Zurich Insurance Group Ltd FI Grows Stake in Palo Alto Networks Inc (NYSE:PANW)

Zurich Insurance Group Ltd FI raised its stake in Palo Alto Networks Inc (NYSE:PANW) by 39.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,939 shares of the network technology company’s stock after acquiring an additional 9,654 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Palo Alto Networks were worth $6,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Morgan Stanley lifted its position in Palo Alto Networks by 10.1% during the 2nd quarter. Morgan Stanley now owns 1,568,639 shares of the network technology company’s stock valued at $319,627,000 after acquiring an additional 144,406 shares during the period. Alberta Investment Management Corp increased its stake in Palo Alto Networks by 420.0% during the 2nd quarter. Alberta Investment Management Corp now owns 26,000 shares of the network technology company’s stock valued at $5,298,000 after purchasing an additional 21,000 shares in the last quarter. Apriem Advisors increased its stake in Palo Alto Networks by 23.1% during the 2nd quarter. Apriem Advisors now owns 1,330 shares of the network technology company’s stock valued at $271,000 after purchasing an additional 250 shares in the last quarter. Connors Investor Services Inc. increased its stake in Palo Alto Networks by 11.7% during the 2nd quarter. Connors Investor Services Inc. now owns 70,445 shares of the network technology company’s stock valued at $14,354,000 after purchasing an additional 7,378 shares in the last quarter. Finally, Man Group plc increased its stake in Palo Alto Networks by 13.9% during the 2nd quarter. Man Group plc now owns 172,099 shares of the network technology company’s stock valued at $35,067,000 after purchasing an additional 21,034 shares in the last quarter. Hedge funds and other institutional investors own 79.37% of the company’s stock.

In related news, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $204.88, for a total value of $2,458,560.00. Following the sale, the executive vice president now owns 924,857 shares in the company, valued at $189,484,702.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $227.43, for a total transaction of $9,097,200.00. Following the completion of the sale, the director now owns 240,236 shares in the company, valued at approximately $54,636,873.48. The disclosure for this sale can be found here. Insiders sold 171,220 shares of company stock worth $36,666,236 in the last three months. Insiders own 3.10% of the company’s stock.

PANW has been the subject of a number of research analyst reports. Northland Securities reiterated a “hold” rating and issued a $240.00 price target on shares of Palo Alto Networks in a research note on Monday, September 16th. BMO Capital Markets reduced their price target on shares of Palo Alto Networks from $250.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Credit Suisse Group lifted their price target on shares of Palo Alto Networks from $185.00 to $195.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Deutsche Bank reduced their price target on shares of Palo Alto Networks from $305.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, JMP Securities reduced their price target on shares of Palo Alto Networks from $270.00 to $250.00 and set a “market outperform” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Palo Alto Networks presently has an average rating of “Buy” and a consensus target price of $261.23.

NYSE:PANW traded down $0.64 during trading hours on Friday, hitting $208.25. 748,418 shares of the stock traded hands, compared to its average volume of 1,669,059. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.90. Palo Alto Networks Inc has a 1 year low of $160.08 and a 1 year high of $260.63. The company has a market cap of $20.26 billion, a price-to-earnings ratio of 330.56, a price-to-earnings-growth ratio of 19.14 and a beta of 0.94. The stock has a 50 day moving average price of $209.48 and a 200 day moving average price of $221.82.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.08). Palo Alto Networks had a negative net margin of 2.82% and a positive return on equity of 4.82%. The firm had revenue of $805.80 million for the quarter, compared to analysts’ expectations of $803.56 million. During the same period in the prior year, the firm earned $1.28 EPS. Palo Alto Networks’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks Inc will post 0.47 earnings per share for the current fiscal year.

Palo Alto Networks Profile

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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