Palo Alto Networks Inc (PANW) Stake Increased by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in Palo Alto Networks Inc (NYSE:PANW) by 33.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 74,678 shares of the network technology company’s stock after buying an additional 18,776 shares during the quarter. Russell Investments Group Ltd.’s holdings in Palo Alto Networks were worth $16,828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Palo Alto Networks by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 91,872 shares of the network technology company’s stock valued at $16,677,000 after purchasing an additional 429 shares during the last quarter. DnB Asset Management AS raised its holdings in shares of Palo Alto Networks by 3.9% in the second quarter. DnB Asset Management AS now owns 10,600 shares of the network technology company’s stock valued at $2,178,000 after purchasing an additional 400 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Palo Alto Networks by 46.6% in the second quarter. IFM Investors Pty Ltd now owns 4,075 shares of the network technology company’s stock valued at $837,000 after purchasing an additional 1,295 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Palo Alto Networks by 87.3% in the second quarter. State of Alaska Department of Revenue now owns 22,790 shares of the network technology company’s stock valued at $4,682,000 after purchasing an additional 10,621 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of Palo Alto Networks in the second quarter valued at about $517,000. 80.09% of the stock is owned by institutional investors and hedge funds.

PANW opened at $183.09 on Friday. The stock has a market capitalization of $17.86 billion, a PE ratio of -332.89, a price-to-earnings-growth ratio of 13.30 and a beta of 1.22. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.93 and a quick ratio of 1.93. Palo Alto Networks Inc has a twelve month low of $135.85 and a twelve month high of $239.50.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Thursday, September 6th. The network technology company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The firm had revenue of $658.10 million during the quarter, compared to the consensus estimate of $634.14 million. Palo Alto Networks had a negative net margin of 6.51% and a negative return on equity of 4.12%. The company’s revenue was up 29.3% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. On average, equities research analysts anticipate that Palo Alto Networks Inc will post 0.61 EPS for the current fiscal year.

In other news, Director Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $235.24, for a total value of $9,409,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathleen Bonanno sold 467 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $213.03, for a total transaction of $99,485.01. Following the completion of the transaction, the chief financial officer now owns 34,954 shares of the company’s stock, valued at $7,446,250.62. The disclosure for this sale can be found here. Insiders sold 285,178 shares of company stock valued at $62,189,621 in the last quarter. Corporate insiders own 3.10% of the company’s stock.

Several analysts have recently commented on PANW shares. ValuEngine upgraded shares of Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, August 3rd. Zacks Investment Research downgraded shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Raymond James raised their price objective on shares of Palo Alto Networks from $240.00 to $254.00 and gave the stock an “outperform” rating in a report on Wednesday, September 5th. Evercore ISI restated a “buy” rating and set a $270.00 price objective on shares of Palo Alto Networks in a report on Friday, September 7th. Finally, Jefferies Financial Group raised their price objective on shares of Palo Alto Networks to $267.00 and gave the stock a “buy” rating in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $240.94.

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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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