Green Square Capital LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,088 shares of the network technology company’s stock, valued at approximately $413,000.
A number of other hedge funds also recently modified their holdings of PANW. Global X Management Co. LLC raised its position in Palo Alto Networks by 31.9% during the first quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after purchasing an additional 227 shares during the period. Sun Life Financial INC raised its holdings in shares of Palo Alto Networks by 785.0% in the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after buying an additional 887 shares during the period. Salem Investment Counselors Inc. purchased a new stake in shares of Palo Alto Networks in the first quarter worth approximately $191,000. OLD National Bancorp IN purchased a new stake in shares of Palo Alto Networks in the second quarter worth approximately $201,000. Finally, Shelton Capital Management purchased a new stake in shares of Palo Alto Networks in the second quarter worth approximately $201,000. Institutional investors and hedge funds own 76.96% of the company’s stock.
Several equities research analysts have recently weighed in on PANW shares. ValuEngine upgraded Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Vetr raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $140.90 price objective on the stock in a research note on Tuesday, June 27th. Northland Securities began coverage on Palo Alto Networks in a research note on Thursday, June 29th. They issued an “outperform” rating and a $175.00 price objective on the stock. BidaskClub cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Citigroup Inc. raised Palo Alto Networks from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $147.00 to $160.00 in a research note on Friday, July 7th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $160.33.
Shares of Palo Alto Networks, Inc. (NYSE:PANW) traded up 0.28% on Tuesday, hitting $149.42. The stock had a trading volume of 215,267 shares. The stock’s market cap is $13.72 billion. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $165.69. The company’s 50 day moving average is $142.58 and its 200 day moving average is $130.01.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company had revenue of $509.00 million for the quarter, compared to the consensus estimate of $487.53 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. Equities research analysts predict that Palo Alto Networks, Inc. will post $3.33 EPS for the current fiscal year.
In related news, Director Stanley J. Meresman sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $151.01, for a total value of $302,020.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark D. Mclaughlin sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $149.70, for a total transaction of $5,239,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 254,744 shares of company stock worth $37,804,516 over the last 90 days. 4.80% of the stock is owned by insiders.
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About Palo Alto Networks
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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