Sheaff Brock Investment Advisors LLC Invests $230,000 in Palo Alto Networks, Inc. (PANW) Stock

Sheaff Brock Investment Advisors LLC purchased a new stake in Palo Alto Networks, Inc. (NYSE:PANW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,595 shares of the network technology company’s stock, valued at approximately $230,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Palo Alto Networks by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 7,262,069 shares of the network technology company’s stock valued at $971,738,000 after buying an additional 254,836 shares in the last quarter. American Century Companies Inc. boosted its stake in Palo Alto Networks by 36.0% in the 3rd quarter. American Century Companies Inc. now owns 2,376,862 shares of the network technology company’s stock valued at $342,506,000 after buying an additional 629,523 shares in the last quarter. CI Global Investments Inc. boosted its stake in Palo Alto Networks by 2.4% in the 2nd quarter. CI Global Investments Inc. now owns 1,617,837 shares of the network technology company’s stock valued at $216,483,000 after buying an additional 37,597 shares in the last quarter. Northern Trust Corp boosted its stake in Palo Alto Networks by 109.9% in the 2nd quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock valued at $152,883,000 after buying an additional 598,115 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Palo Alto Networks by 35.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,068,289 shares of the network technology company’s stock valued at $153,798,000 after buying an additional 279,602 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

In other Palo Alto Networks news, insider Nir Zuk sold 146,000 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $149.86, for a total value of $21,879,560.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Rene Bonvanie sold 16,596 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $151.83, for a total value of $2,519,770.68. Following the completion of the sale, the chief marketing officer now owns 95,584 shares of the company’s stock, valued at $14,512,518.72. The disclosure for this sale can be found here. Insiders sold 346,785 shares of company stock valued at $51,471,366 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

A number of research firms have commented on PANW. Dougherty & Co boosted their price objective on Palo Alto Networks from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, September 28th. Zacks Investment Research lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Robert W. Baird reissued a “hold” rating and issued a $149.00 price objective on shares of Palo Alto Networks in a research note on Thursday, September 28th. Oppenheimer reissued a “buy” rating and issued a $173.00 price objective on shares of Palo Alto Networks in a research note on Thursday, September 28th. Finally, ValuEngine raised Palo Alto Networks from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $162.84.

Palo Alto Networks, Inc. (NYSE:PANW) traded down $1.45 during midday trading on Thursday, reaching $141.37. The company had a trading volume of 1,719,500 shares, compared to its average volume of 1,771,524. Palo Alto Networks, Inc. has a fifty-two week low of $107.31 and a fifty-two week high of $157.65.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. The business had revenue of $505.50 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. equities analysts expect that Palo Alto Networks, Inc. will post -0.37 EPS for the current fiscal year.

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Palo Alto Networks 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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