Schroder Investment Management Group Grows Position in Palo Alto Networks Inc (PANW)

Schroder Investment Management Group increased its holdings in Palo Alto Networks Inc (NYSE:PANW) by 123.4% during the second quarter, HoldingsChannel reports. The firm owned 94,104 shares of the network technology company’s stock after purchasing an additional 51,979 shares during the period. Schroder Investment Management Group’s holdings in Palo Alto Networks were worth $19,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Global X Management Co LLC raised its holdings in shares of Palo Alto Networks by 455.0% in the 2nd quarter. Global X Management Co LLC now owns 7,204 shares of the network technology company’s stock worth $1,480,000 after purchasing an additional 5,906 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Palo Alto Networks by 242.3% during the second quarter. Bank of Nova Scotia now owns 106,100 shares of the network technology company’s stock valued at $21,800,000 after acquiring an additional 75,100 shares during the period. Morse Asset Management Inc raised its holdings in shares of Palo Alto Networks by 42.0% during the second quarter. Morse Asset Management Inc now owns 11,208 shares of the network technology company’s stock valued at $2,303,000 after acquiring an additional 3,313 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Palo Alto Networks by 3,730.0% during the second quarter. Advisors Asset Management Inc. now owns 91,040 shares of the network technology company’s stock valued at $894,000 after acquiring an additional 88,663 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Palo Alto Networks by 19.5% during the second quarter. California Public Employees Retirement System now owns 205,852 shares of the network technology company’s stock valued at $42,296,000 after acquiring an additional 33,531 shares during the period. Institutional investors and hedge funds own 80.61% of the company’s stock.

Shares of PANW opened at $230.66 on Tuesday. Palo Alto Networks Inc has a 52 week low of $135.85 and a 52 week high of $239.50. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.42.

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

A number of research firms have recently issued reports on PANW. Zacks Investment Research lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Argus boosted their price target on shares of Palo Alto Networks to $275.00 and gave the company a “buy” rating in a report on Monday, September 10th. Citigroup boosted their price target on shares of Palo Alto Networks from $237.00 to $270.00 and gave the company a “buy” rating in a report on Friday, September 7th. Rosenblatt Securities boosted their price target on shares of Palo Alto Networks to $280.00 and gave the company a “buy” rating in a report on Friday, September 7th. Finally, Credit Suisse Group boosted their price target on shares of Palo Alto Networks from $175.00 to $185.00 and gave the company an “underperform” rating in a report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $237.78.

In other Palo Alto Networks news, EVP Nir Zuk sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $234.70, for a total value of $7,041,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $200.12, for a total transaction of $8,004,800.00. The disclosure for this sale can be found here. Insiders sold 262,447 shares of company stock valued at $56,739,670 over the last three months. Insiders own 4.80% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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

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