Keybank National Association OH cut its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 8.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,839 shares of the network technology company’s stock after selling 2,603 shares during the period. Keybank National Association OH’s holdings in Palo Alto Networks were worth $5,471,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Oakbrook Investments LLC raised its stake in shares of Palo Alto Networks by 2.0% during the 2nd quarter. Oakbrook Investments LLC now owns 2,525 shares of the network technology company’s stock worth $514,000 after buying an additional 50 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Palo Alto Networks by 15.9% during the 2nd quarter. Captrust Financial Advisors now owns 402 shares of the network technology company’s stock worth $82,000 after buying an additional 55 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Palo Alto Networks by 4.5% during the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,283 shares of the network technology company’s stock worth $261,000 after buying an additional 55 shares in the last quarter. CWM LLC raised its stake in shares of Palo Alto Networks by 11.0% during the 2nd quarter. CWM LLC now owns 603 shares of the network technology company’s stock worth $123,000 after buying an additional 60 shares in the last quarter. Finally, Juncture Wealth Strategies LLC raised its stake in shares of Palo Alto Networks by 2.9% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,207 shares of the network technology company’s stock worth $450,000 after buying an additional 63 shares in the last quarter. 78.77% of the stock is owned by hedge funds and other institutional investors.
In other Palo Alto Networks news, CFO Kathleen Bonanno sold 1,610 shares of the stock in a transaction on Sunday, October 20th. The stock was sold at an average price of $214.74, for a total transaction of $345,731.40. Following the transaction, the chief financial officer now owns 46,636 shares of the company’s stock, valued at approximately $10,014,614.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $210.66, for a total value of $2,527,920.00. Following the transaction, the executive vice president now directly owns 924,695 shares in the company, valued at approximately $194,796,248.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,610 shares of company stock worth $16,437,971. 2.30% of the stock is owned by insiders.
A number of brokerages have recently issued reports on PANW. Bank of America cut their target price on Palo Alto Networks from $307.00 to $275.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. JPMorgan Chase & Co. upped their price target on Palo Alto Networks from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Robert W. Baird set a $275.00 price target on Palo Alto Networks and gave the stock a “buy” rating in a report on Sunday, September 15th. Wedbush restated a “buy” rating and issued a $275.00 price target on shares of Palo Alto Networks in a report on Thursday, September 5th. Finally, SunTrust Banks started coverage on Palo Alto Networks in a report on Wednesday, October 2nd. They issued a “buy” rating and a $246.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $261.03.
NYSE:PANW traded up $3.07 during trading hours on Friday, reaching $236.93. 728,062 shares of the company traded hands, compared to its average volume of 1,284,199. The firm’s 50-day moving average is $215.88 and its 200-day moving average is $215.76. The stock has a market cap of $22.68 billion, a P/E ratio of 376.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.78 and a quick ratio of 1.78. 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 earnings results on Wednesday, September 4th. The network technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). The company had revenue of $805.80 million for the quarter, compared to analyst estimates of $803.56 million. Palo Alto Networks had a negative net margin of 2.82% and a positive return on equity of 4.82%. Palo Alto Networks’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. As a group, research analysts predict that Palo Alto Networks Inc will post -0.05 earnings per share for the current year.
About Palo Alto Networks
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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