Cetera Advisor Networks LLC trimmed its holdings in shares of Palo Alto Networks Inc (NYSE:PANW) by 3.7% in the first quarter, Holdings Channel.com reports. The firm owned 4,071 shares of the network technology company’s stock after selling 158 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Palo Alto Networks were worth $667,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PANW. Howard Wealth Management LLC acquired a new position in Palo Alto Networks during the 4th quarter worth approximately $25,000. Clean Yield Group acquired a new position in Palo Alto Networks during the 1st quarter worth approximately $30,000. Keebeck Wealth Management LLC acquired a new position in Palo Alto Networks during the 4th quarter worth approximately $37,000. Farmers & Merchants Investments Inc. boosted its position in Palo Alto Networks by 2,150.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 225 shares of the network technology company’s stock worth $37,000 after acquiring an additional 215 shares during the last quarter. Finally, Advisory Alpha LLC boosted its position in Palo Alto Networks by 1,153.8% during the 4th quarter. Advisory Alpha LLC now owns 163 shares of the network technology company’s stock worth $39,000 after acquiring an additional 150 shares during the last quarter. 77.99% of the stock is owned by institutional investors and hedge funds.
PANW stock opened at $237.93 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market capitalization of $22.88 billion, a price-to-earnings ratio of -100.82 and a beta of 1.14. The business’s fifty day moving average price is $195.88 and its two-hundred day moving average price is $214.24. Palo Alto Networks Inc has a fifty-two week low of $125.47 and a fifty-two week high of $251.10.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Thursday, May 21st. The network technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of ($0.37) by $1.54. The firm had revenue of $869.40 million for the quarter, compared to analysts’ expectations of $831.52 million. Palo Alto Networks had a negative return on equity of 5.65% and a negative net margin of 7.01%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 EPS. Research analysts expect that Palo Alto Networks Inc will post -0.77 EPS for the current year.
In related news, Director John Donovan purchased 8,102 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average price of $185.35 per share, for a total transaction of $1,501,705.70. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $165.75, for a total value of $1,989,000.00. Following the completion of the transaction, the executive vice president now owns 838,699 shares in the company, valued at approximately $139,014,359.25. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
PANW has been the subject of a number of recent research reports. Mizuho upped their price target on Palo Alto Networks from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday. Credit Suisse Group increased their price objective on Palo Alto Networks from $190.00 to $195.00 and gave the company a “neutral” rating in a report on Friday. Raymond James downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 25th. Rosenblatt Securities reissued a “buy” rating and issued a $270.00 price objective on shares of Palo Alto Networks in a report on Friday. Finally, Northland Securities reissued an “outperform” rating and issued a $285.00 price objective (up previously from $274.00) on shares of Palo Alto Networks in a report on Friday. Twelve equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $254.48.
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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