Wealthsource Partners LLC acquired a new stake in Palo Alto Networks Inc (NYSE:PANW) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 929 shares of the network technology company’s stock, valued at approximately $209,000.
A number of other large investors have also recently modified their holdings of the stock. Banco de Sabadell S.A acquired a new position in Palo Alto Networks during the 2nd quarter valued at about $103,000. CIBC Private Wealth Group LLC increased its stake in Palo Alto Networks by 2,475.0% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 515 shares of the network technology company’s stock valued at $106,000 after buying an additional 495 shares during the period. First Manhattan Co. acquired a new position in Palo Alto Networks during the 3rd quarter valued at about $106,000. Price Capital Management Inc. acquired a new position in Palo Alto Networks during the 3rd quarter valued at about $113,000. Finally, NEXT Financial Group Inc acquired a new position in Palo Alto Networks during the 3rd quarter valued at about $125,000. Hedge funds and other institutional investors own 80.83% of the company’s stock.
Palo Alto Networks stock opened at $175.09 on Friday. The company has a market capitalization of $17.25 billion, a PE ratio of -318.35, a PEG ratio of 10.90 and a beta of 1.14. The company has a current ratio of 2.10, a quick ratio of 1.93 and a debt-to-equity ratio of 1.10. Palo Alto Networks Inc has a fifty-two week low of $142.67 and a fifty-two week high of $239.50.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Thursday, November 29th. The network technology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $656.00 million for the quarter, compared to the consensus estimate of $632.16 million. Palo Alto Networks had a negative net margin of 5.04% and a negative return on equity of 1.72%. The firm’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. On average, equities research analysts predict that Palo Alto Networks Inc will post 0.71 earnings per share for the current fiscal year.
PANW has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Palo Alto Networks to $282.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. First Analysis raised shares of Palo Alto Networks from an “outperform” rating to a “strong-buy” rating and set a $240.00 target price on the stock in a research note on Friday, November 30th. Raymond James reissued a “buy” rating on shares of Palo Alto Networks in a research note on Sunday, December 2nd. Evercore ISI reissued a “buy” rating and set a $270.00 target price on shares of Palo Alto Networks in a research note on Friday, September 7th. Finally, CIBC raised their target price on shares of Palo Alto Networks from $235.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Palo Alto Networks presently has an average rating of “Buy” and an average target price of $239.94.
In related news, Director Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $235.24, for a total transaction of $9,409,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stanley J. Meresman sold 1,958 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $177.48, for a total transaction of $347,505.84. Following the sale, the director now owns 1,658 shares of the company’s stock, valued at $294,261.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 256,669 shares of company stock worth $55,480,042. 3.10% of the stock is currently owned by insiders.
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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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