Symphony Financial Ltd. Co. increased its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 61.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,229 shares of the network technology company’s stock after purchasing an additional 467 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Palo Alto Networks were worth $415,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Clearbridge Investments LLC lifted its holdings in Palo Alto Networks by 8.1% in the fourth quarter. Clearbridge Investments LLC now owns 2,784,934 shares of the network technology company’s stock worth $989,738,000 after purchasing an additional 208,986 shares during the period. Viking Global Investors LP acquired a new stake in Palo Alto Networks in the fourth quarter worth about $670,667,000. Norges Bank acquired a new stake in Palo Alto Networks in the fourth quarter worth about $358,841,000. Duquesne Family Office LLC lifted its holdings in Palo Alto Networks by 457.8% in the 4th quarter. Duquesne Family Office LLC now owns 459,060 shares of the network technology company’s stock valued at $163,145,000 after acquiring an additional 376,760 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Palo Alto Networks by 30.2% in the 4th quarter. Nuveen Asset Management LLC now owns 393,166 shares of the network technology company’s stock valued at $139,728,000 after acquiring an additional 91,285 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.
Palo Alto Networks stock opened at $366.65 on Monday. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a fifty day moving average price of $337.58 and a two-hundred day moving average price of $320.24. Palo Alto Networks, Inc. has a 52-week low of $184.33 and a 52-week high of $403.00. The firm has a market capitalization of $35.65 billion, a P/E ratio of -118.27 and a beta of 1.50.
Palo Alto Networks (NYSE:PANW) last announced its earnings results on Sunday, February 21st. The network technology company reported $1.55 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to analyst estimates of $985.90 million. During the same period last year, the company posted $1.19 earnings per share. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. On average, equities research analysts predict that Palo Alto Networks, Inc. will post -1.69 EPS for the current fiscal year.
A number of brokerages have weighed in on PANW. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palo Alto Networks from $423.00 to $426.00 and gave the company a “buy” rating in a report on Monday, March 1st. Argus upped their price objective on shares of Palo Alto Networks from $410.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, March 2nd. Mizuho upped their price objective on shares of Palo Alto Networks from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, March 2nd. Truist upped their price objective on shares of Palo Alto Networks from $385.00 to $425.00 in a research note on Tuesday, February 23rd. Finally, KeyCorp upped their target price on Palo Alto Networks from $391.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, January 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $377.06.
In other news, Director Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction on Monday, February 1st. The stock was sold at an average price of $361.78, for a total value of $14,471,200.00. Following the completion of the sale, the director now directly owns 59,175 shares in the company, valued at $21,408,331.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Monday, February 1st. The shares were sold at an average price of $361.90, for a total value of $4,342,800.00. Following the completion of the sale, the executive vice president now owns 882,856 shares of the company’s stock, valued at $319,505,586.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,917 shares of company stock valued at $32,027,531. 2.30% of the stock is currently owned by corporate insiders.
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.
See Also: Retained Earnings
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