CWM Advisors LLC increased its holdings in shares of Palo Alto Networks Inc (NYSE:PANW) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,264 shares of the network technology company’s stock after buying an additional 206 shares during the period. CWM Advisors LLC’s holdings in Palo Alto Networks were worth $371,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Howard Wealth Management LLC acquired a new position in Palo Alto Networks during the fourth quarter valued at approximately $25,000. Clean Yield Group acquired a new position in Palo Alto Networks during the first quarter valued at approximately $30,000. Keebeck Wealth Management LLC acquired a new position in Palo Alto Networks during the fourth quarter valued at approximately $37,000. Farmers & Merchants Investments Inc. grew its holdings in Palo Alto Networks by 2,150.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 225 shares of the network technology company’s stock valued at $37,000 after purchasing an additional 215 shares during the period. Finally, Advisory Alpha LLC grew its holdings in Palo Alto Networks by 1,153.8% during the fourth quarter. Advisory Alpha LLC now owns 163 shares of the network technology company’s stock valued at $39,000 after purchasing an additional 150 shares during the period. 77.99% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on PANW shares. Dougherty & Co upgraded shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Tuesday. BTIG Research started coverage on shares of Palo Alto Networks in a report on Friday, March 27th. They issued a “neutral” rating for the company. Raymond James cut shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 25th. Deutsche Bank reduced their price target on shares of Palo Alto Networks from $210.00 to $180.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. Finally, ValuEngine upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Twelve equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $252.85.
PANW stock opened at $229.50 on Friday. The company has a market capitalization of $23.38 billion, a PE ratio of -135.67 and a beta of 1.14. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.78 and a current ratio of 1.78. Palo Alto Networks Inc has a 52 week low of $125.47 and a 52 week high of $251.10. The company’s 50-day simple moving average is $194.57 and its 200 day simple moving average is $214.23.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Thursday, May 21st. The network technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $1.54. Palo Alto Networks had a negative net margin of 5.58% and a negative return on equity of 2.19%. The business had revenue of $869.40 million during the quarter, compared to analyst estimates of $831.52 million. During the same quarter last year, the business earned $1.31 EPS. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts forecast that Palo Alto Networks Inc will post -0.77 EPS for the current year.
In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $194.20, for a total transaction of $2,330,400.00. Following the completion of the transaction, the executive vice president now owns 986,875 shares in the company, valued at approximately $191,651,125. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Donovan acquired 8,127 shares of the stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $184.62 per share, with a total value of $1,500,406.74. Following the purchase, the director now directly owns 11,222 shares in the company, valued at $2,071,805.64. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by company insiders.
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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