Dean Capital Investments Management LLC raised its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 23.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,741 shares of the network technology company’s stock after acquiring an additional 700 shares during the period. Palo Alto Networks makes up 0.4% of Dean Capital Investments Management LLC’s portfolio, making the stock its 23rd biggest holding. Dean Capital Investments Management LLC’s holdings in Palo Alto Networks were worth $763,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Oakbrook Investments LLC raised its position in Palo Alto Networks by 2.0% in 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. Captrust Financial Advisors raised its position in Palo Alto Networks by 15.9% in the second quarter. Captrust Financial Advisors now owns 402 shares of the network technology company’s stock worth $82,000 after purchasing an additional 55 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its position in Palo Alto Networks by 4.5% in the second quarter. Global Wealth Management Investment Advisory Inc. now owns 1,283 shares of the network technology company’s stock worth $261,000 after purchasing an additional 55 shares in the last quarter. CWM LLC raised its position in Palo Alto Networks by 11.0% in the second quarter. CWM LLC now owns 603 shares of the network technology company’s stock worth $123,000 after purchasing an additional 60 shares in the last quarter. Finally, Juncture Wealth Strategies LLC raised its position in Palo Alto Networks by 2.9% in the third quarter. Juncture Wealth Strategies LLC now owns 2,207 shares of the network technology company’s stock worth $450,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.
In related news, Director Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $207.78, for a total transaction of $8,311,200.00. Following the sale, the director now directly owns 240,236 shares in the company, valued at $49,916,236.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $210.66, for a total transaction of $2,527,920.00. Following the sale, the executive vice president now owns 924,695 shares in the company, valued at $194,796,248.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,610 shares of company stock worth $16,437,971. Insiders own 2.30% of the company’s stock.
Shares of NYSE PANW traded up $2.48 during midday trading on Tuesday, reaching $238.49. 161,255 shares of the stock were exchanged, compared to its average volume of 932,852. The business has a 50-day simple moving average of $217.03 and a two-hundred day simple moving average of $215.75. The company has a market capitalization of $23.11 billion, a price-to-earnings ratio of 378.56 and a beta of 0.99. Palo Alto Networks Inc has a 12 month low of $160.08 and a 12 month high of $260.63. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.78 and a quick ratio of 1.78.
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 for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). The firm had revenue of $805.80 million for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 earnings per share. Equities research analysts expect that Palo Alto Networks Inc will post -0.05 earnings per share for the current fiscal year.
PANW has been the subject of several recent analyst reports. BMO Capital Markets dropped their price objective on shares of Palo Alto Networks from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Robert W. Baird set a $275.00 price objective on shares of Palo Alto Networks and gave the stock a “buy” rating in a report on Sunday, September 15th. SunTrust Banks began coverage on shares of Palo Alto Networks in a report on Wednesday, October 2nd. They set a “buy” rating and a $246.00 price objective for the company. Bank of America decreased their price target on shares of Palo Alto Networks from $307.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Northland Securities reissued a “hold” rating and set a $240.00 price target on shares of Palo Alto Networks in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $262.06.
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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