Janney Montgomery Scott LLC raised its position in Palo Alto Networks Inc (NYSE:PANW) by 12.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 9,876 shares of the network technology company’s stock after acquiring an additional 1,113 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Palo Alto Networks were worth $2,268,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. IBM Retirement Fund boosted its stake in Palo Alto Networks by 1.5% in the second quarter. IBM Retirement Fund now owns 2,969 shares of the network technology company’s stock valued at $682,000 after acquiring an additional 44 shares in the last quarter. Montag A & Associates Inc. boosted its stake in Palo Alto Networks by 3.5% in the first quarter. Montag A & Associates Inc. now owns 1,956 shares of the network technology company’s stock valued at $321,000 after acquiring an additional 67 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Palo Alto Networks by 34.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 290 shares of the network technology company’s stock valued at $48,000 after acquiring an additional 74 shares in the last quarter. Coastline Trust Co boosted its stake in Palo Alto Networks by 4.1% in the first quarter. Coastline Trust Co now owns 1,885 shares of the network technology company’s stock valued at $309,000 after acquiring an additional 75 shares in the last quarter. Finally, Moody National Bank Trust Division raised its holdings in shares of Palo Alto Networks by 0.4% in the second quarter. Moody National Bank Trust Division now owns 18,501 shares of the network technology company’s stock worth $4,249,000 after buying an additional 76 shares during the last quarter. Institutional investors own 77.40% of the company’s stock.
In other news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $237.09, for a total value of $2,845,080.00. Following the sale, the executive vice president now owns 974,275 shares in the company, valued at $230,990,859.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark D. Mclaughlin sold 950 shares of Palo Alto Networks stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $249.00, for a total transaction of $236,550.00. Following the completion of the sale, the director now owns 97,304 shares in the company, valued at approximately $24,228,696. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,950 shares of company stock worth $5,835,270. Company insiders own 2.30% of the company’s stock.
A number of research analysts have issued reports on PANW shares. Robert W. Baird reaffirmed a “buy” rating on shares of Palo Alto Networks in a report on Friday, May 22nd. Barclays raised their price target on shares of Palo Alto Networks from $236.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. TheStreet raised shares of Palo Alto Networks from a “d+” rating to a “c-” rating in a report on Thursday, June 4th. Royal Bank of Canada raised their price target on shares of Palo Alto Networks from $175.00 to $225.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 19th. Finally, OTR Global cut shares of Palo Alto Networks to a “positive” rating in a report on Friday, May 8th. Twelve equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $256.60.
PANW opened at $255.92 on Friday. Palo Alto Networks Inc has a fifty-two week low of $125.47 and a fifty-two week high of $255.84. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.29 and a current ratio of 1.29. The company has a fifty day moving average of $236.17 and a two-hundred day moving average of $214.78. The stock has a market capitalization of $25.52 billion, a price-to-earnings ratio of -108.44 and a beta of 1.19.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, May 21st. The network technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $1.54. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 6.50%. The company had revenue of $869.40 million during the quarter, compared to analysts’ expectations of $831.52 million. During the same quarter in the previous year, the company earned $1.31 earnings per share. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, equities research analysts forecast that Palo Alto Networks Inc will post -0.55 earnings per share for the current year.
Palo Alto Networks Company 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.
Further Reading: What is operating income?
Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks Inc (NYSE:PANW).
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.