Aviva PLC boosted its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 55,116 shares of the network technology company’s stock after buying an additional 290 shares during the period. Aviva PLC owned 0.06% of Palo Alto Networks worth $7,378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Palo Alto Networks by 20.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,960 shares of the network technology company’s stock valued at $1,798,000 after buying an additional 2,751 shares during the last quarter. Goodwin Daniel L purchased a new position in shares of Palo Alto Networks during the first quarter valued at approximately $473,000. Tocqueville Asset Management L.P. boosted its position in shares of Palo Alto Networks by 299.2% in the first quarter. Tocqueville Asset Management L.P. now owns 101,697 shares of the network technology company’s stock valued at $11,459,000 after buying an additional 76,224 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in shares of Palo Alto Networks by 5.9% in the first quarter. Arcadia Investment Management Corp MI now owns 45,126 shares of the network technology company’s stock valued at $5,085,000 after buying an additional 2,499 shares during the last quarter. Finally, BB&T Corp purchased a new position in shares of Palo Alto Networks during the first quarter valued at approximately $331,000. Institutional investors own 77.05% of the company’s stock.

Palo Alto Networks, Inc. (NYSE PANW) opened at 130.08 on Wednesday. Palo Alto Networks, Inc. has a 12 month low of $107.31 and a 12 month high of $165.69. The company has a 50 day moving average price of $134.20 and a 200 day moving average price of $127.24. The firm’s market capitalization is $11.94 billion.

Palo Alto Networks (NYSE:PANW) last announced 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 return on equity of 23.77% and a negative net margin of 14.38%. The firm had revenue of $431.80 million during the quarter, compared to analyst estimates of $412.11 million. During the same quarter in the prior year, the company earned $0.42 EPS. The business’s revenue was up 24.9% compared to the same quarter last year. Analysts anticipate that Palo Alto Networks, Inc. will post $2.59 earnings per share for the current fiscal year.

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Several analysts recently commented on PANW shares. BidaskClub upgraded shares of 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 price target (up from $130.00) on shares of Palo Alto Networks in a report on Monday, June 5th. Susquehanna Bancshares Inc started coverage on shares of Palo Alto Networks in a report on Wednesday, June 7th. They set a “neutral” rating and a $145.00 price target for the company. Citigroup Inc. restated a “neutral” rating and set a $147.00 price target (up from $130.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Finally, Barclays PLC restated an “overweight” rating and set a $158.00 price target (up from $145.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and twenty-seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $149.74.

In other news, Director James J. Goetz sold 30,000 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $137.97, for a total value 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 approximately $37,478,860.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.80% of the stock is currently owned by corporate 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.

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

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