Zurcher Kantonalbank Zurich Cantonalbank Purchases 14,902 Shares of Palo Alto Networks, Inc. (PANW)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 8.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 183,543 shares of the network technology company’s stock after acquiring an additional 14,902 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.20% of Palo Alto Networks worth $26,449,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PANW. Sun Life Financial INC raised its position in shares of Palo Alto Networks by 785.0% during the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after acquiring an additional 887 shares during the last quarter. Global X Management Co. LLC raised its position 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 worth $156,000 after acquiring an additional 229 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Palo Alto Networks during the third quarter worth $162,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Palo Alto Networks by 495.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after acquiring an additional 1,025 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Palo Alto Networks by 30.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after acquiring an additional 322 shares during the last quarter. Institutional investors own 78.34% of the company’s stock.

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A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on Palo Alto Networks from $160.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $183.00 price objective (up from $168.00) on shares of Palo Alto Networks in a research note on Tuesday. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $173.00 price objective (up from $155.00) on shares of Palo Alto Networks in a research note on Tuesday. Royal Bank Of Canada lifted their price objective on Palo Alto Networks from $159.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, FBN Securities raised Palo Alto Networks from a “sector perform” rating to an “outperform” rating in a research note on Tuesday. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $162.18.

In other news, Director Stanley J. Meresman sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $151.01, for a total value of $302,020.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carl M. Eschenbach sold 1,572 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $144.99, for a total value of $227,924.28. Following the completion of the transaction, the director now directly owns 3,619 shares in the company, valued at approximately $524,718.81. The disclosure for this sale can be found here. Insiders sold 284,744 shares of company stock worth $42,239,296 in the last ninety days. 4.80% of the stock is owned by company insiders.

Palo Alto Networks, Inc. (NYSE PANW) traded up $8.33 during trading on Tuesday, hitting $150.86. The stock had a trading volume of 7,161,318 shares, compared to its average volume of 1,748,208. Palo Alto Networks, Inc. has a 52 week low of $107.31 and a 52 week high of $162.64. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.65 and a current ratio of 1.65.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company had revenue of $505.50 million for the quarter, compared to the consensus estimate of $489.36 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. analysts anticipate that Palo Alto Networks, Inc. will post -0.5 EPS for the current year.

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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