Segall Bryant & Hamill LLC acquired a new position in Palo Alto Networks Inc (NYSE:PANW) in the 2nd quarter, HoldingsChannel reports. The firm acquired 83,171 shares of the network technology company’s stock, valued at approximately $17,089,000.

Several other institutional investors have also added to or reduced their stakes in PANW. Summit Trail Advisors LLC increased its position in shares of Palo Alto Networks by 19,903.8% in the first quarter. Summit Trail Advisors LLC now owns 848,163 shares of the network technology company’s stock worth $848,000 after acquiring an additional 843,923 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Palo Alto Networks by 84.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,461,226 shares of the network technology company’s stock valued at $300,238,000 after purchasing an additional 670,016 shares during the period. Bank of Montreal Can boosted its stake in shares of Palo Alto Networks by 193.7% in the second quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock valued at $112,061,000 after purchasing an additional 359,685 shares during the period. First Trust Advisors LP boosted its stake in shares of Palo Alto Networks by 199.8% in the second quarter. First Trust Advisors LP now owns 529,520 shares of the network technology company’s stock valued at $108,800,000 after purchasing an additional 352,914 shares during the period. Finally, Strs Ohio boosted its stake in shares of Palo Alto Networks by 151.5% in the second quarter. Strs Ohio now owns 445,359 shares of the network technology company’s stock valued at $91,507,000 after purchasing an additional 268,275 shares during the period. 82.03% of the stock is owned by institutional investors.

Palo Alto Networks stock opened at $213.09 on Friday. Palo Alto Networks Inc has a 1 year low of $126.82 and a 1 year high of $219.38. The stock has a market capitalization of $19.75 billion, a PE ratio of -124.61, a price-to-earnings-growth ratio of 19.00 and a beta of 0.79.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Monday, June 4th. The network technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.08. Palo Alto Networks had a negative net margin of 8.65% and a negative return on equity of 8.51%. The company had revenue of $567.10 million for the quarter, compared to the consensus estimate of $545.79 million. research analysts anticipate that Palo Alto Networks Inc will post -0.27 earnings per share for the current year.

In related news, Director Stanley J. Meresman sold 1,979 shares of the stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $212.17, for a total value of $419,884.43. Following the sale, the director now owns 315,667 shares of the company’s stock, valued at approximately $66,975,067.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 4,000 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $214.08, for a total transaction of $856,320.00. Following the completion of the sale, the executive vice president now directly owns 384,522 shares in the company, valued at approximately $82,318,469.76. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 73,910 shares of company stock worth $15,307,149 and sold 242,195 shares worth $49,347,901. Company insiders own 4.80% of the company’s stock.

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Palo Alto Networks from $224.00 to $240.00 and gave the company a “buy” rating in a research note on Tuesday, June 5th. Wells Fargo & Co upped their target price on shares of Palo Alto Networks from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, June 5th. Maxim Group upped their target price on shares of Palo Alto Networks from $212.00 to $262.00 and gave the company a “buy” rating in a research note on Tuesday, June 5th. Jefferies Financial Group upped their target price on shares of Palo Alto Networks from $206.00 to $239.00 and gave the company a “buy” rating in a research note on Monday, June 4th. Finally, ValuEngine upgraded shares of Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $200.53.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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

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