Sciencast Management LP acquired a new position in Palo Alto Networks Inc (NYSE:PANW) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,925 shares of the network technology company’s stock, valued at approximately $2,398,000. Palo Alto Networks accounts for 0.9% of Sciencast Management LP’s holdings, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Palo Alto Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,709,183 shares of the network technology company’s stock valued at $1,736,571,000 after purchasing an additional 94,743 shares during the period. Vanguard Group Inc increased its position in Palo Alto Networks by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 7,709,183 shares of the network technology company’s stock valued at $1,736,571,000 after buying an additional 94,743 shares in the last quarter. Morgan Stanley increased its position in Palo Alto Networks by 5.4% during the 3rd quarter. Morgan Stanley now owns 1,433,131 shares of the network technology company’s stock valued at $322,827,000 after buying an additional 73,391 shares in the last quarter. Northern Trust Corp increased its position in Palo Alto Networks by 3.5% during the 4th quarter. Northern Trust Corp now owns 1,135,398 shares of the network technology company’s stock valued at $213,853,000 after buying an additional 38,069 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Palo Alto Networks by 17.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,087,826 shares of the network technology company’s stock valued at $204,891,000 after buying an additional 158,322 shares in the last quarter. Institutional investors and hedge funds own 80.88% of the company’s stock.

Shares of PANW traded up $3.02 during mid-day trading on Monday, reaching $247.68. 29,797 shares of the company’s stock traded hands, compared to its average volume of 1,094,722. The stock has a market cap of $23.15 billion, a price-to-earnings ratio of -449.45, a P/E/G ratio of 11.77 and a beta of 0.85. Palo Alto Networks Inc has a 12 month low of $160.08 and a 12 month high of $260.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.87 and a current ratio of 1.87.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Tuesday, February 26th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.29. The firm had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $682.32 million. Palo Alto Networks had a positive return on equity of 4.69% and a negative net margin of 3.47%. The company’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. As a group, analysts predict that Palo Alto Networks Inc will post 0.89 earnings per share for the current fiscal year.

Several analysts recently commented on the company. Zacks Investment Research raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $228.00 price objective for the company in a report on Friday, January 18th. BMO Capital Markets upgraded Palo Alto Networks from a “market perform” rating to an “outperform” rating and set a $240.00 target price on the stock in a research report on Tuesday, January 22nd. They noted that the move was a valuation call. UBS Group upgraded Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Tuesday, January 22nd. Wedbush upgraded Palo Alto Networks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $225.00 to $265.00 in a research report on Thursday, January 24th. Finally, ValuEngine upgraded Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $268.60.

In related news, Director Mark D. Mclaughlin sold 6,200 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $250.04, for a total value of $1,550,248.00. Following the completion of the sale, the director now owns 215,206 shares in the company, valued at $53,810,108.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $242.37, for a total value of $1,090,665.00. Following the completion of the sale, the executive vice president now owns 303,720 shares of the company’s stock, valued at approximately $73,612,616.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,374 shares of company stock worth $58,037,679. Insiders own 3.10% of the company’s stock.

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About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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

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