Xact Kapitalforvaltning AB Acquires 878 Shares of Palo Alto Networks Inc (PANW)

Xact Kapitalforvaltning AB grew its holdings in shares of Palo Alto Networks Inc (NYSE:PANW) by 6.2% in the 1st quarter, Holdings Channel reports. The firm owned 15,027 shares of the network technology company’s stock after acquiring an additional 878 shares during the period. Xact Kapitalforvaltning AB’s holdings in Palo Alto Networks were worth $2,728,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FTB Advisors Inc. lifted its holdings in shares of Palo Alto Networks by 531.0% during the first quarter. FTB Advisors Inc. now owns 1,830 shares of the network technology company’s stock valued at $331,000 after purchasing an additional 1,540 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of Palo Alto Networks by 11.9% during the first quarter. Engineers Gate Manager LP now owns 40,984 shares of the network technology company’s stock valued at $7,439,000 after acquiring an additional 4,358 shares in the last quarter. IBM Retirement Fund bought a new stake in shares of Palo Alto Networks during the first quarter valued at approximately $480,000. Scout Investments Inc. increased its position in shares of Palo Alto Networks by 61.9% during the first quarter. Scout Investments Inc. now owns 104,991 shares of the network technology company’s stock valued at $19,058,000 after acquiring an additional 40,133 shares in the last quarter. Finally, Geneva Partners LLC bought a new stake in shares of Palo Alto Networks during the first quarter valued at approximately $3,415,000. Hedge funds and other institutional investors own 80.51% of the company’s stock.

Several brokerages recently weighed in on PANW. BMO Capital Markets raised their price target on shares of Palo Alto Networks from $220.00 to $222.00 and gave the company a “market perform” rating in a research report on Friday, June 8th. TheStreet raised shares of Palo Alto Networks from a “d” rating to a “c-” rating in a research report on Monday, June 4th. Argus raised their price target on shares of Palo Alto Networks to $229.00 and gave the company a “buy” rating in a research report on Tuesday, June 5th. Morgan Stanley raised their price target on shares of Palo Alto Networks from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, June 5th. Finally, Credit Suisse Group raised their price target on shares of Palo Alto Networks from $150.00 to $175.00 and gave the company an “underweight” rating in a research report on Tuesday, June 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirty-seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $198.68.

In related news, Director Stanley J. Meresman sold 1,979 shares of Palo Alto Networks stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $212.17, for a total transaction of $419,884.43. Following the transaction, the director now directly owns 315,667 shares of the company’s stock, valued at $66,975,067.39. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark D. Mclaughlin sold 40,000 shares of Palo Alto Networks stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $179.34, for a total value of $7,173,600.00. Following the transaction, the chief executive officer now directly owns 296,450 shares in the company, valued at $53,165,343. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 73,910 shares of company stock worth $15,307,149 and have sold 230,194 shares worth $44,404,417. 4.80% of the stock is owned by insiders.

Shares of PANW stock opened at $207.59 on Monday. Palo Alto Networks Inc has a 1 year low of $126.56 and a 1 year high of $217.40. The firm has a market cap of $19.28 billion, a PE ratio of -121.40 and a beta of 0.99.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Monday, June 4th. The network technology company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. Palo Alto Networks had a negative net margin of 8.65% and a negative return on equity of 8.51%. The business had revenue of $567.10 million for the quarter, compared to analysts’ expectations of $545.79 million. sell-side analysts forecast that Palo Alto Networks Inc will post -0.26 earnings per share for the current year.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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