Commonwealth Equity Services LLC boosted its holdings in Palo Alto Networks Inc (NYSE:PANW) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,120 shares of the network technology company’s stock after acquiring an additional 1,459 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Palo Alto Networks were worth $7,315,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of PANW. Northern Trust Corp boosted its position in Palo Alto Networks by 3.5% in the fourth quarter. Northern Trust Corp now owns 1,135,398 shares of the network technology company’s stock valued at $213,853,000 after buying an additional 38,069 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in Palo Alto Networks by 11.1% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 1,131 shares of the network technology company’s stock valued at $213,000 after buying an additional 113 shares in the last quarter. Premier Asset Management LLC boosted its position in Palo Alto Networks by 1.4% in the fourth quarter. Premier Asset Management LLC now owns 68,585 shares of the network technology company’s stock valued at $12,918,000 after buying an additional 945 shares in the last quarter. Toronto Dominion Bank boosted its position in Palo Alto Networks by 36.6% in the first quarter. Toronto Dominion Bank now owns 17,085 shares of the network technology company’s stock valued at $4,149,000 after buying an additional 4,577 shares in the last quarter. Finally, C J Advisory Inc acquired a new position in Palo Alto Networks in the first quarter valued at about $30,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.
In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $197.17, for a total value of $7,886,800.00. Following the completion of the sale, the director now owns 245,221 shares of the company’s stock, valued at $48,350,224.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark D. Mclaughlin sold 6,200 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $250.04, for a total transaction of $1,550,248.00. Following the completion of the sale, the director now directly owns 215,206 shares of the company’s stock, valued at approximately $53,810,108.24. The disclosure for this sale can be found here. Insiders sold 227,130 shares of company stock valued at $52,380,948 in the last ninety days. Insiders own 3.10% of the company’s stock.
Shares of NYSE PANW opened at $200.79 on Wednesday. Palo Alto Networks Inc has a fifty-two week low of $160.08 and a fifty-two week high of $260.63. The company has a market capitalization of $19.22 billion, a P/E ratio of -365.07, a price-to-earnings-growth ratio of 9.60 and a beta of 0.98. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.97.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Wednesday, May 29th. The network technology company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.06). Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. The business had revenue of $726.60 million during the quarter, compared to analyst estimates of $704.89 million. During the same quarter in the prior year, the company earned $0.99 earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. Research analysts predict that Palo Alto Networks Inc will post 0.87 EPS for the current fiscal year.
PANW has been the topic of a number of recent analyst reports. Wedbush boosted their price target on shares of Palo Alto Networks from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. Northland Securities lowered shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $240.00 price target on the stock. in a research report on Tuesday, February 26th. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $278.00 price target on the stock in a research report on Tuesday, April 16th. Deutsche Bank reduced their target price on shares of Palo Alto Networks from $305.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Finally, Mizuho started coverage on shares of Palo Alto Networks in a research report on Tuesday, March 26th. They set a “buy” rating and a $285.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $263.03.
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About Palo Alto Networks
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.
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