State of Wisconsin Investment Board lessened its position in shares of Palo Alto Networks (NYSE:PANW) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,510 shares of the network technology company’s stock after selling 1,028 shares during the quarter. State of Wisconsin Investment Board owned 0.10% of Palo Alto Networks worth $17,337,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. FTB Advisors Inc. increased its position in Palo Alto Networks by 531.0% during the first quarter. FTB Advisors Inc. now owns 1,830 shares of the network technology company’s stock valued at $331,000 after acquiring an additional 1,540 shares during the last quarter. Macquarie Group Ltd. increased its position in Palo Alto Networks by 189.8% during the fourth quarter. Macquarie Group Ltd. now owns 91,900 shares of the network technology company’s stock valued at $14,448,000 after acquiring an additional 60,187 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in Palo Alto Networks by 53.0% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 27,412 shares of the network technology company’s stock valued at $3,973,000 after acquiring an additional 9,491 shares during the last quarter. Pinebridge Investments L.P. increased its position in Palo Alto Networks by 55.2% during the fourth quarter. Pinebridge Investments L.P. now owns 23,998 shares of the network technology company’s stock valued at $3,478,000 after acquiring an additional 8,533 shares during the last quarter. Finally, Suntrust Banks Inc. purchased a new stake in Palo Alto Networks during the fourth quarter valued at $237,000. Institutional investors own 81.93% of the company’s stock.
In other Palo Alto Networks news, CEO Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $191.21, for a total transaction of $7,648,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $181.65, for a total value of $5,449,500.00. Following the sale, the executive vice president now owns 1,384,919 shares in the company, valued at $251,570,536.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 228,960 shares of company stock valued at $42,091,349. 4.80% of the stock is owned by corporate insiders.
Shares of Palo Alto Networks stock opened at $200.02 on Friday. Palo Alto Networks has a 12 month low of $198.59 and a 12 month high of $202.91.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, February 26th. The network technology company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.19). Palo Alto Networks had a negative net margin of 9.96% and a negative return on equity of 14.74%. The firm had revenue of $542.40 million for the quarter, compared to the consensus estimate of $525.37 million. research analysts predict that Palo Alto Networks will post -0.37 earnings per share for the current fiscal year.
A number of analysts recently commented on the company. Gabelli cut Palo Alto Networks from a “buy” rating to a “hold” rating and set a $188.00 price objective for the company. in a research report on Monday, April 30th. They noted that the move was a valuation call. Monness Crespi & Hardt upped their price objective on Palo Alto Networks from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, March 22nd. Zacks Investment Research upgraded Palo Alto Networks from a “sell” rating to a “hold” rating in a research report on Thursday, March 8th. ValuEngine raised Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Oppenheimer boosted their price target on Palo Alto Networks from $180.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $182.57.
About Palo Alto Networks
Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.
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 (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.