GSA Capital Partners LLP reduced its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 51.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,150 shares of the network technology company’s stock after selling 2,307 shares during the period. GSA Capital Partners LLP’s holdings in Palo Alto Networks were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of PANW. Global X Management Co. LLC boosted its stake in shares of Palo Alto Networks by 31.9% in the 1st quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after purchasing an additional 227 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $191,000. OLD National Bancorp IN acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at approximately $201,000. Summit Securities Group LLC acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at approximately $202,000. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at approximately $214,000. Institutional investors own 76.71% of the company’s stock.
Several research firms recently commented on PANW. BidaskClub upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Northland Securities set a $175.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Wednesday, October 18th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $168.00 target price (up from $155.00) on shares of Palo Alto Networks in a research report on Sunday, September 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $160.00 target price on shares of Palo Alto Networks in a research report on Friday, September 1st. Finally, Credit Suisse Group began coverage on shares of Palo Alto Networks in a research report on Tuesday, September 5th. They set an “underperform” rating and a $125.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty-one have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $160.33.
Palo Alto Networks, Inc. (NYSE:PANW) opened at 146.66 on Friday. The stock’s market capitalization is $13.47 billion. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $165.69. The firm’s 50-day moving average is $145.15 and its 200-day moving average is $132.06.
Palo Alto Networks (NYSE:PANW) last issued its quarterly 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). Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The company had revenue of $509.00 million for the quarter, compared to the consensus estimate of $487.53 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. Palo Alto Networks’s revenue was up 27.0% compared to the same quarter last year. Analysts predict that Palo Alto Networks, Inc. will post $3.33 EPS for the current fiscal year.
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In other news, Director Carl M. Eschenbach sold 1,572 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $144.99, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nir Zuk sold 2,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $145.01, for a total value of $290,020.00. The disclosure for this sale can be found here. Insiders have sold 254,744 shares of company stock valued at $37,804,516 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.
About Palo Alto Networks
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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