Emerald Advisers Inc. PA cut its stake in Palo Alto Networks Inc (NYSE:PANW) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,548 shares of the network technology company’s stock after selling 364 shares during the quarter. Emerald Advisers Inc. PA’s holdings in Palo Alto Networks were worth $2,827,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Banco de Sabadell S.A purchased a new position in shares of Palo Alto Networks in the 2nd quarter valued at $103,000. CIBC Private Wealth Group LLC increased its holdings in shares of 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 acquiring an additional 495 shares during the period. First Manhattan Co. purchased a new position in shares of Palo Alto Networks in the 3rd quarter valued at $106,000. Price Capital Management Inc. purchased a new position in shares of Palo Alto Networks in the 3rd quarter valued at $113,000. Finally, LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Palo Alto Networks in the 2nd quarter valued at $123,000. Institutional investors and hedge funds own 80.23% of the company’s stock.
PANW has been the topic of a number of analyst reports. ValuEngine upgraded Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, August 3rd. Zacks Investment Research downgraded Palo Alto Networks from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Raymond James lifted their price target on Palo Alto Networks from $240.00 to $254.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. Evercore ISI reiterated a “buy” rating and issued a $270.00 price target on shares of Palo Alto Networks in a report on Friday, September 7th. Finally, Jefferies Financial Group lifted their price target on Palo Alto Networks to $267.00 and gave the company a “buy” rating in a report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $240.94.
Shares of PANW opened at $188.76 on Friday. Palo Alto Networks Inc has a one year low of $135.85 and a one year high of $239.50. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.42. The stock has a market cap of $16.76 billion, a price-to-earnings ratio of -343.20, a PEG ratio of 12.48 and a beta of 0.88.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, September 6th. The network technology company reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.11. Palo Alto Networks had a negative return on equity of 4.12% and a negative net margin of 6.51%. The company had revenue of $658.10 million during the quarter, compared to analysts’ expectations of $634.14 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The firm’s revenue was up 29.3% compared to the same quarter last year. As a group, equities research analysts expect that Palo Alto Networks Inc will post 0.61 earnings per share for the current year.
In other news, CFO Kathleen Bonanno sold 467 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $213.03, for a total value of $99,485.01. Following the completion of the transaction, the chief financial officer now owns 34,954 shares of the company’s stock, valued at approximately $7,446,250.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $235.24, for a total value of $9,409,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,178 shares of company stock valued at $50,090,741. 3.10% of the stock is currently owned by insiders.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
Further Reading: Terms to Better Understand Call Options
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.