Gulf International Bank UK Ltd boosted its stake in Palo Alto Networks Inc (NYSE:PANW) by 8.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,783 shares of the network technology company’s stock after purchasing an additional 2,300 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Palo Alto Networks were worth $6,934,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banco de Sabadell S.A bought a new stake in Palo Alto Networks in the second quarter valued at about $103,000. CIBC Private Wealth Group LLC increased its holdings 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 purchasing an additional 495 shares during the last quarter. First Manhattan Co. bought a new stake in Palo Alto Networks in the third quarter valued at about $106,000. Price Capital Management Inc. bought a new stake in Palo Alto Networks in the third quarter valued at about $113,000. Finally, LeJeune Puetz Investment Counsel LLC bought a new stake in Palo Alto Networks in the second quarter valued at about $123,000. Institutional investors and hedge funds own 80.09% of the company’s stock.
PANW stock opened at $183.09 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.42. The stock has a market cap of $17.34 billion, a PE ratio of -332.89, a PEG ratio of 12.91 and a beta of 1.22. Palo Alto Networks Inc has a fifty-two week low of $135.85 and a fifty-two week high of $239.50.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Thursday, September 6th. The network technology company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $658.10 million during the quarter, compared to analysts’ expectations of $634.14 million. Palo Alto Networks had a negative return on equity of 4.12% and a negative net margin of 6.51%. Palo Alto Networks’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, equities research analysts anticipate that Palo Alto Networks Inc will post 0.61 EPS for the current fiscal year.
A number of equities research analysts recently commented on PANW shares. ValuEngine upgraded Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, August 3rd. Zacks Investment Research downgraded Palo Alto Networks from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Raymond James boosted their target price on Palo Alto Networks from $240.00 to $254.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Evercore ISI reissued a “buy” rating and issued a $270.00 target price on shares of Palo Alto Networks in a research note on Friday, September 7th. Finally, Jefferies Financial Group boosted their target price on Palo Alto Networks to $267.00 and gave the company a “buy” rating in a research note on Friday, September 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $240.94.
In other news, CFO Kathleen Bonanno sold 467 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $213.03, for a total transaction of $99,485.01. Following the completion of the transaction, the chief financial officer now directly owns 34,954 shares of the company’s stock, valued at $7,446,250.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Mark Anderson sold 30,000 shares of the company’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $231.92, for a total value of $6,957,600.00. Following the transaction, the president now directly owns 140,841 shares of the company’s stock, valued at $32,663,844.72. The disclosure for this sale can be found here. Insiders have sold 285,178 shares of company stock valued at $62,189,621 over the last ninety days. 3.10% of the stock is owned by insiders.
Palo Alto Networks 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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