Vista Private Wealth Partners. LLC bought a new position in shares of Palo Alto Networks Inc (NYSE:PANW) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 410 shares of the network technology company’s stock, valued at approximately $85,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new stake in Palo Alto Networks in the second quarter valued at $30,000. CSat Investment Advisory L.P. bought a new stake in Palo Alto Networks in the second quarter valued at $33,000. Commonwealth Bank of Australia lifted its stake in Palo Alto Networks by 35.3% in the second quarter. Commonwealth Bank of Australia now owns 253 shares of the network technology company’s stock valued at $49,000 after buying an additional 66 shares during the last quarter. Cypress Capital Management LLC WY bought a new stake in Palo Alto Networks in the second quarter valued at $51,000. Finally, Kings Point Capital Management lifted its stake in Palo Alto Networks by 64.9% in the second quarter. Kings Point Capital Management now owns 254 shares of the network technology company’s stock valued at $52,000 after buying an additional 100 shares during the last quarter. 78.50% of the stock is owned by hedge funds and other institutional investors.
NYSE:PANW traded up $2.23 during mid-day trading on Thursday, reaching $215.17. 13,570 shares of the stock were exchanged, compared to its average volume of 1,114,763. The business has a fifty day moving average price of $208.00 and a 200 day moving average price of $217.66. The firm has a market capitalization of $20.83 billion, a PE ratio of 341.60 and a beta of 0.99. Palo Alto Networks Inc has a 1-year low of $160.08 and a 1-year high of $260.63. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.90.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share (EPS) 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 analyst estimates of $803.56 million. Palo Alto Networks had a positive return on equity of 4.82% and a negative net margin of 2.82%. Palo Alto Networks’s revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. On average, sell-side analysts forecast that Palo Alto Networks Inc will post -0.05 earnings per share for the current year.
In related news, EVP Nir Zuk sold 12,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $205.66, for a total value of $2,467,920.00. Following the completion of the transaction, the executive vice president now owns 907,131 shares in the company, valued at approximately $186,560,561.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $227.43, for a total value of $9,097,200.00. Following the completion of the transaction, the director now owns 240,236 shares of the company’s stock, valued at approximately $54,636,873.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,609 shares of company stock worth $25,486,256. 3.10% of the stock is owned by corporate insiders.
PANW has been the topic of a number of research analyst reports. BMO Capital Markets lowered their price target on Palo Alto Networks from $250.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. ValuEngine raised Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target on Palo Alto Networks from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Credit Suisse Group raised their price target on Palo Alto Networks from $185.00 to $195.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Finally, Maxim Group raised their price target on Palo Alto Networks from $304.00 to $316.00 and gave the company a “buy” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $260.74.
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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