California Public Employees Retirement System boosted its position in Palo Alto Networks, Inc. (NYSE:PANW) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 165,400 shares of the network technology company’s stock after purchasing an additional 2,600 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Palo Alto Networks worth $23,834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PANW. Global X Management Co. LLC increased its holdings in shares of Palo Alto Networks by 24.4% during the second quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock valued at $156,000 after acquiring an additional 229 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Palo Alto Networks by 8.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,838 shares of the network technology company’s stock valued at $20,586,000 after buying an additional 11,488 shares in the last quarter. State of Wisconsin Investment Board lifted its position in shares of Palo Alto Networks by 18.5% during the 2nd quarter. State of Wisconsin Investment Board now owns 99,532 shares of the network technology company’s stock valued at $13,318,000 after buying an additional 15,543 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of Palo Alto Networks during the 2nd quarter valued at approximately $226,000. Finally, Legal & General Group Plc lifted its position in shares of Palo Alto Networks by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 368,106 shares of the network technology company’s stock valued at $49,256,000 after buying an additional 4,738 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

A number of research analysts have weighed in on the company. Morgan Stanley upgraded Palo Alto Networks from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $185.00 in a report on Tuesday, October 10th. William Blair restated a “market perform” rating on shares of Palo Alto Networks in a report on Tuesday, September 5th. Dougherty & Co restated a “buy” rating and issued a $165.00 price objective (up previously from $155.00) on shares of Palo Alto Networks in a report on Tuesday, September 5th. Royal Bank of Canada raised their target price on Palo Alto Networks from $145.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, September 1st. Finally, Summit Redstone raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $162.84.

Palo Alto Networks, Inc. (PANW) opened at $148.94 on Wednesday. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $157.65.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.68 by $0.06. The company had revenue of $505.50 million for the quarter, compared to analyst estimates of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The firm’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. equities analysts predict that Palo Alto Networks, Inc. will post -0.37 EPS for the current year.

In other news, President Mark Anderson sold 15,614 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $144.16, for a total value of $2,250,914.24. Following the transaction, the president now owns 186,413 shares of the company’s stock, valued at $26,873,298.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nir Zuk sold 28,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $148.08, for a total value of $4,146,240.00. Following the completion of the transaction, the executive vice president now directly owns 1,467,309 shares in the company, valued at approximately $217,279,116.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 350,387 shares of company stock worth $52,236,060. 4.80% of the stock is currently owned by corporate insiders.

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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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