California State Teachers Retirement System Buys 338,048 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

California State Teachers Retirement System lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 202.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 504,951 shares of the network technology company’s stock after acquiring an additional 338,048 shares during the quarter. California State Teachers Retirement System owned 0.17% of Palo Alto Networks worth $82,706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PANW. Covestor Ltd increased its position in Palo Alto Networks by 61.8% during the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after acquiring an additional 21 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Palo Alto Networks by 0.8% in the first quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock worth $1,843,000 after purchasing an additional 23 shares during the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of Palo Alto Networks by 6.5% in the second quarter. Carolinas Wealth Consulting LLC now owns 408 shares of the network technology company’s stock worth $202,000 after purchasing an additional 25 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Palo Alto Networks by 6.5% in the first quarter. Brighton Jones LLC now owns 425 shares of the network technology company’s stock worth $265,000 after purchasing an additional 26 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of Palo Alto Networks by 6.4% in the first quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company’s stock worth $281,000 after purchasing an additional 27 shares during the last quarter. 81.82% of the stock is currently owned by institutional investors.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 275 shares of Palo Alto Networks stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $186.60, for a total value of $51,315.00. Following the sale, the chief accounting officer now owns 30,944 shares of the company’s stock, valued at approximately $5,774,150.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction on Monday, March 13th. The stock was sold at an average price of $185.82, for a total transaction of $8,361,900.00. Following the transaction, the executive vice president now owns 612,745 shares in the company, valued at approximately $113,860,275.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 275 shares of Palo Alto Networks stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $186.60, for a total value of $51,315.00. Following the transaction, the chief accounting officer now owns 30,944 shares in the company, valued at approximately $5,774,150.40. The disclosure for this sale can be found here. Insiders have sold 157,089 shares of company stock valued at $27,379,562 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Down 0.4 %

Shares of NASDAQ:PANW opened at $183.80 on Thursday. Palo Alto Networks, Inc. has a twelve month low of $132.22 and a twelve month high of $213.63. The company’s 50 day moving average is $164.62 and its 200 day moving average is $162.20. The company has a market cap of $55.62 billion, a PE ratio of 2,506.48, a price-to-earnings-growth ratio of 5.10 and a beta of 1.16.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Palo Alto Networks from $195.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, February 22nd. Roth Mkm upped their price target on shares of Palo Alto Networks from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palo Alto Networks from $165.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Mizuho upped their price objective on shares of Palo Alto Networks from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Finally, Jefferies Financial Group upped their price objective on shares of Palo Alto Networks from $195.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Five analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.77.

About Palo Alto Networks

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.