RMR Wealth Builders Purchases Shares of 82 Palo Alto Networks, Inc. (NYSE:PANW)

RMR Wealth Builders purchased a new stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 82 shares of the network technology company’s stock, valued at approximately $242,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. ProShare Advisors LLC lifted its position in shares of Palo Alto Networks by 6.4% during the fourth quarter. ProShare Advisors LLC now owns 4,565 shares of the network technology company’s stock valued at $1,622,000 after buying an additional 274 shares during the last quarter. Philadelphia Trust Co. lifted its position in shares of Palo Alto Networks by 495.7% during the fourth quarter. Philadelphia Trust Co. now owns 29,785 shares of the network technology company’s stock valued at $10,585,000 after buying an additional 24,785 shares during the last quarter. CIBC World Markets Inc. lifted its position in shares of Palo Alto Networks by 3.9% during the fourth quarter. CIBC World Markets Inc. now owns 15,463 shares of the network technology company’s stock valued at $5,495,000 after buying an additional 579 shares during the last quarter. FDx Advisors Inc. lifted its position in shares of Palo Alto Networks by 7.0% during the fourth quarter. FDx Advisors Inc. now owns 1,612 shares of the network technology company’s stock valued at $573,000 after buying an additional 106 shares during the last quarter. Finally, Mogy Joel R Investment Counsel Inc. lifted its position in shares of Palo Alto Networks by 1.4% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 32,172 shares of the network technology company’s stock valued at $11,434,000 after buying an additional 440 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Lee Klarich sold 2,539 shares of the stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $393.42, for a total transaction of $998,893.38. Following the transaction, the executive vice president now owns 299,777 shares in the company, valued at approximately $117,938,267.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jean Compeau sold 900 shares of the stock in a transaction that occurred on Tuesday, January 5th. The shares were sold at an average price of $347.37, for a total value of $312,633.00. Following the transaction, the chief accounting officer now owns 23,266 shares in the company, valued at approximately $8,081,910.42. The disclosure for this sale can be found here. Insiders have sold a total of 209,195 shares of company stock worth $68,692,035 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Several analysts have commented on the stock. Oppenheimer reissued an “outperform” rating and set a $305.00 price target on shares of Palo Alto Networks in a research report on Thursday, February 11th. BTIG Research upped their price objective on shares of Palo Alto Networks from $419.00 to $460.00 and gave the company a “buy” rating in a report on Monday, February 8th. Robert W. Baird upped their price objective on shares of Palo Alto Networks from $295.00 to $320.00 and gave the company an “outperform” rating in a report on Tuesday, November 17th. Royal Bank of Canada upped their price objective on shares of Palo Alto Networks from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, February 17th. Finally, Zacks Investment Research upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating and set a $237.00 price objective on the stock in a report on Tuesday, November 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $357.79.

Shares of NYSE PANW opened at $384.35 on Tuesday. The stock has a market capitalization of $36.72 billion, a price-to-earnings ratio of -123.98 and a beta of 1.50. Palo Alto Networks, Inc. has a 12 month low of $125.47 and a 12 month high of $403.00. The firm’s 50 day simple moving average is $372.13 and its 200-day simple moving average is $296.77. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.63 and a quick ratio of 1.63.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Sunday, February 21st. The network technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.12. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $985.90 million. Palo Alto Networks had a negative net margin of 8.36% and a negative return on equity of 8.66%. The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the company earned $1.19 EPS. Analysts anticipate that Palo Alto Networks, Inc. will post -1.69 earnings per share for the current fiscal year.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software 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.

Further Reading: SEC Filing

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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