Alps Advisors Inc. raised its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 29.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,940 shares of the network technology company’s stock after purchasing an additional 1,119 shares during the period. Alps Advisors Inc.’s holdings in Palo Alto Networks were worth $1,209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its holdings in Palo Alto Networks by 12.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 9,876 shares of the network technology company’s stock valued at $2,268,000 after buying an additional 1,113 shares during the last quarter. IBM Retirement Fund lifted its position in shares of Palo Alto Networks by 27.1% in the 3rd quarter. IBM Retirement Fund now owns 3,773 shares of the network technology company’s stock worth $923,000 after acquiring an additional 804 shares during the period. O Shares Investment Advisers LLC lifted its position in shares of Palo Alto Networks by 262.6% in the 2nd quarter. O Shares Investment Advisers LLC now owns 7,951 shares of the network technology company’s stock worth $1,826,000 after acquiring an additional 5,758 shares during the period. Davy Global Fund Management Ltd lifted its position in shares of Palo Alto Networks by 110.8% in the 3rd quarter. Davy Global Fund Management Ltd now owns 3,075 shares of the network technology company’s stock worth $753,000 after acquiring an additional 1,616 shares during the period. Finally, Bradley Foster & Sargent Inc. CT bought a new stake in shares of Palo Alto Networks in the 3rd quarter worth approximately $1,441,000. 78.50% of the stock is owned by institutional investors.

In other news, CAO Jean Compeau sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $265.11, for a total value of $530,220.00. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $222.72, for a total value of $2,672,640.00. Following the completion of the sale, the executive vice president now owns 914,981 shares of the company’s stock, valued at $203,784,568.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,134 shares of company stock valued at $12,035,563. 2.30% of the stock is owned by corporate insiders.

Several equities analysts recently commented on PANW shares. Morgan Stanley raised their target price on Palo Alto Networks from $320.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday. BTIG Research raised their target price on Palo Alto Networks from $313.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday. Mizuho raised their target price on Palo Alto Networks from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday. Credit Suisse Group raised their target price on Palo Alto Networks from $230.00 to $270.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Bank of America upgraded Palo Alto Networks from a “neutral” rating to a “buy” rating and raised their target price for the stock from $270.00 to $330.00 in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $301.21.

NYSE PANW opened at $292.01 on Friday. The business has a fifty day moving average price of $246.73 and a two-hundred day moving average price of $241.71. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.91 and a quick ratio of 1.91. Palo Alto Networks, Inc. has a fifty-two week low of $125.47 and a fifty-two week high of $295.17. The stock has a market capitalization of $27.73 billion, a PE ratio of -106.19 and a beta of 1.17.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Sunday, November 15th. The network technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.29. Palo Alto Networks had a negative return on equity of 9.61% and a negative net margin of 7.83%. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post -0.21 earnings per share for the current year.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software 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.

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

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