Palo Alto Networks, Inc. (PANW) Stake Lifted by First Republic Investment Management Inc.

First Republic Investment Management Inc. lifted its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 13.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,723 shares of the network technology company’s stock after acquiring an additional 5,824 shares during the period. First Republic Investment Management Inc. owned 0.05% of Palo Alto Networks worth $7,021,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Palo Alto Networks by 3.6% in the second 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 during the period. American Century Companies Inc. raised its holdings in Palo Alto Networks by 36.0% in the third 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 during the period. CI Global Investments Inc. raised its holdings in Palo Alto Networks by 2.4% in the second 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 during the period. Northern Trust Corp raised its holdings in Palo Alto Networks by 109.9% in the second 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 during the period. Finally, Ameriprise Financial Inc. raised its holdings in Palo Alto Networks by 35.5% in the third 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 during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

In other news, insider Nir Zuk sold 146,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $149.86, for a total transaction of $21,879,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley J. Meresman sold 2,000 shares of the firm’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 transaction of $302,020.00. The disclosure for this sale can be found here. Insiders have sold 345,213 shares of company stock valued at $51,243,441 in the last three months. Corporate insiders own 4.80% of the company’s stock.

Palo Alto Networks, Inc. (NYSE:PANW) traded up $1.06 during mid-day trading on Friday, hitting $143.89. 1,111,266 shares of the stock were exchanged, compared to its average volume of 2,042,402. Palo Alto Networks, Inc. has a twelve month low of $107.31 and a twelve month high of $157.65.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The business had revenue of $505.50 million during the quarter, compared to the consensus estimate of $489.36 million. During the same quarter last year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. research analysts expect that Palo Alto Networks, Inc. will post -0.37 EPS for the current fiscal year.

Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a report on Tuesday, November 28th. Evercore ISI restated an “in-line” rating and issued a $145.00 price target (up previously from $140.00) on shares of Palo Alto Networks in a report on Friday, September 1st. UBS restated a “neutral” rating and issued a $146.00 price target (up previously from $140.00) on shares of Palo Alto Networks in a report on Friday, September 1st. Jefferies Group restated a “buy” rating and issued a $183.00 price target (up previously from $168.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $173.00 price target (up previously from $155.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $162.84.

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About Palo Alto Networks

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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