Frontier Capital Management Co. LLC purchased a new stake in shares of Palo Alto Networks Inc (NYSE:PANW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 486,973 shares of the network technology company’s stock, valued at approximately $70,582,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sun Life Financial INC boosted its position in Palo Alto Networks by 785.0% during the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock valued at $134,000 after buying an additional 887 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Palo Alto Networks during the third quarter worth about $162,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Palo Alto Networks by 495.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after purchasing an additional 1,025 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Palo Alto Networks by 30.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after purchasing an additional 322 shares during the period. Finally, Shelton Capital Management purchased a new stake in shares of Palo Alto Networks during the second quarter worth about $201,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

A number of analysts have recently weighed in 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 target price for the company in a report on Tuesday, November 28th. Jefferies Group reiterated a “buy” rating and set a $183.00 target price (up from $168.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Piper Jaffray Companies reiterated an “overweight” rating and set a $173.00 target price (up from $155.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Royal Bank of Canada increased their target price on shares of Palo Alto Networks from $159.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, November 21st. Finally, Maxim Group reiterated a “buy” rating and set a $195.00 target price (up from $168.00) on shares of Palo Alto Networks in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirty-three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $165.74.

Palo Alto Networks Inc (NYSE:PANW) opened at $157.82 on Friday. Palo Alto Networks Inc has a one year low of $107.31 and a one year high of $158.78. The firm has a market cap of $14,172.03, a P/E ratio of -64.15 and a beta of 1.00.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, beating the Zacks’ 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 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 firm earned $0.55 earnings per share. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. equities analysts predict that Palo Alto Networks Inc will post -0.37 earnings per share for the current fiscal year.

In related news, President Mark Anderson sold 15,614 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $144.16, for a total transaction of $2,250,914.24. Following the completion of the sale, the president now owns 186,413 shares of the company’s stock, valued at $26,873,298.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James J. Goetz sold 78,000 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $146.78, for a total transaction of $11,448,840.00. The disclosure for this sale can be found here. Insiders have sold 354,644 shares of company stock valued at $52,415,318 in the last ninety days. Insiders own 4.80% of the company’s stock.

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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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