Teacher Retirement System of Texas trimmed its holdings in Palo Alto Networks Inc (NYSE:PANW) by 26.1% during the 1st quarter, Holdings Channel reports. The firm owned 70,220 shares of the network technology company’s stock after selling 24,793 shares during the period. Teacher Retirement System of Texas’ holdings in Palo Alto Networks were worth $17,055,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of PANW. Alpha Omega Wealth Management LLC acquired a new position in shares of Palo Alto Networks during the 1st quarter worth about $26,000. Financial Advocates Investment Management raised its position in shares of Palo Alto Networks by 65.2% during the 4th quarter. Financial Advocates Investment Management now owns 114 shares of the network technology company’s stock worth $43,000 after purchasing an additional 45 shares during the last quarter. C J Advisory Inc acquired a new position in shares of Palo Alto Networks during the 1st quarter worth about $30,000. Arrow Financial Corp acquired a new position in shares of Palo Alto Networks during the 1st quarter worth about $40,000. Finally, Bruderman Asset Management LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth about $38,000. 79.71% of the stock is currently owned by institutional investors.
Shares of Palo Alto Networks stock traded up $1.79 during mid-day trading on Friday, hitting $226.62. The stock had a trading volume of 17,822 shares, compared to its average volume of 969,015. Palo Alto Networks Inc has a 12-month low of $160.08 and a 12-month 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. The stock has a market cap of $20.86 billion, a price-to-earnings ratio of -411.10, a price-to-earnings-growth ratio of 9.83 and a beta of 0.84.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Tuesday, February 26th. The network technology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.20. Palo Alto Networks had a negative net margin of 3.47% and a positive return on equity of 4.69%. The business had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $682.32 million. During the same quarter in the prior year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. Equities analysts expect that Palo Alto Networks Inc will post 0.96 earnings per share for the current fiscal year.
Several research firms recently weighed in on PANW. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a research report on Wednesday, April 10th. ValuEngine cut shares of Palo Alto Networks from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. UBS Group upped their price objective on shares of Palo Alto Networks from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, February 20th. Robert W. Baird reaffirmed a “buy” rating on shares of Palo Alto Networks in a research note on Wednesday, February 27th. Finally, Deutsche Bank upped their price objective on shares of Palo Alto Networks from $265.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Palo Alto Networks currently has a consensus rating of “Buy” and an average target price of $268.75.
In related news, EVP Nir Zuk sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $234.44, for a total transaction of $7,033,200.00. Following the completion of the transaction, the executive vice president now owns 990,860 shares of the company’s stock, valued at approximately $232,297,218.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark D. Mclaughlin sold 950 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $250.05, for a total transaction of $237,547.50. Following the transaction, the director now directly owns 206,171 shares of the company’s stock, valued at approximately $51,553,058.55. The disclosure for this sale can be found here. In the last three months, insiders sold 242,844 shares of company stock valued at $58,586,545. Corporate insiders own 3.10% of the company’s stock.
Palo Alto Networks Company 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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