Ropes Wealth Advisors LLC raised its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 195.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,269 shares of the network technology company’s stock after purchasing an additional 1,500 shares during the period. Ropes Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $304,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fox Run Management L.L.C. purchased a new stake in shares of Palo Alto Networks during the 2nd quarter worth about $415,000. Diversified Trust Co raised its stake in shares of Palo Alto Networks by 7.6% during the 2nd quarter. Diversified Trust Co now owns 1,993 shares of the network technology company’s stock worth $267,000 after purchasing an additional 140 shares in the last quarter. Ranger Investment Management L.P. raised its stake in shares of Palo Alto Networks by 33.6% during the 1st quarter. Ranger Investment Management L.P. now owns 2,980 shares of the network technology company’s stock worth $336,000 after purchasing an additional 750 shares in the last quarter. Heritage Investors Management Corp raised its stake in shares of Palo Alto Networks by 51.3% during the 2nd quarter. Heritage Investors Management Corp now owns 37,631 shares of the network technology company’s stock worth $5,035,000 after purchasing an additional 12,759 shares in the last quarter. Finally, HM Payson & Co. raised its stake in shares of Palo Alto Networks by 0.3% during the 1st quarter. HM Payson & Co. now owns 6,755 shares of the network technology company’s stock worth $761,000 after purchasing an additional 19 shares in the last quarter. 77.03% of the stock is owned by institutional investors.

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In related news, President Mark Anderson sold 44,429 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $143.10, for a total transaction of $6,357,789.90. Following the sale, the president now owns 176,290 shares of the company’s stock, valued at approximately $25,227,099. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carl M. Eschenbach sold 1,572 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $144.99, for a total value of $227,924.28. Following the sale, the director now directly owns 3,619 shares in the company, valued at approximately $524,718.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,001 shares of company stock worth $11,014,834. 4.80% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on PANW. Piper Jaffray Companies set a $146.00 price objective on Palo Alto Networks and gave the company a “buy” rating in a research note on Friday, August 25th. Cowen and Company reissued an “outperform” rating and issued a $165.00 price objective (up from $150.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. Rosenblatt Securities reissued a “buy” rating and issued a $160.00 price objective on shares of Palo Alto Networks in a research note on Friday, September 1st. Deutsche Bank AG reissued a “hold” rating and issued a $135.00 price objective (up from $125.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. Finally, Susquehanna Bancshares Inc began coverage on Palo Alto Networks in a research note on Wednesday, June 7th. They issued a “neutral” rating and a $145.00 price objective on the stock. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $157.91.

Palo Alto Networks, Inc. (NYSE:PANW) traded down 0.68% during midday trading on Monday, hitting $139.31. The stock had a trading volume of 193,516 shares. The company’s 50-day moving average price is $135.34 and its 200 day moving average price is $126.14. Palo Alto Networks, Inc. has a 52 week low of $107.31 and a 52 week high of $165.69. The company’s market capitalization is $12.79 billion.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $509.00 million for the quarter, compared to analyst estimates of $487.53 million. During the same period last year, the business earned $0.50 EPS. The company’s revenue was up 27.0% compared to the same quarter last year. On average, analysts expect that Palo Alto Networks, Inc. will post $3.33 EPS for the current year.

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.

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

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