OLD National Bancorp IN acquired a new stake in Palo Alto Networks, Inc. (NYSE:PANW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,500 shares of the network technology company’s stock, valued at approximately $201,000.

Several other hedge funds have also recently made changes to their positions in PANW. Bank of Montreal Can raised its stake in shares of Palo Alto Networks by 4.1% in the first quarter. Bank of Montreal Can now owns 61,034 shares of the network technology company’s stock valued at $6,877,000 after buying an additional 2,380 shares in the last quarter. National Pension Service raised its stake in shares of Palo Alto Networks by 32.1% in the first quarter. National Pension Service now owns 94,817 shares of the network technology company’s stock valued at $10,762,000 after buying an additional 23,042 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Palo Alto Networks by 3.5% in the first quarter. Gulf International Bank UK Ltd now owns 27,570 shares of the network technology company’s stock valued at $3,106,000 after buying an additional 935 shares in the last quarter. Chesley Taft & Associates LLC raised its stake in shares of Palo Alto Networks by 0.3% in the first quarter. Chesley Taft & Associates LLC now owns 22,897 shares of the network technology company’s stock valued at $2,580,000 after buying an additional 77 shares in the last quarter. Finally, New England Research & Management Inc. raised its stake in shares of Palo Alto Networks by 35.0% in the first quarter. New England Research & Management Inc. now owns 6,079 shares of the network technology company’s stock valued at $685,000 after buying an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 80.25% of the company’s stock.

Palo Alto Networks, Inc. (NYSE:PANW) traded down 0.22% during mid-day trading on Friday, reaching $130.27. 743,963 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $134.58 and a 200-day moving average of $127.85. Palo Alto Networks, Inc. has a 12 month low of $107.31 and a 12 month high of $165.69. The firm’s market cap is $11.96 billion.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Wednesday, May 31st. The network technology company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.06. The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $412.11 million. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Analysts anticipate that Palo Alto Networks, Inc. will post $2.59 earnings per share for the current year.

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PANW has been the topic of several recent research reports. BidaskClub upgraded Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. UBS AG restated a “neutral” rating and set a $140.00 target price (up from $130.00) on shares of Palo Alto Networks in a report on Monday, June 5th. Susquehanna Bancshares Inc initiated coverage on Palo Alto Networks in a report on Wednesday, June 7th. They set a “neutral” rating and a $145.00 target price on the stock. Barclays PLC restated an “overweight” rating and set a $158.00 target price (up from $145.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Finally, Citigroup Inc. restated a “neutral” rating and set a $147.00 target price (up from $130.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twenty-eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $150.94.

In other news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the completion of the transaction, the director now owns 271,645 shares of the company’s stock, valued at $37,478,860.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is currently owned by company insiders.

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.

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

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