Palo Alto Networks Inc (NYSE:PANW) Stake Raised by Swiss National Bank

Swiss National Bank increased its holdings in Palo Alto Networks Inc (NYSE:PANW) by 24.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,786 shares of the network technology company’s stock after acquiring an additional 83,200 shares during the period. Swiss National Bank owned about 0.43% of Palo Alto Networks worth $70,140,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Howard Wealth Management LLC purchased a new stake in Palo Alto Networks in the 4th quarter worth about $25,000. Clean Yield Group acquired a new position in Palo Alto Networks in the 1st quarter worth about $30,000. Keebeck Wealth Management LLC acquired a new position in Palo Alto Networks in the 4th quarter worth about $37,000. Farmers & Merchants Investments Inc. increased its position in Palo Alto Networks by 2,150.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 225 shares of the network technology company’s stock worth $37,000 after purchasing an additional 215 shares during the last quarter. Finally, Advisory Alpha LLC increased its position in Palo Alto Networks by 1,153.8% in the 4th quarter. Advisory Alpha LLC now owns 163 shares of the network technology company’s stock worth $39,000 after purchasing an additional 150 shares during the last quarter. 77.99% of the stock is owned by hedge funds and other institutional investors.

Shares of PANW stock opened at $229.50 on Friday. The stock has a 50 day moving average of $194.57 and a two-hundred day moving average of $214.23. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.13. Palo Alto Networks Inc has a 12 month low of $125.47 and a 12 month high of $251.10. The company has a market capitalization of $23.38 billion, a P/E ratio of -127.50 and a beta of 1.14.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $1.54. Palo Alto Networks had a negative return on equity of 2.19% and a negative net margin of 5.58%. The company had revenue of $869.40 million during the quarter, compared to the consensus estimate of $831.52 million. During the same quarter last year, the company earned $1.31 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis. Sell-side analysts predict that Palo Alto Networks Inc will post -0.77 earnings per share for the current fiscal year.

In other news, Director John Donovan acquired 8,102 shares of Palo Alto Networks stock in a transaction on Monday, March 2nd. The stock was bought at an average price of $185.35 per share, for a total transaction of $1,501,705.70. Following the transaction, the director now owns 11,222 shares of the company’s stock, valued at $2,079,997.70. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $194.20, for a total value of $2,330,400.00. Following the completion of the sale, the executive vice president now owns 986,875 shares of the company’s stock, valued at approximately $191,651,125. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

Several brokerages have weighed in on PANW. Monness Crespi & Hardt upped their target price on Palo Alto Networks from $210.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday. Dougherty & Co raised Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Tuesday. BMO Capital Markets upped their target price on Palo Alto Networks from $220.00 to $230.00 and gave the stock a “market perform” rating in a research report on Monday. Royal Bank of Canada upped their target price on Palo Alto Networks from $175.00 to $225.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, DA Davidson raised Palo Alto Networks from a “neutral” rating to a “buy” rating in a report on Monday. Twelve equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Palo Alto Networks has an average rating of “Buy” and an average target price of $248.00.

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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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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