Palo Alto Networks Inc (PANW) Holdings Raised by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its position in Palo Alto Networks Inc (NYSE:PANW) by 11.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,850 shares of the network technology company’s stock after acquiring an additional 4,630 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Palo Alto Networks were worth $11,136,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. CIBC Asset Management Inc raised its holdings in shares of Palo Alto Networks by 37.1% during the first quarter. CIBC Asset Management Inc now owns 8,078 shares of the network technology company’s stock valued at $1,962,000 after purchasing an additional 2,188 shares during the last quarter. SlateStone Wealth LLC purchased a new position in shares of Palo Alto Networks during the first quarter valued at approximately $919,000. Toronto Dominion Bank raised its holdings in shares of Palo Alto Networks by 36.6% during the first quarter. Toronto Dominion Bank now owns 17,085 shares of the network technology company’s stock valued at $4,149,000 after purchasing an additional 4,577 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Palo Alto Networks by 3.2% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 16,285 shares of the network technology company’s stock valued at $3,955,000 after purchasing an additional 500 shares during the last quarter. Finally, First Mercantile Trust Co. raised its holdings in shares of Palo Alto Networks by 408.9% during the first quarter. First Mercantile Trust Co. now owns 3,150 shares of the network technology company’s stock valued at $765,000 after purchasing an additional 2,531 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Wednesday, April 10th. ValuEngine cut shares of Palo Alto Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. UBS Group boosted their target price on shares of Palo Alto Networks from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, February 20th. Robert W. Baird restated a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, February 27th. Finally, Deutsche Bank boosted their target price on shares of Palo Alto Networks from $265.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $268.75.

Shares of NYSE:PANW opened at $225.62 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.87 and a quick ratio of 1.87. Palo Alto Networks Inc has a fifty-two week low of $160.08 and a fifty-two week high of $260.63. The firm has a market cap of $21.15 billion, a P/E ratio of -410.22, a P/E/G ratio of 10.09 and a beta of 0.84.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Tuesday, February 26th. The network technology company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $711.00 million during the quarter, compared to analyst estimates of $682.32 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. Palo Alto Networks’s revenue for the quarter was up 30.3% on a year-over-year basis. Research analysts anticipate that Palo Alto Networks Inc will post 0.96 earnings per share for the current year.

In related news, EVP Lee Klarich sold 4,500 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 295,449 shares of the company’s stock, valued at $69,167,565.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark D. Mclaughlin sold 42,850 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $246.78, for a total transaction of $10,574,523.00. Following the sale, the director now directly owns 208,071 shares in the company, valued at approximately $51,347,761.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242,844 shares of company stock valued at $58,586,545. 3.10% of the stock is owned by company insiders.

ILLEGAL ACTIVITY NOTICE: “Palo Alto Networks Inc (PANW) Holdings Raised by Raymond James Financial Services Advisors Inc.” was first reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/05/20/palo-alto-networks-inc-panw-holdings-raised-by-raymond-james-financial-services-advisors-inc.html.

Palo Alto Networks 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.

Read More: What is a put option?

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks Inc (NYSE:PANW).

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

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.