Stephens Investment Management Group LLC raised its position in Palo Alto Networks Inc (NYSE:PANW) by 0.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 107,132 shares of the network technology company’s stock after acquiring an additional 852 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Palo Alto Networks were worth $26,020,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Alpha Omega Wealth Management LLC acquired a new stake in Palo Alto Networks in the 1st quarter worth about $26,000. Financial Advocates Investment Management boosted its holdings in Palo Alto Networks by 65.2% in the 4th quarter. Financial Advocates Investment Management now owns 114 shares of the network technology company’s stock worth $43,000 after buying an additional 45 shares during the last quarter. C J Advisory Inc acquired a new stake in Palo Alto Networks in the 1st quarter worth about $30,000. Arrow Financial Corp acquired a new stake in Palo Alto Networks in the 1st quarter worth about $40,000. Finally, Bruderman Asset Management LLC acquired a new stake in Palo Alto Networks in the 4th quarter worth about $38,000. Institutional investors own 80.16% of the company’s stock.
Several equities research analysts recently issued reports on PANW shares. Zacks Investment Research upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $236.00 price objective on the stock in a report on Friday, January 25th. UBS Group raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Tuesday, January 22nd. Robert W. Baird reissued a “buy” rating on shares of Palo Alto Networks in a research note on Wednesday, February 27th. Jefferies Financial Group reissued a “buy” rating and issued a $296.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 27th. Finally, Deutsche Bank raised their target price on shares of Palo Alto Networks from $265.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $268.75.
PANW stock opened at $234.95 on Friday. The company has a market cap of $22.29 billion, a PE ratio of -427.18, a PEG ratio of 10.63 and a beta of 0.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.87 and a current ratio of 1.87. Palo Alto Networks Inc has a one year low of $160.08 and a one year high of $260.63.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Tuesday, February 26th. The network technology company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.20. The firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $682.32 million. Palo Alto Networks had a negative net margin of 3.47% and a positive return on equity of 4.69%. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 EPS. Analysts forecast that Palo Alto Networks Inc will post 0.96 earnings per share for the current year.
In other Palo Alto Networks news, EVP Nir Zuk sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $234.44, for a total value of $7,033,200.00. Following the sale, the executive vice president now owns 990,860 shares of the company’s stock, valued at $232,297,218.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $224.60, for a total value of $1,684,500.00. Following the completion of the sale, the executive vice president now directly owns 314,920 shares in the company, valued at approximately $70,731,032. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 250,344 shares of company stock worth $60,271,045. Corporate insiders own 3.10% of the company’s stock.
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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