Korea Investment CORP boosted its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 8.2% during the second quarter, Holdings Channel reports. The institutional investor owned 44,586 shares of the network technology company’s stock after buying an additional 3,390 shares during the period. Korea Investment CORP’s holdings in Palo Alto Networks were worth $5,966,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PANW. Vanguard Group Inc. boosted its stake in shares of Palo Alto Networks by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,007,233 shares of the network technology company’s stock worth $789,575,000 after buying an additional 263,433 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Palo Alto Networks by 16.7% in the first quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock worth $242,578,000 after buying an additional 307,800 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Palo Alto Networks by 11.3% in the first quarter. Clearbridge Investments LLC now owns 1,888,116 shares of the network technology company’s stock worth $212,753,000 after buying an additional 191,475 shares in the last quarter. CI Global Investments Inc. boosted its stake in shares of Palo Alto Networks by 17.4% in the first quarter. CI Global Investments Inc. now owns 1,580,240 shares of the network technology company’s stock worth $178,061,000 after buying an additional 234,623 shares in the last quarter. Finally, Harbour Capital Advisors LLC boosted its stake in shares of 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 buying an additional 1,163,306 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Palo Alto Networks, Inc. (NYSE:PANW) opened at 128.84 on Friday. The stock has a 50 day moving average of $135.30 and a 200-day moving average of $128.34. The firm’s market cap is $11.83 billion. Palo Alto Networks, Inc. has a 12 month low of $107.31 and a 12 month high of $165.69.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm had revenue of $431.80 million for the quarter, compared to analysts’ expectations of $412.11 million. During the same quarter last year, the business earned $0.42 earnings per share. The business’s revenue was up 24.9% on a year-over-year basis. Equities research analysts predict that Palo Alto Networks, Inc. will post $2.59 earnings per share for the current fiscal year.

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A number of analysts have commented on PANW shares. Vetr cut shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating and set a $137.50 price target for the company. in a research note on Thursday, June 1st. BMO Capital Markets cut their price target on shares of Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating for the company in a research note on Friday, April 21st. BidaskClub cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. BTIG Research reiterated a “buy” rating and issued a $155.00 price target on shares of Palo Alto Networks in a research note on Thursday, June 1st. Finally, Cowen and Company reiterated an “outperform” rating and issued a $165.00 price target (up previously from $150.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $150.94.

In other news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. Following the transaction, the director now owns 271,645 shares in the company, valued at $37,478,860.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is currently owned by company insiders.

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.

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

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