Prudential Financial Inc. grew its holdings in Palo Alto Networks, Inc. (NYSE:PANW) by 14.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,000 shares of the network technology company’s stock after buying an additional 780 shares during the quarter. Prudential Financial Inc.’s holdings in Palo Alto Networks were worth $803,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PANW. Waldron LP increased its stake in shares of Palo Alto Networks by 105.2% in the first quarter. Waldron LP now owns 12,850 shares of the network technology company’s stock valued at $1,749,000 after buying an additional 6,587 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Palo Alto Networks by 9.9% in the first quarter. UBS Asset Management Americas Inc. now owns 240,802 shares of the network technology company’s stock valued at $27,134,000 after buying an additional 21,780 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Palo Alto Networks by 16.9% in the first quarter. Parametric Portfolio Associates LLC now owns 71,757 shares of the network technology company’s stock valued at $8,086,000 after buying an additional 10,360 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Palo Alto Networks by 19.9% in the first quarter. Mutual of America Capital Management LLC now owns 2,407 shares of the network technology company’s stock valued at $271,000 after buying an additional 399 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Palo Alto Networks by 37.7% in the first quarter. Pacer Advisors Inc. now owns 2,580 shares of the network technology company’s stock valued at $291,000 after buying an additional 707 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

In other Palo Alto Networks news, Director Carl M. Eschenbach sold 1,572 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $144.99, for a total value of $227,924.28. Following the completion of the sale, the director now directly owns 3,619 shares of the company’s stock, valued at $524,718.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nir Zuk sold 2,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $145.01, for a total value of $290,020.00. The disclosure for this sale can be found here. Insiders have sold 80,001 shares of company stock worth $11,304,354 over the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Palo Alto Networks, Inc. (NYSE PANW) opened at 147.37 on Friday. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $165.69. The company’s 50 day moving average price is $139.66 and its 200-day moving average price is $128.44. The firm’s market capitalization is $13.53 billion.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). The business had revenue of $509.00 million for the quarter, compared to the consensus estimate 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 business’s revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post $3.33 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on PANW. Rosenblatt Securities restated a “buy” rating and issued a $160.00 target price on shares of Palo Alto Networks in a research note on Friday, September 1st. J P Morgan Chase & Co restated a “neutral” rating and issued a $168.00 target price (up from $155.00) on shares of Palo Alto Networks in a research note on Sunday, September 3rd. Stifel Nicolaus restated a “buy” rating and issued a $180.00 target price on shares of Palo Alto Networks in a research note on Tuesday, September 5th. William Blair restated a “market perform” rating on shares of Palo Alto Networks in a research note on Tuesday, September 5th. Finally, Argus upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $183.00 target price for the company in a research note on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-nine have assigned a buy rating to the stock. Palo Alto Networks has an average rating of “Buy” and a consensus target price of $159.60.

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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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