Wetherby Asset Management Inc. cut its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,346 shares of the network technology company’s stock after selling 9 shares during the period. Wetherby Asset Management Inc.’s holdings in Palo Alto Networks were worth $1,544,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. Ayalon Holdings Ltd. raised its position in shares of Palo Alto Networks by 110.0% in the second quarter. Ayalon Holdings Ltd. now owns 840 shares of the network technology company’s stock worth $102,000 after buying an additional 440 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Palo Alto Networks by 59.3% in the third quarter. Toronto Dominion Bank now owns 774 shares of the network technology company’s stock worth $123,000 after buying an additional 288 shares in the last quarter. Amica Retiree Medical Trust acquired a new position in shares of Palo Alto Networks during the third quarter worth $139,000. Wunderlich Capital Managemnt raised its position in shares of Palo Alto Networks by 83.7% in the second quarter. Wunderlich Capital Managemnt now owns 1,159 shares of the network technology company’s stock worth $142,000 after buying an additional 528 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. raised its position in shares of Palo Alto Networks by 11.1% in the third quarter. Winslow Evans & Crocker Inc. now owns 904 shares of the network technology company’s stock worth $144,000 after buying an additional 90 shares in the last quarter. 86.42% of the stock is currently owned by hedge funds and other institutional investors.
Palo Alto Networks, Inc. (NYSE:PANW) traded down 0.13% during trading on Friday, hitting $155.29. 966,121 shares of the stock traded hands. Palo Alto Networks, Inc. has a one year low of $114.64 and a one year high of $165.69. The company’s 50 day moving average is $139.78 and its 200 day moving average is $142.34. The company’s market capitalization is $14.24 billion.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Monday, November 21st. The network technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Palo Alto Networks had a negative net margin of 16.83% and a negative return on equity of 35.75%. The firm had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $400.20 million. During the same period last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, equities analysts forecast that Palo Alto Networks, Inc. will post $2.78 EPS for the current fiscal year.
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PANW has been the topic of a number of recent analyst reports. DA Davidson restated a “buy” rating and set a $79.00 price objective (down from $82.00) on shares of Palo Alto Networks in a report on Wednesday, December 21st. Vetr downgraded Palo Alto Networks from a “buy” rating to a “hold” rating and set a $151.73 price objective for the company. in a report on Tuesday, January 31st. Piper Jaffray Companies set a $178.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a report on Thursday, November 24th. BTIG Research restated a “buy” rating and set a $190.00 price objective on shares of Palo Alto Networks in a report on Tuesday, November 22nd. Finally, RBC Capital Markets dropped their price objective on Palo Alto Networks from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $171.43.
In other Palo Alto Networks news, insider Nir Zuk sold 2,000 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $134.02, for a total value of $268,040.00. Following the sale, the insider now directly owns 1,836,694 shares in the company, valued at $246,153,729.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark D. Mclaughlin sold 26,566 shares of the stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $127.32, for a total transaction of $3,382,383.12. Following the completion of the sale, the chief executive officer now owns 568,760 shares in the company, valued at $72,414,523.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,415 shares of company stock worth $7,527,930. Insiders own 4.80% of the company’s stock.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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