Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Global Retirement Partners LLC
A number of other hedge funds have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth approximately $280,000. Traynor Capital Management Inc. purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth $1,771,000. SeaCrest Wealth Management LLC raised its position in shares of Palo Alto Networks by 13.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 7,775 shares of the network technology company’s stock valued at $2,200,000 after buying an additional 914 shares during the last quarter. Ocean Capital Management LLC lifted its stake in shares of Palo Alto Networks by 70.0% in the fourth quarter. Ocean Capital Management LLC now owns 5,569 shares of the network technology company’s stock worth $1,642,000 after buying an additional 2,294 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in Palo Alto Networks by 28.5% during the fourth quarter. Ritholtz Wealth Management now owns 3,378 shares of the network technology company’s stock worth $996,000 after acquiring an additional 750 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.
Palo Alto Networks Stock Up 0.7 %
NASDAQ:PANW opened at $284.13 on Monday. The company has a market capitalization of $91.80 billion, a PE ratio of 44.40, a P/E/G ratio of 3.87 and a beta of 1.21. Palo Alto Networks, Inc. has a 52-week low of $176.30 and a 52-week high of $380.84. The stock’s 50 day moving average price is $317.26 and its 200 day moving average price is $286.56.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have weighed in on PANW shares. Capital One Financial lowered shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 target price on the stock. in a research note on Wednesday, February 21st. Rosenblatt Securities cut Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $265.00 in a report on Wednesday, February 21st. Mizuho reduced their price target on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Sanford C. Bernstein started coverage on shares of Palo Alto Networks in a report on Thursday, January 18th. They issued an “outperform” rating for the company. Finally, Cantor Fitzgerald reduced their target price on shares of Palo Alto Networks from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.82.
Get Our Latest Stock Analysis on Palo Alto Networks
Insider Buying and Selling
In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $56,327,194.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $56,327,194.65. The disclosure for this sale can be found here. Insiders have sold a total of 143,153 shares of company stock valued at $44,107,332 over the last quarter. 3.30% of the stock is currently owned by insiders.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.
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