Hartwell J M Limited Partnership trimmed its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 38.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the network technology company’s stock after selling 9,200 shares during the period. Palo Alto Networks makes up about 0.6% of Hartwell J M Limited Partnership’s holdings, making the stock its 21st largest holding. Hartwell J M Limited Partnership’s holdings in Palo Alto Networks were worth $3,379,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PANW. Canada Pension Plan Investment Board raised its stake in shares of Palo Alto Networks by 84.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,461,226 shares of the network technology company’s stock valued at $300,238,000 after acquiring an additional 670,016 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Palo Alto Networks by 193.7% in the second quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock valued at $112,061,000 after acquiring an additional 359,685 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Palo Alto Networks by 199.8% in the second quarter. First Trust Advisors LP now owns 529,520 shares of the network technology company’s stock valued at $108,800,000 after acquiring an additional 352,914 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Palo Alto Networks in the second quarter valued at $65,038,000. Finally, Criterion Capital Management LLC acquired a new stake in shares of Palo Alto Networks in the second quarter valued at $62,227,000. Institutional investors own 80.23% of the company’s stock.
Shares of PANW stock traded down $6.44 during mid-day trading on Monday, hitting $178.97. 91,443 shares of the stock were exchanged, compared to its average volume of 1,479,649. The firm has a market cap of $17.49 billion, a price-to-earnings ratio of -325.44, a PEG ratio of 13.02 and a beta of 0.88. Palo Alto Networks Inc has a 12-month low of $135.85 and a 12-month high of $239.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.93 and a current ratio of 1.93.
In other Palo Alto Networks news, CFO Kathleen Bonanno sold 467 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $213.03, for a total transaction of $99,485.01. Following the transaction, the chief financial officer now owns 34,954 shares of the company’s stock, valued at $7,446,250.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $214.08, for a total value of $856,320.00. Following the transaction, the executive vice president now directly owns 384,522 shares in the company, valued at approximately $82,318,469.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 289,178 shares of company stock worth $64,093,741. Corporate insiders own 3.10% of the company’s stock.
Several brokerages have recently issued reports on PANW. ValuEngine upgraded Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. UBS Group upgraded Palo Alto Networks to a “neutral” rating in a research note on Wednesday, October 3rd. Oppenheimer increased their price objective on Palo Alto Networks from $235.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, September 7th. Zacks Investment Research cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Finally, Robert W. Baird reiterated an “outperform” rating on shares of Palo Alto Networks in a research note on Thursday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $240.94.
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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