National Pension Service boosted its position in Palo Alto Networks Inc (NYSE:PANW) by 13.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 122,941 shares of the network technology company’s stock after acquiring an additional 14,914 shares during the quarter. National Pension Service’s holdings in Palo Alto Networks were worth $25,050,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. BSW Wealth Partners acquired a new stake in Palo Alto Networks in the 1st quarter worth $58,000. Carlson Capital L P lifted its holdings in shares of Palo Alto Networks by 26.4% during the 2nd quarter. Carlson Capital L P now owns 186,934 shares of the network technology company’s stock worth $38,090,000 after acquiring an additional 39,057 shares during the period. Cumberland Partners Ltd lifted its holdings in shares of Palo Alto Networks by 33.3% during the 2nd quarter. Cumberland Partners Ltd now owns 2,000 shares of the network technology company’s stock worth $408,000 after acquiring an additional 500 shares during the period. Wellington Shields Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 13.5% during the 1st quarter. Wellington Shields Capital Management LLC now owns 8,400 shares of the network technology company’s stock worth $2,040,000 after acquiring an additional 1,000 shares during the period. Finally, BBT Capital Management LLC bought a new position in shares of Palo Alto Networks during the 2nd quarter worth about $756,000. Institutional investors and hedge funds own 79.37% of the company’s stock.
A number of equities analysts have recently commented on PANW shares. BMO Capital Markets reduced their price objective on shares of Palo Alto Networks from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Jefferies Financial Group cut their price target on shares of Palo Alto Networks from $296.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Monness Crespi & Hardt reissued a “buy” rating and set a $265.00 price target (down from $280.00) on shares of Palo Alto Networks in a report on Thursday, May 30th. Mizuho cut 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 report on Thursday, May 30th. Finally, ValuEngine raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and an average price target of $261.23.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Wednesday, September 4th. The network technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.08). Palo Alto Networks had a positive return on equity of 4.82% and a negative net margin of 2.82%. The business had revenue of $805.80 million for the quarter, compared to analyst estimates of $803.56 million. During the same quarter in the prior year, the firm earned $1.28 EPS. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, research analysts predict that Palo Alto Networks Inc will post 0.47 EPS for the current year.
In other news, Director Mark D. Mclaughlin sold 40,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $205.14, for a total transaction of $8,205,600.00. Following the completion of the sale, the director now owns 245,221 shares in the company, valued at approximately $50,304,635.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kathleen Bonanno sold 1,609 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $224.00, for a total transaction of $360,416.00. Following the sale, the chief financial officer now owns 28,572 shares of the company’s stock, valued at approximately $6,400,128. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,220 shares of company stock valued at $36,666,236. 3.10% of the stock is owned by corporate insiders.
Palo Alto Networks 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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