Quantitative Investment Management LLC Takes $9.67 Million Position in Palo Alto Networks, Inc. (PANW)

Quantitative Investment Management LLC acquired a new stake in Palo Alto Networks, Inc. (NYSE:PANW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 72,300 shares of the network technology company’s stock, valued at approximately $9,674,000. Quantitative Investment Management LLC owned about 0.08% of Palo Alto Networks as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund grew its position in shares of Palo Alto Networks by 1.8% during the 2nd quarter. New York State Common Retirement Fund now owns 194,700 shares of the network technology company’s stock worth $26,053,000 after buying an additional 3,499 shares in the last quarter. Bank Hapoalim BM grew its position in shares of Palo Alto Networks by 49.0% during the 2nd quarter. Bank Hapoalim BM now owns 3,143 shares of the network technology company’s stock worth $421,000 after buying an additional 1,033 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Palo Alto Networks by 54.8% during the 2nd quarter. ProShare Advisors LLC now owns 3,362 shares of the network technology company’s stock worth $450,000 after buying an additional 1,190 shares in the last quarter. Profund Advisors LLC bought a new position in shares of Palo Alto Networks during the 2nd quarter worth $246,000. Finally, Stevens Capital Management LP bought a new position in shares of Palo Alto Networks during the 2nd quarter worth $1,988,000. 77.00% of the stock is currently owned by institutional investors.

Shares of Palo Alto Networks, Inc. (NYSE:PANW) opened at 140.06 on Friday. The firm’s market capitalization is $12.86 billion. Palo Alto Networks, Inc. has a 52 week low of $107.31 and a 52 week high of $165.69. The stock has a 50 day moving average price of $135.34 and a 200-day moving average price of $126.14.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.92). The firm had revenue of $509.00 million during the quarter, compared to analysts’ expectations of $487.53 million. Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. Equities analysts anticipate that Palo Alto Networks, Inc. will post $3.33 earnings per share for the current year.

In related news, Director James J. Goetz sold 30,000 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $137.97, for a total value of $4,139,100.00. Following the transaction, the director now directly owns 271,645 shares of the company’s stock, valued at approximately $37,478,860.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carl M. Eschenbach sold 1,572 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $144.99, for a total value of $227,924.28. Following the completion of the transaction, the director now directly owns 3,619 shares in the company, valued at $524,718.81. The disclosure for this sale can be found here. Insiders sold a total of 78,001 shares of company stock worth $11,014,834 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.

A number of equities analysts have recently issued reports on PANW shares. Piper Jaffray Companies set a $156.00 price target on Palo Alto Networks and gave the stock a “buy” rating in a research report on Thursday, June 1st. Gabelli upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research note on Thursday, June 1st. Monness Crespi & Hardt upped their price objective on Palo Alto Networks from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, June 1st. BTIG Research restated a “buy” rating and set a $155.00 price objective on shares of Palo Alto Networks in a research note on Thursday, June 1st. Finally, Stifel Nicolaus restated a “buy” rating and set a $180.00 price objective (up from $170.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. Palo Alto Networks has a consensus rating of “Buy” and an average price target of $157.91.

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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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