Belpointe Asset Management LLC grew its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 6.7% in the 4th quarter, HoldingsChannel reports. The fund owned 2,849 shares of the network technology company’s stock after purchasing an additional 179 shares during the quarter. Belpointe Asset Management LLC’s holdings in Palo Alto Networks were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of PANW. Farallon Capital Management LLC lifted its position in Palo Alto Networks by 81.7% during the fourth quarter. Farallon Capital Management LLC now owns 1,108,416 shares of the network technology company’s stock worth $256,321,000 after acquiring an additional 498,416 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $107,049,000. Pictet Asset Management Ltd. raised its position in shares of Palo Alto Networks by 26.5% in the fourth quarter. Pictet Asset Management Ltd. now owns 1,072,438 shares of the network technology company’s stock valued at $248,002,000 after buying an additional 224,630 shares in the last quarter. Menora Mivtachim Holdings LTD. acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $27,634,000. Finally, Point72 Asset Management L.P. raised its position in shares of Palo Alto Networks by 480.0% in the third quarter. Point72 Asset Management L.P. now owns 131,409 shares of the network technology company’s stock valued at $26,785,000 after buying an additional 108,753 shares in the last quarter. Hedge funds and other institutional investors own 78.86% of the company’s stock.
PANW has been the subject of a number of analyst reports. Robert W. Baird reiterated a “buy” rating on shares of Palo Alto Networks in a research report on Tuesday, February 25th. Credit Suisse Group dropped their price target on shares of Palo Alto Networks from $195.00 to $190.00 and set an “underperform” rating for the company in a research report on Tuesday, February 25th. Wells Fargo & Co dropped their price target on shares of Palo Alto Networks from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Mizuho dropped their price target on shares of Palo Alto Networks from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Finally, Northland Securities dropped their price target on shares of Palo Alto Networks from $265.00 to $245.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty have issued a buy rating to the stock. Palo Alto Networks currently has a consensus rating of “Buy” and an average price target of $238.50.
In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 19,050 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $249.03, for a total transaction of $4,744,021.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Donovan bought 8,102 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were bought at an average cost of $185.35 per share, for a total transaction of $1,501,705.70. Following the purchase, the director now owns 11,222 shares of the company’s stock, valued at approximately $2,079,997.70. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 34,562 shares of company stock worth $8,415,340. Insiders own 2.30% of the company’s stock.
Shares of NYSE:PANW opened at $166.01 on Thursday. The company’s 50 day simple moving average is $198.28 and its 200 day simple moving average is $219.71. The stock has a market capitalization of $15.90 billion, a price-to-earnings ratio of -92.23 and a beta of 1.09. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.78 and a quick ratio of 1.78. Palo Alto Networks Inc has a 1 year low of $125.47 and a 1 year high of $251.10.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, February 24th. The network technology company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $816.70 million for the quarter, compared to analysts’ expectations of $842.13 million. Palo Alto Networks had a negative net margin of 5.58% and a negative return on equity of 2.19%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.51 earnings per share. As a group, analysts anticipate that Palo Alto Networks Inc will post -0.69 EPS for the current fiscal year.
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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