Fiduciary Trust Co. Grows Holdings in Palo Alto Networks Inc (PANW)

Fiduciary Trust Co. boosted its holdings in shares of Palo Alto Networks Inc (NYSE:PANW) by 3.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 3,060 shares of the network technology company’s stock after buying an additional 91 shares during the period. Fiduciary Trust Co.’s holdings in Palo Alto Networks were worth $743,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. 361 Capital LLC lifted its holdings in Palo Alto Networks by 308.7% during the 1st quarter. 361 Capital LLC now owns 7,136 shares of the network technology company’s stock worth $1,733,000 after buying an additional 5,390 shares in the last quarter. Thornburg Investment Management Inc. acquired a new stake in Palo Alto Networks during the 1st quarter worth approximately $180,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Palo Alto Networks during the 1st quarter worth approximately $777,000. Miracle Mile Advisors LLC acquired a new stake in Palo Alto Networks during the 1st quarter worth approximately $691,000. Finally, Motley Fool Asset Management LLC lifted its holdings in Palo Alto Networks by 15.4% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,468 shares of the network technology company’s stock worth $357,000 after buying an additional 196 shares in the last quarter. Institutional investors own 79.71% of the company’s stock.

In other Palo Alto Networks news, EVP Lee Klarich sold 4,500 shares of the firm’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 transaction, the executive vice president now directly owns 295,449 shares of the company’s stock, valued at approximately $69,167,565.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark D. Mclaughlin sold 950 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $250.05, for a total transaction of $237,547.50. Following the transaction, the director now directly owns 206,171 shares in the company, valued at $51,553,058.55. The disclosure for this sale can be found here. Insiders sold a total of 242,844 shares of company stock worth $58,586,545 over the last ninety days. Insiders own 3.10% of the company’s stock.

NYSE PANW opened at $223.69 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $21.15 billion, a P/E ratio of -406.71, a P/E/G ratio of 10.09 and a beta of 0.84. Palo Alto Networks Inc has a 12 month low of $160.08 and a 12 month high of $260.63.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Tuesday, February 26th. The network technology company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.20. The firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $682.32 million. Palo Alto Networks had a negative net margin of 3.47% and a positive return on equity of 4.69%. The company’s revenue was up 30.3% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. On average, research analysts forecast that Palo Alto Networks Inc will post 0.96 EPS for the current fiscal year.

PANW has been the topic of a number of research reports. Zacks Investment Research lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Monday, January 21st. BMO Capital Markets raised shares of Palo Alto Networks from a “market perform” rating to an “outperform” rating and set a $240.00 price objective on the stock in a research report on Tuesday, January 22nd. They noted that the move was a valuation call. UBS Group raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a research report on Tuesday, January 22nd. Wedbush raised shares of Palo Alto Networks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $225.00 to $265.00 in a research report on Thursday, January 24th. Finally, ValuEngine raised shares of Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Palo Alto Networks currently has a consensus rating of “Buy” and an average target price of $268.75.

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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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