Mutual of America Capital Management LLC acquired a new stake in Palo Alto Networks Inc (NYSE:PANW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,533 shares of the network technology company’s stock, valued at approximately $315,000.
Other hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its stake in Palo Alto Networks by 2,475.0% in the second quarter. CIBC Private Wealth Group LLC now owns 515 shares of the network technology company’s stock valued at $106,000 after acquiring an additional 495 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of Palo Alto Networks by 107.7% during the first quarter. Trust Co. of Vermont now owns 671 shares of the network technology company’s stock worth $121,000 after purchasing an additional 348 shares in the last quarter. LeJeune Puetz Investment Counsel LLC bought a new position in shares of Palo Alto Networks during the second quarter worth $123,000. Peregrine Capital Management LLC bought a new position in shares of Palo Alto Networks during the second quarter worth $177,000. Finally, Aristotle Atlantic Partners LLC bought a new position in shares of Palo Alto Networks during the first quarter worth $200,000. 81.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:PANW opened at $229.03 on Wednesday. Palo Alto Networks Inc has a 12 month low of $135.85 and a 12 month high of $232.88. The firm has a market cap of $21.47 billion, a P/E ratio of -133.94, a P/E/G ratio of 20.65 and a beta of 0.82.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Monday, June 4th. The network technology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. Palo Alto Networks had a negative net margin of 8.65% and a negative return on equity of 8.51%. The business had revenue of $567.10 million for the quarter, compared to analyst estimates of $545.79 million. analysts predict that Palo Alto Networks Inc will post -0.27 EPS for the current year.
In other Palo Alto Networks news, CFO Kathleen Bonanno sold 5,818 shares of Palo Alto Networks stock in a transaction on Monday, June 11th. The shares were sold at an average price of $199.61, for a total value of $1,161,330.98. Following the sale, the chief financial officer now directly owns 42,780 shares in the company, valued at approximately $8,539,315.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nikesh Arora purchased 33,255 shares of the stock in a transaction on Friday, June 8th. The stock was acquired at an average price of $199.20 per share, for a total transaction of $6,624,396.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 73,910 shares of company stock worth $15,307,149 and sold 242,662 shares worth $49,447,386. 4.80% of the stock is currently owned by insiders.
A number of equities analysts have recently weighed in on PANW shares. Stifel Nicolaus lifted their price target on shares of Palo Alto Networks from $200.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, May 30th. Deutsche Bank lifted their price target on shares of Palo Alto Networks from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 24th. Deutsche Bank lifted their price target on shares of Palo Alto Networks from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 24th. Jefferies Financial Group lifted their price target on shares of Palo Alto Networks from $206.00 to $239.00 and gave the stock a “buy” rating in a research report on Monday, June 4th. Finally, Maxim Group lifted their price target on shares of Palo Alto Networks from $212.00 to $262.00 and gave the stock a “buy” rating in a research report on Tuesday, June 5th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. Palo Alto Networks presently has an average rating of “Buy” and an average price target of $204.40.
Palo Alto Networks Company 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.
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