Bard Financial Services Inc. Purchases New Shares in Palo Alto Networks, Inc. (NYSE:PANW)

Bard Financial Services Inc. purchased a new stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,050 shares of the network technology company’s stock, valued at approximately $1,084,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC purchased a new stake in Palo Alto Networks during the 4th quarter valued at $296,000. Mach 1 Financial Group Inc. purchased a new stake in Palo Alto Networks during the 4th quarter valued at $419,000. Curi Capital purchased a new stake in Palo Alto Networks during the 4th quarter valued at $40,000. Valley Brook Capital Group purchased a new stake in Palo Alto Networks during the 4th quarter valued at $47,000. Finally, DekaBank Deutsche Girozentrale increased its stake in Palo Alto Networks by 16.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 50,522 shares of the network technology company’s stock worth $17,945,000 after purchasing an additional 7,026 shares during the period. Institutional investors own 80.76% of the company’s stock.

PANW has been the topic of a number of recent analyst reports. Barclays increased their target price on Palo Alto Networks from $420.00 to $565.00 and gave the stock an “overweight” rating in a research note on Monday, March 1st. Wedbush increased their target price on Palo Alto Networks from $400.00 to $450.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Royal Bank of Canada increased their target price on Palo Alto Networks from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 23rd. Mizuho increased their target price on Palo Alto Networks from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Palo Alto Networks from $423.00 to $426.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $377.06.

In other news, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction that occurred on Monday, February 1st. The stock was sold at an average price of $361.78, for a total transaction of $14,471,200.00. Following the completion of the transaction, the director now directly owns 59,175 shares of the company’s stock, valued at approximately $21,408,331.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Amit K. Singh sold 1,378 shares of the stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $379.69, for a total value of $523,212.82. Following the transaction, the president now directly owns 127,310 shares of the company’s stock, valued at $48,338,333.90. The disclosure for this sale can be found here. Insiders have sold a total of 89,917 shares of company stock valued at $32,113,001 over the last ninety days. 2.30% of the stock is owned by insiders.

PANW stock opened at $338.57 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 4.18. The company has a market capitalization of $32.92 billion, a PE ratio of -109.22 and a beta of 1.50. Palo Alto Networks, Inc. has a 12-month low of $172.36 and a 12-month high of $403.00. The business’s fifty day moving average price is $344.07 and its 200 day moving average price is $315.26.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Sunday, February 21st. The network technology company reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.12. Palo Alto Networks had a negative return on equity of 8.66% and a negative net margin of 8.36%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $985.90 million. During the same quarter in the prior year, the business earned $1.19 EPS. Palo Alto Networks’s revenue was up 24.5% on a year-over-year basis. Research analysts predict that Palo Alto Networks, Inc. will post -1.69 EPS for the current fiscal year.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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