Parallel Advisors LLC lifted its holdings in shares of Palo Alto Networks Inc (NYSE:PANW) by 6.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,730 shares of the network technology company’s stock after purchasing an additional 176 shares during the period. Parallel Advisors LLC’s holdings in Palo Alto Networks were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Flossbach von Storch AG Zurich acquired a new position in Palo Alto Networks during the second quarter worth $2,837,000. Crossmark Global Holdings Inc. boosted its stake in Palo Alto Networks by 29.1% during the second quarter. Crossmark Global Holdings Inc. now owns 12,800 shares of the network technology company’s stock worth $2,608,000 after buying an additional 2,883 shares during the last quarter. Zions Bancorporation N.A. boosted its stake in Palo Alto Networks by 44.6% during the second quarter. Zions Bancorporation N.A. now owns 1,170 shares of the network technology company’s stock worth $238,000 after buying an additional 361 shares during the last quarter. Pennsylvania Trust Co boosted its stake in Palo Alto Networks by 6.3% during the second quarter. Pennsylvania Trust Co now owns 1,685 shares of the network technology company’s stock worth $344,000 after buying an additional 100 shares during the last quarter. Finally, Chesley Taft & Associates LLC boosted its stake in Palo Alto Networks by 3.7% during the second quarter. Chesley Taft & Associates LLC now owns 26,931 shares of the network technology company’s stock worth $5,487,000 after buying an additional 960 shares during the last quarter. 78.77% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $210.66, for a total value of $2,527,920.00. Following the completion of the sale, the executive vice president now directly owns 924,695 shares of the company’s stock, valued at approximately $194,796,248.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $207.78, for a total value of $8,311,200.00. Following the completion of the sale, the director now directly owns 240,236 shares of the company’s stock, valued at $49,916,236.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,610 shares of company stock valued at $16,437,971. Insiders own 2.30% of the company’s stock.

Shares of PANW traded up $3.13 during mid-day trading on Friday, reaching $237.00. The company’s stock had a trading volume of 348,997 shares, compared to its average volume of 938,257. Palo Alto Networks Inc has a 12-month low of $160.08 and a 12-month high of $260.63. The stock has a market cap of $22.68 billion, a PE ratio of 376.18 and a beta of 0.99. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.78 and a quick ratio of 1.78. The company’s 50 day moving average is $215.30 and its 200 day moving average is $215.75.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Wednesday, September 4th. The network technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). The business had revenue of $805.80 million during the quarter, compared to analysts’ expectations of $803.56 million. Palo Alto Networks had a negative net margin of 2.82% and a positive return on equity of 4.82%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. As a group, sell-side analysts anticipate that Palo Alto Networks Inc will post -0.05 EPS for the current fiscal year.

A number of research firms have weighed in on PANW. JPMorgan Chase & Co. boosted their price objective on Palo Alto Networks from $270.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Maxim Group boosted their price objective on Palo Alto Networks from $304.00 to $316.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. ValuEngine raised Palo Alto Networks from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets lowered their price objective on Palo Alto Networks from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, SunTrust Banks began coverage on Palo Alto Networks in a research note on Wednesday, October 2nd. They set a “buy” rating and a $246.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $261.03.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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

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