Banco de Sabadell S.A purchased a new position in shares of Palo Alto Networks Inc (NYSE:PANW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 500 shares of the network technology company’s stock, valued at approximately $103,000.
A number of other institutional investors have also made changes to their positions in PANW. CIBC Private Wealth Group LLC boosted its position in Palo Alto Networks by 2,475.0% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 515 shares of the network technology company’s stock valued at $106,000 after buying an additional 495 shares during the last quarter. LeJeune Puetz Investment Counsel LLC purchased a new position in Palo Alto Networks in the 2nd quarter valued at about $123,000. Trust Co. of Vermont boosted its position in Palo Alto Networks by 107.7% in the 1st quarter. Trust Co. of Vermont now owns 671 shares of the network technology company’s stock valued at $121,000 after buying an additional 348 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in Palo Alto Networks in the 2nd quarter valued at about $177,000. Finally, Motley Fool Asset Management LLC purchased a new position in Palo Alto Networks in the 2nd quarter valued at about $204,000. 81.57% of the stock is owned by hedge funds and other institutional investors.
In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $204.84, for a total value of $8,193,600.00. Following the sale, the director now owns 333,756 shares in the company, valued at $68,366,579.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen Bonanno sold 1,097 shares of the firm’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $208.77, for a total transaction of $229,020.69. Following the completion of the sale, the chief financial officer now owns 35,882 shares in the company, valued at approximately $7,491,085.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 192,447 shares of company stock worth $40,289,070. 4.80% of the stock is owned by company insiders.
A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Deutsche Bank upped their target price on shares of Palo Alto Networks to $265.00 and gave the company a “buy” rating in a research note on Friday, September 7th. JPMorgan Chase & Co. upped their target price on shares of Palo Alto Networks to $282.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Credit Suisse Group upped their target price on shares of Palo Alto Networks from $175.00 to $185.00 and gave the company an “underperform” rating in a research note on Friday, September 7th. Finally, Rosenblatt Securities upped their target price on shares of Palo Alto Networks to $280.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Palo Alto Networks presently has a consensus rating of “Buy” and a consensus target price of $237.78.
PANW opened at $234.62 on Monday. The stock has a market cap of $21.94 billion, a P/E ratio of -426.58, a price-to-earnings-growth ratio of 16.59 and a beta of 0.83. Palo Alto Networks Inc has a fifty-two week low of $135.85 and a fifty-two week high of $239.50.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, September 6th. The network technology company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The firm had revenue of $658.10 million for the quarter, compared to analyst estimates of $634.14 million. Palo Alto Networks had a negative net margin of 6.51% and a negative return on equity of 4.57%. Palo Alto Networks’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. analysts expect that Palo Alto Networks Inc will post 0.61 EPS for the current year.
Palo Alto Networks 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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