Axa lifted its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 10.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,687 shares of the network technology company’s stock after buying an additional 10,504 shares during the quarter. Axa owned about 0.12% of Palo Alto Networks worth $14,276,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WFG Advisors LP raised its stake in shares of Palo Alto Networks by 5.9% in the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock worth $101,000 after buying an additional 50 shares during the period. Global X Management Co. LLC raised its stake in Palo Alto Networks by 31.9% during the 1st quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after purchasing an additional 227 shares during the period. First Interstate Bank raised its stake in Palo Alto Networks by 130.7% during the 1st quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock valued at $155,000 after purchasing an additional 779 shares during the period. Salem Investment Counselors Inc. bought a new stake in Palo Alto Networks during the 1st quarter valued at approximately $191,000. Finally, OLD National Bancorp IN bought a new stake in Palo Alto Networks during the 2nd quarter valued at approximately $201,000. 77.05% of the stock is currently owned by hedge funds and other institutional investors.

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Palo Alto Networks, Inc. (PANW) opened at 144.03 on Monday. The stock has a 50 day moving average price of $133.97 and a 200-day moving average price of $126.23. The stock’s market cap is $13.23 billion. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $165.69.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.79 by $0.92. The business had revenue of $509 million during the quarter, compared to analysts’ expectations of $487.53 million. Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 earnings per share. Equities research analysts expect that Palo Alto Networks, Inc. will post $3.34 earnings per share for the current fiscal year.

Several analysts recently issued reports on PANW shares. Jefferies Group LLC raised Palo Alto Networks from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $150.00 in a research note on Friday, May 19th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $173.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 23rd. Zacks Investment Research raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research note on Tuesday, May 23rd. CIBC reissued an “outperform” rating and set a $173.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 24th. Finally, Cowen and Company reissued an “outperform” rating and set a $150.00 target price on shares of Palo Alto Networks in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $157.91.

In other news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was 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 directly owns 271,645 shares in the company, valued at $37,478,860.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.80% of the company’s stock.

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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