Baird Financial Group Inc. decreased its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 5.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,870 shares of the network technology company’s stock after selling 2,475 shares during the period. Baird Financial Group Inc.’s holdings in Palo Alto Networks were worth $9,638,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of PANW. Banco de Sabadell S.A acquired a new position in Palo Alto Networks during the 2nd quarter valued at approximately $103,000. CIBC Private Wealth Group LLC increased its stake in Palo Alto Networks by 2,475.0% during the 2nd 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 in the last quarter. First Manhattan Co. acquired a new position in Palo Alto Networks during the 3rd quarter valued at approximately $106,000. Price Capital Management Inc. acquired a new position in Palo Alto Networks during the 3rd quarter valued at approximately $113,000. Finally, NEXT Financial Group Inc acquired a new position in Palo Alto Networks during the 3rd quarter valued at approximately $125,000. 81.73% of the stock is owned by institutional investors.
Shares of NYSE PANW opened at $172.95 on Monday. Palo Alto Networks Inc has a 1 year low of $140.12 and a 1 year high of $239.50. The firm has a market cap of $16.31 billion, a P/E ratio of -314.45, a PEG ratio of 12.15 and a beta of 1.22. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.42.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, November 29th. The network technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. Palo Alto Networks had a negative net margin of 5.04% and a negative return on equity of 1.99%. The firm had revenue of $656.00 million for the quarter, compared to the consensus estimate of $632.16 million. During the same period in the prior year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 30.7% compared to the same quarter last year. On average, research analysts anticipate that Palo Alto Networks Inc will post 0.61 EPS for the current year.
PANW has been the topic of a number of research reports. Raymond James reiterated a “buy” rating on shares of Palo Alto Networks in a research note on Sunday. KeyCorp increased their price objective on shares of Palo Alto Networks from $245.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. Rosenblatt Securities increased their price objective on shares of Palo Alto Networks to $280.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Monness Crespi & Hardt increased their price objective on shares of Palo Alto Networks from $235.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Finally, Jefferies Financial Group increased their price objective on shares of Palo Alto Networks to $267.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $240.26.
In other Palo Alto Networks news, EVP Lee Klarich sold 8,000 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $231.91, for a total transaction of $1,855,280.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 30,000 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $186.20, for a total transaction of $5,586,000.00. Following the transaction, the executive vice president now directly owns 1,121,927 shares in the company, valued at $208,902,807.40. The disclosure for this sale can be found here. Insiders have sold 284,711 shares of company stock worth $62,090,136 over the last three months. 3.10% of the stock is currently owned by insiders.
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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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