Glenmede Trust Co. NA held its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) during the first quarter, according to its most recent filing with the SEC. The firm owned 3,285 shares of the network technology company’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in Palo Alto Networks were worth $410,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Palo Capital Inc. boosted its stake in Palo Alto Networks by 14.0% in the first quarter. Palo Capital Inc. now owns 2,436 shares of the network technology company’s stock worth $274,000 after buying an additional 300 shares during the last quarter. Flinton Capital Management LLC boosted its stake in Palo Alto Networks by 94.8% in the first quarter. Flinton Capital Management LLC now owns 9,072 shares of the network technology company’s stock worth $1,022,000 after buying an additional 4,416 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Palo Alto Networks by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 83,110 shares of the network technology company’s stock worth $10,393,000 after buying an additional 4,974 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Palo Alto Networks by 6.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,445 shares of the network technology company’s stock worth $258,000 after buying an additional 148 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC purchased a new stake in Palo Alto Networks during the first quarter worth approximately $305,000. Hedge funds and other institutional investors own 80.51% of the company’s stock.
Palo Alto Networks, Inc. (NYSE:PANW) traded down 0.97% during trading on Friday, hitting $130.47. The stock had a trading volume of 830,916 shares. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $165.69. The firm’s market cap is $11.98 billion. The stock’s 50-day moving average is $136.07 and its 200 day moving average is $128.68.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative return on equity of 23.77% and a negative net margin of 14.38%. The business had revenue of $431.80 million for the quarter, compared to analysts’ expectations of $412.11 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s revenue was up 24.9% compared to the same quarter last year. Equities analysts anticipate that Palo Alto Networks, Inc. will post $2.59 earnings per share for the current year.
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A number of research firms have commented on PANW. BidaskClub cut shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Wednesday. Vetr upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $138.40 target price on the stock in a research note on Monday, July 31st. Citigroup Inc. raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and increased their price objective for the company from $147.00 to $160.00 in a report on Friday, July 7th. Northland Securities assumed coverage on shares of Palo Alto Networks in a report on Thursday, June 29th. They set an “outperform” rating and a $175.00 price objective for the company. Finally, ValuEngine raised shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating and twenty-seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $150.94.
In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the sale, the director now owns 271,645 shares in the company, valued at $37,478,860.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.80% of the company’s stock.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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