96,767 Shares in Palo Alto Networks Inc (PANW) Acquired by Mckinley Capital Management LLC Delaware

Mckinley Capital Management LLC Delaware purchased a new stake in shares of Palo Alto Networks Inc (NYSE:PANW) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 96,767 shares of the network technology company’s stock, valued at approximately $14,026,000. Mckinley Capital Management LLC Delaware owned about 0.11% of Palo Alto Networks at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in Palo Alto Networks by 9.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,491 shares of the network technology company’s stock valued at $467,000 after purchasing an additional 305 shares during the last quarter. Gilman Hill Asset Management LLC grew its holdings in Palo Alto Networks by 6.7% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 5,443 shares of the network technology company’s stock valued at $784,000 after purchasing an additional 340 shares during the last quarter. Strs Ohio grew its holdings in Palo Alto Networks by 5.9% during the 3rd quarter. Strs Ohio now owns 6,225 shares of the network technology company’s stock valued at $897,000 after purchasing an additional 347 shares during the last quarter. Nine Chapters Capital Management LLC grew its holdings in Palo Alto Networks by 18.2% during the 3rd quarter. Nine Chapters Capital Management LLC now owns 2,600 shares of the network technology company’s stock valued at $375,000 after purchasing an additional 400 shares during the last quarter. Finally, Analyst IMS Investment Management Services Ltd. grew its holdings in Palo Alto Networks by 5.2% during the 3rd quarter. Analyst IMS Investment Management Services Ltd. now owns 9,330 shares of the network technology company’s stock valued at $1,306,000 after purchasing an additional 460 shares during the last quarter. Institutional investors own 79.18% of the company’s stock.

In related news, CEO Mark D. Mclaughlin sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. Following the completion of the sale, the chief executive officer now owns 323,610 shares of the company’s stock, valued at $51,777,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark D. Mclaughlin sold 35,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $157.67, for a total transaction of $5,518,450.00. The disclosure for this sale can be found here. Insiders have sold 396,644 shares of company stock valued at $59,381,588 in the last three months. 4.80% of the stock is currently owned by corporate insiders.

Shares of Palo Alto Networks Inc (NYSE PANW) opened at $155.25 on Tuesday. Palo Alto Networks Inc has a 52-week low of $107.31 and a 52-week high of $160.83. The firm has a market cap of $14,270.00, a P/E ratio of -63.11 and a beta of 1.04.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $505.50 million during the quarter, compared to analysts’ expectations of $489.36 million. During the same quarter in the prior year, the company earned $0.55 EPS. The company’s revenue was up 27.0% compared to the same quarter last year. analysts predict that Palo Alto Networks Inc will post -0.37 earnings per share for the current year.

Several brokerages recently commented on PANW. 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. Jefferies Group restated a “buy” rating and issued a $183.00 target price (up from $168.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Piper Jaffray Companies restated an “overweight” rating and issued a $173.00 target price (up from $155.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Royal Bank of Canada upped their target price on shares of Palo Alto Networks from $159.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 21st. Finally, Evercore ISI upgraded shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and set a $180.00 target price on the stock in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirty-four have issued a buy rating to the stock. Palo Alto Networks has an average rating of “Buy” and an average price target of $167.39.

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Palo Alto Networks Company 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.

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

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