Stephens Investment Management Group LLC Has $22.19 Million Stock Position in Palo Alto Networks Inc (NYSE:PANW)

Stephens Investment Management Group LLC grew its stake in Palo Alto Networks Inc (NYSE:PANW) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 108,921 shares of the network technology company’s stock after purchasing an additional 1,789 shares during the quarter. Stephens Investment Management Group LLC owned about 0.11% of Palo Alto Networks worth $22,194,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Palo Alto Networks by 4.3% during the 1st quarter. BlackRock Inc. now owns 5,453,457 shares of the network technology company’s stock worth $1,324,534,000 after purchasing an additional 224,298 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Palo Alto Networks by 2.9% during the 1st quarter. Clearbridge Investments LLC now owns 2,734,047 shares of the network technology company’s stock worth $664,045,000 after purchasing an additional 77,503 shares in the last quarter. Northern Trust Corp increased its holdings in Palo Alto Networks by 1.8% during the 1st quarter. Northern Trust Corp now owns 1,155,831 shares of the network technology company’s stock worth $280,728,000 after purchasing an additional 20,433 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in Palo Alto Networks by 11.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 999,285 shares of the network technology company’s stock worth $242,706,000 after purchasing an additional 104,207 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Palo Alto Networks by 3.6% during the 1st quarter. Lazard Asset Management LLC now owns 979,324 shares of the network technology company’s stock worth $237,857,000 after purchasing an additional 33,861 shares in the last quarter. 79.51% of the stock is currently owned by institutional investors.

Palo Alto Networks stock traded up $3.88 during midday trading on Friday, reaching $218.49. 18,721 shares of the company’s stock were exchanged, compared to its average volume of 917,845. Palo Alto Networks Inc has a 52 week low of $160.08 and a 52 week high of $260.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of -395.10, a P/E/G ratio of 7.55 and a beta of 0.90. The stock’s 50-day simple moving average is $216.86 and its 200 day simple moving average is $225.60.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Wednesday, May 29th. The network technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Palo Alto Networks had a positive return on equity of 5.42% and a negative net margin of 2.30%. The business had revenue of $726.60 million for the quarter, compared to the consensus estimate of $704.89 million. During the same quarter in the previous year, the business posted $0.99 EPS. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. Research analysts forecast that Palo Alto Networks Inc will post 0.87 earnings per share for the current year.

PANW has been the subject of a number of research reports. Northland Securities reiterated a “hold” rating and set a $240.00 target price on shares of Palo Alto Networks in a report on Thursday, May 30th. Credit Suisse Group lowered their target price on Palo Alto Networks from $190.00 to $185.00 and set an “underperform” rating for the company in a report on Thursday, May 30th. Jefferies Financial Group lowered their target price on Palo Alto Networks from $296.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Zacks Investment Research cut Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. lowered their target price on Palo Alto Networks from $293.00 to $270.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Palo Alto Networks presently has an average rating of “Buy” and an average target price of $263.03.

In related news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $226.80, for a total transaction of $2,721,600.00. Following the completion of the transaction, the executive vice president now owns 926,861 shares in the company, valued at $210,212,074.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark D. Mclaughlin sold 40,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $227.43, for a total value of $9,097,200.00. Following the transaction, the director now owns 240,236 shares of the company’s stock, valued at approximately $54,636,873.48. The disclosure for this sale can be found here. Insiders have sold 186,092 shares of company stock valued at $39,067,840 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Palo Alto Networks Company Profile

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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