Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Vestor Capital LLC

Vestor Capital LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) by 2.4% in the 1st quarter, HoldingsChannel reports. The fund owned 6,087 shares of the network technology company’s stock after acquiring an additional 145 shares during the period. Vestor Capital LLC’s holdings in Palo Alto Networks were worth $3,789,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PANW. Waratah Capital Advisors Ltd. purchased a new stake in shares of Palo Alto Networks during the 1st quarter valued at $405,000. Fort Sheridan Advisors LLC grew its stake in shares of Palo Alto Networks by 8.6% during the 1st quarter. Fort Sheridan Advisors LLC now owns 1,154 shares of the network technology company’s stock valued at $718,000 after buying an additional 91 shares during the period. Meitav Dash Investments Ltd. grew its stake in shares of Palo Alto Networks by 240.3% during the 1st quarter. Meitav Dash Investments Ltd. now owns 148,969 shares of the network technology company’s stock valued at $92,233,000 after buying an additional 105,199 shares during the period. Wealthsource Partners LLC grew its stake in shares of Palo Alto Networks by 1.4% during the 1st quarter. Wealthsource Partners LLC now owns 1,654 shares of the network technology company’s stock valued at $1,030,000 after buying an additional 23 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd grew its stake in shares of Palo Alto Networks by 16.5% during the 1st quarter. ICICI Prudential Asset Management Co Ltd now owns 283 shares of the network technology company’s stock valued at $174,000 after buying an additional 40 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

PANW traded down $0.33 on Friday, hitting $501.37. 1,685,690 shares of the company’s stock were exchanged, compared to its average volume of 1,250,289. Palo Alto Networks, Inc. has a twelve month low of $358.37 and a twelve month high of $640.90. The stock has a fifty day moving average of $502.07 and a two-hundred day moving average of $530.35.

Palo Alto Networks (NASDAQ:PANWGet Rating) last posted its earnings results on Thursday, May 19th. The network technology company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.21). Palo Alto Networks had a negative return on equity of 57.50% and a negative net margin of 7.54%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company posted ($0.62) EPS. Palo Alto Networks’s revenue for the quarter was up 29.1% on a year-over-year basis. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PANW. UBS Group upped their price target on shares of Palo Alto Networks to $545.00 in a research report on Friday, May 20th. Oppenheimer decreased their price target on shares of Palo Alto Networks from $700.00 to $600.00 in a research report on Friday, May 20th. Jefferies Financial Group decreased their price target on shares of Palo Alto Networks to $600.00 in a research report on Tuesday, May 17th. Wells Fargo & Company reaffirmed a “buy” rating and set a $700.00 price target on shares of Palo Alto Networks in a research report on Friday, May 20th. Finally, Cowen reaffirmed a “buy” rating and set a $620.00 price target on shares of Palo Alto Networks in a research report on Friday, May 20th. Three analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $630.88.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 4,807 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $81,700.59, for a total value of $392,734,736.13. Following the completion of the transaction, the executive vice president now owns 247,744 shares in the company, valued at approximately $20,240,830,968.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Lee Klarich sold 4,807 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $81,700.59, for a total value of $392,734,736.13. Following the completion of the transaction, the executive vice president now directly owns 247,744 shares in the company, valued at $20,240,830,968.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nikesh Arora sold 3,125 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $500.52, for a total transaction of $1,564,125.00. Following the completion of the transaction, the chief executive officer now owns 489,791 shares of the company’s stock, valued at $245,150,191.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,170 shares of company stock worth $418,628,327. Insiders own 2.20% of the company’s stock.

About Palo Alto Networks

(Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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 (NASDAQ:PANW)

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