Palo Alto Networks Inc (NYSE:PANW) Stake Lifted by FNY Investment Advisers LLC

FNY Investment Advisers LLC boosted its holdings in shares of Palo Alto Networks Inc (NYSE:PANW) by 1,700.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,600 shares of the network technology company’s stock after buying an additional 3,400 shares during the quarter. FNY Investment Advisers LLC’s holdings in Palo Alto Networks were worth $874,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Cohen Klingenstein LLC bought a new stake in Palo Alto Networks during the first quarter valued at about $9,493,000. BKS Advisors LLC lifted its stake in shares of Palo Alto Networks by 18.4% in the first quarter. BKS Advisors LLC now owns 6,467 shares of the network technology company’s stock valued at $1,571,000 after buying an additional 1,007 shares during the period. Pennsylvania Trust Co lifted its stake in shares of Palo Alto Networks by 856.4% in the first quarter. Pennsylvania Trust Co now owns 14,776 shares of the network technology company’s stock valued at $545,000 after buying an additional 13,231 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of Palo Alto Networks by 389.9% in the first quarter. Flagship Harbor Advisors LLC now owns 774 shares of the network technology company’s stock valued at $187,000 after buying an additional 616 shares during the period. Finally, TIAA FSB bought a new stake in shares of Palo Alto Networks in the first quarter valued at about $4,895,000. 80.16% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently weighed in on PANW. Dougherty & Co reiterated a “buy” rating and issued a $300.00 target price (up previously from $260.00) on shares of Palo Alto Networks in a research note on Wednesday, February 27th. Oppenheimer raised their price objective on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. Morgan Stanley raised their price objective on shares of Palo Alto Networks from $266.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, February 27th. KeyCorp raised their price objective on shares of Palo Alto Networks from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, February 27th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $280.00 price objective (up previously from $235.00) on shares of Palo Alto Networks in a report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $268.75.

In other Palo Alto Networks news, CAO Jean Compeau sold 1,701 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $235.37, for a total value of $400,364.37. Following the transaction, the chief accounting officer now directly owns 23,836 shares of the company’s stock, valued at $5,610,279.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $234.11, for a total transaction of $1,053,495.00. Following the completion of the transaction, the executive vice president now directly owns 295,449 shares in the company, valued at $69,167,565.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,344 shares of company stock worth $60,271,045. Insiders own 3.10% of the company’s stock.

Shares of Palo Alto Networks stock opened at $237.83 on Friday. 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 company has a market capitalization of $22.29 billion, a P/E ratio of -432.42, a P/E/G ratio of 11.21 and a beta of 0.84. Palo Alto Networks Inc has a fifty-two week low of $160.08 and a fifty-two week high of $260.63.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Tuesday, February 26th. The network technology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $682.32 million. During the same quarter last year, the business posted $0.97 earnings per share. Palo Alto Networks’s revenue for the quarter was up 30.3% compared to the same quarter last year. Equities analysts predict that Palo Alto Networks Inc will post 0.96 earnings per share for the current fiscal year.

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About Palo Alto Networks

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

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