Fmr LLC grew its holdings in Palo Alto Networks Inc (NYSE:PANW) by 424.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 326,709 shares of the network technology company’s stock after purchasing an additional 264,384 shares during the period. Fmr LLC owned approximately 0.34% of Palo Alto Networks worth $61,536,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Palo Alto Networks by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,709,183 shares of the network technology company’s stock worth $1,736,571,000 after acquiring an additional 94,743 shares during the last quarter. Northern Trust Corp grew its position in Palo Alto Networks by 3.5% during the 4th quarter. Northern Trust Corp now owns 1,135,398 shares of the network technology company’s stock worth $213,853,000 after acquiring an additional 38,069 shares during the last quarter. Navellier & Associates Inc grew its position in Palo Alto Networks by 23.9% during the 4th quarter. Navellier & Associates Inc now owns 3,317 shares of the network technology company’s stock worth $625,000 after acquiring an additional 639 shares during the last quarter. Gateway Investment Advisers LLC grew its position in Palo Alto Networks by 0.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 27,497 shares of the network technology company’s stock worth $5,179,000 after acquiring an additional 95 shares during the last quarter. Finally, M&T Bank Corp grew its position in Palo Alto Networks by 0.9% during the 4th quarter. M&T Bank Corp now owns 17,460 shares of the network technology company’s stock worth $3,289,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 80.88% of the company’s stock.
A number of brokerages recently weighed in on PANW. Jefferies Financial Group restated a “buy” rating and set a $296.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 27th. ValuEngine upgraded Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Morgan Stanley boosted their price objective on Palo Alto Networks from $266.00 to $290.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 27th. Robert W. Baird upped their price target on Palo Alto Networks from $250.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, February 20th. Finally, Wedbush upgraded Palo Alto Networks from a “neutral” rating to an “outperform” rating and upped their price target for the company from $225.00 to $265.00 in a research report on Thursday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Palo Alto Networks currently has an average rating of “Buy” and a consensus price target of $268.60.
In other news, EVP Lee Klarich sold 4,500 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $242.37, for a total value of $1,090,665.00. Following the completion of the sale, the executive vice president now directly owns 303,720 shares of the company’s stock, valued at $73,612,616.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jean Compeau sold 1,258 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $238.51, for a total value of $300,045.58. Following the completion of the sale, the insider now directly owns 22,578 shares of the company’s stock, valued at $5,385,078.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 242,044 shares of company stock worth $56,171,679. 3.10% of the stock is owned by company insiders.
Shares of NYSE:PANW opened at $248.22 on Tuesday. The stock has a market capitalization of $23.15 billion, a PE ratio of -451.31, a price-to-earnings-growth ratio of 11.77 and a beta of 0.85. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.87 and a current ratio of 1.87. Palo Alto Networks Inc has a 1 year low of $160.08 and a 1 year high of $260.63.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Tuesday, February 26th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.29. The company had revenue of $711.00 million for the quarter, compared to the consensus estimate of $682.32 million. Palo Alto Networks had a positive return on equity of 4.69% and a negative net margin of 3.47%. The firm’s revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 EPS. On average, equities research analysts forecast that Palo Alto Networks Inc will post 0.89 EPS for the current fiscal year.
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Palo Alto Networks Company Profile
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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