Chicago Equity Partners LLC reduced its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 19.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,945 shares of the network technology company’s stock after selling 2,185 shares during the quarter. Chicago Equity Partners LLC’s holdings in Palo Alto Networks were worth $1,823,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in PANW. Berman Capital Advisors LLC grew its holdings in Palo Alto Networks by 32.1% during the first quarter. Berman Capital Advisors LLC now owns 177 shares of the network technology company’s stock worth $42,000 after acquiring an additional 43 shares during the period. CWM LLC boosted its position in Palo Alto Networks by 9.3% during the first quarter. CWM LLC now owns 543 shares of the network technology company’s stock worth $132,000 after purchasing an additional 46 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its position in Palo Alto Networks by 0.7% during the first quarter. Piedmont Investment Advisors Inc. now owns 6,661 shares of the network technology company’s stock worth $1,618,000 after purchasing an additional 46 shares in the last quarter. Oakbrook Investments LLC boosted its position in Palo Alto Networks by 2.0% during the second quarter. Oakbrook Investments LLC now owns 2,525 shares of the network technology company’s stock worth $514,000 after purchasing an additional 50 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in Palo Alto Networks by 1.1% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,745 shares of the network technology company’s stock worth $1,395,000 after purchasing an additional 60 shares in the last quarter. 79.57% of the stock is currently owned by institutional investors.
NYSE:PANW opened at $208.35 on Friday. The firm has a market cap of $20.06 billion, a PE ratio of 330.71, a price-to-earnings-growth ratio of 18.95 and a beta of 0.94. The company has a current ratio of 1.78, a quick ratio of 1.86 and a debt-to-equity ratio of 0.90. The stock has a fifty day moving average price of $211.77 and a 200 day moving average price of $222.93. Palo Alto Networks Inc has a 12-month low of $160.08 and a 12-month high of $260.63.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.08). The business had revenue of $805.80 million for the quarter, compared to analysts’ expectations of $803.56 million. Palo Alto Networks had a positive return on equity of 4.82% and a negative net margin of 2.82%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. Equities analysts forecast that Palo Alto Networks Inc will post 0.47 EPS for the current year.
In related news, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $210.66, for a total value of $2,527,920.00. Following the transaction, the executive vice president now owns 924,695 shares in the company, valued at approximately $194,796,248.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen Bonanno sold 1,609 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $224.00, for a total value of $360,416.00. Following the completion of the transaction, the chief financial officer now owns 28,572 shares in the company, valued at approximately $6,400,128. The disclosure for this sale can be found here. Insiders sold a total of 131,220 shares of company stock valued at $28,355,036 over the last three months. Company insiders own 3.10% of the company’s stock.
A number of brokerages have issued reports on PANW. Barclays decreased their target price on Palo Alto Networks from $303.00 to $242.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Northland Securities set a $240.00 price objective on Palo Alto Networks and gave the stock a “hold” rating in a research report on Friday, September 6th. Deutsche Bank reduced their price objective on 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. ValuEngine upgraded Palo Alto Networks from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Monness Crespi & Hardt reissued a “buy” rating and set a $265.00 target price (down previously from $280.00) on shares of Palo Alto Networks in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Palo Alto Networks has a consensus rating of “Buy” and an average price target of $261.23.
Palo Alto Networks 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.
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