Hartwell J M Limited Partnership lowered its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,895 shares of the network technology company’s stock after selling 335 shares during the quarter. Palo Alto Networks accounts for about 0.9% of Hartwell J M Limited Partnership’s portfolio, making the stock its 16th largest position. Hartwell J M Limited Partnership’s holdings in Palo Alto Networks were worth $5,075,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Palo Alto Networks by 6.0% in the third quarter. Dimensional Fund Advisors LP now owns 98,653 shares of the network technology company’s stock valued at $22,223,000 after acquiring an additional 5,616 shares in the last quarter. Veritable L.P. acquired a new position in Palo Alto Networks in the third quarter valued at $201,000. Advisors Asset Management Inc. boosted its stake in Palo Alto Networks by 58.5% in the third quarter. Advisors Asset Management Inc. now owns 6,893 shares of the network technology company’s stock valued at $1,553,000 after acquiring an additional 2,544 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Palo Alto Networks by 28.7% in the third quarter. Mackenzie Financial Corp now owns 3,867 shares of the network technology company’s stock valued at $871,000 after acquiring an additional 862 shares in the last quarter. Finally, HPM Partners LLC acquired a new position in Palo Alto Networks in the third quarter valued at $226,000. 80.88% of the stock is currently owned by institutional investors and hedge funds.
In other Palo Alto Networks news, EVP Nir Zuk sold 30,000 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $217.66, for a total value of $6,529,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 4,500 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $242.37, for a total transaction of $1,090,665.00. Following the completion of the transaction, the executive vice president now directly owns 303,720 shares of the company’s stock, valued at $73,612,616.40. The disclosure for this sale can be found here. Insiders have sold 242,044 shares of company stock valued at $56,171,679 over the last three months. 3.10% of the stock is currently owned by corporate insiders.
NYSE PANW opened at $244.48 on Wednesday. The stock has a market cap of $22.92 billion, a P/E ratio of -444.51, a PEG ratio of 11.88 and a beta of 0.85. Palo Alto Networks Inc has a 52-week low of $160.08 and a 52-week high of $260.63. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.87 and a quick ratio of 1.87.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Tuesday, February 26th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.29. The firm had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $682.32 million. Palo Alto Networks had a negative net margin of 3.47% and a positive return on equity of 4.69%. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. As a group, sell-side analysts predict that Palo Alto Networks Inc will post 0.89 EPS for the current fiscal year.
Several research firms have issued reports on PANW. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $278.00 price objective for the company in a research note on Tuesday. Mizuho assumed coverage on shares of Palo Alto Networks in a research note on Tuesday, March 26th. They set a “buy” rating and a $285.00 target price for the company. Oppenheimer increased their target price on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 27th. Dougherty & Co reiterated a “buy” rating and set a $300.00 target price (up previously from $260.00) on shares of Palo Alto Networks in a research note on Wednesday, February 27th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $280.00 target price (up previously from $235.00) on shares of Palo Alto Networks in a research note on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. Palo Alto Networks currently has an average rating of “Buy” and an average target price of $268.85.
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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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