Commerce Bank lifted its stake in Palo Alto Networks Inc (NYSE:PANW) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,627 shares of the network technology company’s stock after purchasing an additional 1,654 shares during the quarter. Commerce Bank’s holdings in Palo Alto Networks were worth $5,678,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of PANW. Nisa Investment Advisors LLC boosted its position in shares of Palo Alto Networks by 50.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,968 shares of the network technology company’s stock worth $1,843,000 after purchasing an additional 2,668 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Palo Alto Networks by 5.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,079 shares of the network technology company’s stock valued at $1,868,000 after acquiring an additional 437 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in Palo Alto Networks by 6.1% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,286 shares of the network technology company’s stock valued at $297,000 after acquiring an additional 74 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in Palo Alto Networks by 27.2% in the 4th quarter. Valeo Financial Advisors LLC now owns 702 shares of the network technology company’s stock valued at $162,000 after acquiring an additional 150 shares in the last quarter. Finally, CWM Advisors LLC lifted its position in Palo Alto Networks by 6.5% in the 4th quarter. CWM Advisors LLC now owns 2,058 shares of the network technology company’s stock valued at $476,000 after acquiring an additional 125 shares in the last quarter. 77.99% of the stock is currently owned by hedge funds and other institutional investors.
PANW opened at $237.93 on Friday. The firm has a 50-day simple moving average of $195.88 and a two-hundred day simple moving average of $214.24. Palo Alto Networks Inc has a 52 week low of $125.47 and a 52 week high of $251.10. The company has a market capitalization of $22.88 billion, a PE ratio of -100.82 and a beta of 1.14. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.13.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, beating the consensus estimate of ($0.37) by $1.54. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 5.65%. The business had revenue of $869.40 million during the quarter, compared to the consensus estimate of $831.52 million. During the same quarter in the prior year, the firm earned $1.31 EPS. The business’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts expect that Palo Alto Networks Inc will post -0.77 earnings per share for the current year.
In other Palo Alto Networks news, Director John Donovan purchased 8,127 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $184.62 per share, with a total value of $1,500,406.74. Following the acquisition, the director now owns 11,222 shares in the company, valued at $2,071,805.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 12,000 shares of the stock in a transaction dated 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 directly owns 986,875 shares of the company’s stock, valued at approximately $191,651,125. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
Several equities analysts recently issued reports on the company. BTIG Research assumed coverage on Palo Alto Networks in a research report on Friday, March 27th. They issued a “neutral” rating on the stock. Piper Sandler boosted their target price on shares of Palo Alto Networks from $200.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America reiterated a “neutral” rating and set a $255.00 target price (up from $200.00) on shares of Palo Alto Networks in a research note on Friday. OTR Global lowered shares of Palo Alto Networks to a “positive” rating in a research note on Friday, May 8th. Finally, ValuEngine upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Twelve investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $254.48.
Palo Alto Networks Company 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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