction of $302,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark D. Mclaughlin sold 35,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $149.70, for a total transaction of $5,239,500.00. The disclosure for this sale can be found here. Insiders have sold 254,744 shares of company stock worth $37,804,516 over the last ninety days. Insiders own 4.80% of the company’s stock.

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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