Vestor Capital LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,087 shares of the network technology company’s stock after buying an additional 145 shares during the period. Vestor Capital LLC’s holdings in Palo Alto Networks were worth $3,789,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. purchased a new stake in Palo Alto Networks during the fourth quarter valued at approximately $28,000. Capital Advisory Group Advisory Services LLC purchased a new stake in Palo Alto Networks during the first quarter valued at approximately $29,000. JNBA Financial Advisors raised its holdings in shares of Palo Alto Networks by 900.0% in the first quarter. JNBA Financial Advisors now owns 50 shares of the network technology company’s stock worth $31,000 after buying an additional 45 shares during the period. Tyler Stone Wealth Management purchased a new stake in shares of Palo Alto Networks in the fourth quarter worth approximately $33,000. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of Palo Alto Networks by 113.8% in the fourth quarter. Catalyst Capital Advisors LLC now owns 62 shares of the network technology company’s stock worth $35,000 after buying an additional 33 shares during the period. 84.33% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on PANW shares. Citigroup reduced their price target on Palo Alto Networks from $610.00 to $605.00 in a report on Friday, July 22nd. Mizuho reduced their price objective on Palo Alto Networks from $625.00 to $600.00 and set a “buy” rating on the stock in a report on Wednesday, May 18th. Jefferies Financial Group lowered their price objective on Palo Alto Networks to $600.00 in a research report on Tuesday, May 17th. Oppenheimer lowered their price target on Palo Alto Networks from $700.00 to $600.00 in a research report on Friday, May 20th. Finally, Wolfe Research started coverage on Palo Alto Networks in a research note on Monday, August 1st. They set an “outperform” rating and a $700.00 price objective for the company. Three research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $630.88.
Palo Alto Networks Stock Performance
Palo Alto Networks (NASDAQ:PANW – Get Rating) last released its quarterly earnings data on Thursday, May 19th. The network technology company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.21). The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.36 billion. Palo Alto Networks had a negative net margin of 7.54% and a negative return on equity of 57.50%. Palo Alto Networks’s revenue for the quarter was up 29.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.62) earnings per share. Equities research analysts expect that Palo Alto Networks, Inc. will post -0.73 EPS for the current fiscal year.
Insider Activity at Palo Alto Networks
In related news, CEO Nikesh Arora sold 3,125 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $500.52, for a total value of $1,564,125.00. Following the completion of the transaction, the chief executive officer now owns 489,791 shares in the company, valued at approximately $245,150,191.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $500.58, for a total transaction of $6,006,960.00. Following the completion of the sale, the executive vice president now owns 671,812 shares of the company’s stock, valued at approximately $336,295,650.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 3,125 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $500.52, for a total transaction of $1,564,125.00. Following the sale, the chief executive officer now directly owns 489,791 shares of the company’s stock, valued at approximately $245,150,191.32. The disclosure for this sale can be found here. Insiders sold a total of 56,170 shares of company stock worth $418,628,327 in the last quarter. 2.20% of the stock is owned by insiders.
Palo Alto Networks Profile
Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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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