IPG Investment Advisors LLC bought a new stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,955 shares of the network technology company’s stock, valued at approximately $262,000.
A number of other hedge funds have also made changes to their positions in PANW. WFG Advisors LP boosted its position in shares of Palo Alto Networks by 5.9% in the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock worth $101,000 after buying an additional 50 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Palo Alto Networks by 31.9% in the first quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock worth $106,000 after buying an additional 227 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in shares of Palo Alto Networks during the first quarter worth about $120,000. First Interstate Bank boosted its position in shares of Palo Alto Networks by 130.7% in the first quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock worth $155,000 after buying an additional 779 shares during the last quarter. Finally, OLD National Bancorp IN acquired a new stake in Palo Alto Networks during the second quarter worth $201,000. Hedge funds and other institutional investors own 80.25% of the company’s stock.
Shares of Palo Alto Networks, Inc. (PANW) traded down 0.22% during trading on Friday, hitting $130.27. 743,963 shares of the company were exchanged. Palo Alto Networks, Inc. has a 12 month low of $107.31 and a 12 month high of $165.69. The firm’s 50-day moving average price is $134.58 and its 200 day moving average price is $127.85. The firm’s market capitalization is $11.96 billion.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.06. The firm had revenue of $431.80 million for the quarter, compared to analysts’ expectations of $412.11 million. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The company’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. On average, equities research analysts expect that Palo Alto Networks, Inc. will post $2.59 earnings per share for the current fiscal year.
PANW has been the subject of several research reports. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $173.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 23rd. Cowen and Company restated an “outperform” rating and issued a $165.00 price target (up from $150.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. Deutsche Bank AG restated a “hold” rating and issued a $135.00 price target (up from $125.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. Susquehanna Bancshares Inc assumed coverage on Palo Alto Networks in a research report on Wednesday, June 7th. They issued a “neutral” rating and a $145.00 price target on the stock. Finally, Robert W. Baird reiterated a “hold” rating and set a $145.00 target price (up from $130.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. Palo Alto Networks currently has a consensus rating of “Buy” and an average price target of $150.94.
In other news, Director James J. Goetz sold 30,000 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the transaction, the director now owns 271,645 shares of the company’s stock, valued at approximately $37,478,860.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.80% of the company’s stock.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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