Mirae Asset Global Investments Co. Ltd. grew its position in Palo Alto Networks Inc (NYSE:PANW) by 44.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,334 shares of the network technology company’s stock after purchasing an additional 9,311 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Palo Alto Networks were worth $6,845,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banco de Sabadell S.A bought a new position in shares of Palo Alto Networks in the second quarter valued at approximately $103,000. CIBC Private Wealth Group LLC boosted its holdings in Palo Alto Networks by 2,475.0% during the second quarter. CIBC Private Wealth Group LLC now owns 515 shares of the network technology company’s stock worth $106,000 after buying an additional 495 shares in the last quarter. First Manhattan Co. bought a new stake in Palo Alto Networks during the third quarter worth approximately $106,000. Price Capital Management Inc. bought a new stake in Palo Alto Networks during the third quarter worth approximately $113,000. Finally, NEXT Financial Group Inc bought a new stake in Palo Alto Networks during the third quarter worth approximately $125,000. Hedge funds and other institutional investors own 80.83% of the company’s stock.

In other Palo Alto Networks news, President Mark Anderson sold 30,000 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $231.92, for a total value of $6,957,600.00. Following the completion of the transaction, the president now directly owns 140,841 shares of the company’s stock, valued at $32,663,844.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 8,000 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $231.91, for a total transaction of $1,855,280.00. The disclosure for this sale can be found here. Insiders have sold a total of 284,711 shares of company stock valued at $62,090,136 over the last three months. 3.10% of the stock is currently owned by insiders.

PANW has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Palo Alto Networks to $250.00 in a research report on Friday, September 7th. Citigroup upped their price target on shares of Palo Alto Networks from $237.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Rosenblatt Securities upped their price target on shares of Palo Alto Networks to $280.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Deutsche Bank upped their price target on shares of Palo Alto Networks to $265.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Finally, Maxim Group upped their price target on shares of Palo Alto Networks from $262.00 to $274.00 and gave the company a “buy” rating in a research report on Friday, September 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $239.94.

NYSE:PANW opened at $177.25 on Thursday. The stock has a market cap of $16.82 billion, a PE ratio of -322.27, a price-to-earnings-growth ratio of 10.63 and a beta of 1.14. Palo Alto Networks Inc has a 52 week low of $140.12 and a 52 week high of $239.50. The company has a quick ratio of 1.93, a current ratio of 2.10 and a debt-to-equity ratio of 1.10.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, November 29th. The network technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $656.00 million during the quarter, compared to the consensus estimate of $632.16 million. During the same period last year, the firm posted $0.74 EPS. The firm’s quarterly revenue was up 30.7% on a year-over-year basis. On average, equities research analysts expect that Palo Alto Networks Inc will post 0.71 EPS for the current year.

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Palo Alto Networks Company Profile

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.

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

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