Palo Alto Networks (NYSE:PANW) Position Boosted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its holdings in Palo Alto Networks (NYSE:PANW) by 241.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,647 shares of the network technology company’s stock after purchasing an additional 29,435 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Palo Alto Networks were worth $7,470,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Cerebellum GP LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth about $127,000. NuWave Investment Management LLC lifted its position in Palo Alto Networks by 10,260.0% during the 1st quarter. NuWave Investment Management LLC now owns 1,036 shares of the network technology company’s stock worth $184,000 after acquiring an additional 1,026 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth about $192,000. Thompson Davis & CO. Inc. lifted its position in Palo Alto Networks by 1,075.0% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,175 shares of the network technology company’s stock worth $213,000 after acquiring an additional 1,075 shares during the period. Finally, First Mercantile Trust Co. acquired a new stake in Palo Alto Networks during the 4th quarter worth about $226,000. 81.93% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the company. Evercore ISI upgraded Palo Alto Networks from an “in-line” rating to an “outperform” rating and set a $180.00 price objective for the company in a research note on Thursday, January 18th. Goldman Sachs lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and set a $168.00 price objective for the company. in a research note on Monday, January 22nd. Zacks Investment Research upgraded Palo Alto Networks from a “hold” rating to a “strong-buy” rating and set a $181.00 price objective for the company in a research note on Monday, January 22nd. Deutsche Bank upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Tuesday, January 23rd. Finally, KeyCorp lifted their price objective on Palo Alto Networks from $170.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirty-eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $182.57.

Shares of Palo Alto Networks stock opened at $200.02 on Friday. The company has a market cap of $18.35 billion, a PE ratio of -116.97 and a beta of 0.94. Palo Alto Networks has a 1-year low of $198.59 and a 1-year high of $202.91.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data 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 business had revenue of $542.40 million during the quarter, compared to analyst estimates of $525.37 million. research analysts predict that Palo Alto Networks will post -0.37 earnings per share for the current year.

In related news, EVP Nir Zuk sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $181.65, for a total value of $5,449,500.00. Following the transaction, the executive vice president now directly owns 1,384,919 shares in the company, valued at $251,570,536.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $191.21, for a total value of $7,648,400.00. The disclosure for this sale can be found here. Insiders sold 228,960 shares of company stock worth $42,091,349 over the last quarter. 4.80% of the stock is currently owned by insiders.

Palo Alto Networks Profile

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.

Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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