Green Square Capital LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 30.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,027 shares of the network technology company’s stock after purchasing an additional 939 shares during the period. Green Square Capital LLC’s holdings in Palo Alto Networks were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. American Century Companies Inc. increased its holdings in Palo Alto Networks by 512.7% in the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock valued at $233,811,000 after buying an additional 1,462,162 shares in the last quarter. Northern Trust Corp increased its holdings in Palo Alto Networks by 109.9% in the second quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock valued at $152,883,000 after buying an additional 598,115 shares in the last quarter. ETF Managers Group LLC purchased a new position in Palo Alto Networks in the second quarter valued at $48,287,000. Sirios Capital Management L P purchased a new position in Palo Alto Networks in the second quarter valued at $40,567,000. Finally, Ameriprise Financial Inc. increased its holdings in Palo Alto Networks by 35.5% in the third quarter. Ameriprise Financial Inc. now owns 1,068,289 shares of the network technology company’s stock valued at $153,798,000 after buying an additional 279,602 shares in the last quarter. 79.98% of the stock is owned by institutional investors.
Shares of Palo Alto Networks, Inc. (PANW) traded down $0.67 during midday trading on Wednesday, reaching $143.49. 1,158,100 shares of the company traded hands, compared to its average volume of 1,761,420. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $157.65.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.06. The company had revenue of $505.50 million for the quarter, compared to analyst estimates of $489.36 million. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. Palo Alto Networks’s revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. equities analysts expect that Palo Alto Networks, Inc. will post -0.37 earnings per share for the current year.
In other news, CMO Rene Bonvanie sold 16,596 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $151.83, for a total value of $2,519,770.68. Following the transaction, the chief marketing officer now directly owns 95,584 shares in the company, valued at approximately $14,512,518.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark D. Mclaughlin sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $149.70, for a total transaction of $5,239,500.00. The disclosure for this sale can be found here. Insiders sold a total of 343,213 shares of company stock worth $50,953,421 over the last quarter. 4.80% of the stock is currently owned by company insiders.
A number of research analysts have weighed in on PANW shares. BidaskClub raised shares of Palo Alto Networks from a “strong sell” rating to a “sell” rating in a report on Thursday, August 17th. Imperial Capital reaffirmed an “outperform” rating and issued a $137.00 price objective on shares of Palo Alto Networks in a report on Friday, August 18th. Piper Jaffray Companies set a $146.00 price objective on shares of Palo Alto Networks and gave the company a “buy” rating in a report on Friday, August 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $173.00 price objective on shares of Palo Alto Networks in a report on Monday, August 28th. Finally, UBS set a $140.00 price objective on shares of Palo Alto Networks and gave the company a “hold” rating in a report on Tuesday, August 29th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-three have issued a buy rating to the stock. Palo Alto Networks currently has an average rating of “Buy” and an average target price of $162.84.
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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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