Denver Investment Advisors LLC Purchases 2,316 Shares of Palo Alto Networks, Inc. (PANW)
Denver Investment Advisors LLC boosted its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 2.6% during the second quarter, Holdings Channel reports. The firm owned 92,120 shares of the network technology company’s stock after buying an additional 2,316 shares during the period. Denver Investment Advisors LLC’s holdings in Palo Alto Networks were worth $12,327,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Palo Alto Networks by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,007,233 shares of the network technology company’s stock valued at $789,575,000 after buying an additional 263,433 shares during the period. Renaissance Technologies LLC increased its stake in Palo Alto Networks by 16.7% in the first quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock valued at $242,578,000 after buying an additional 307,800 shares during the period. Clearbridge Investments LLC increased its stake in Palo Alto Networks by 11.3% in the first quarter. Clearbridge Investments LLC now owns 1,888,116 shares of the network technology company’s stock valued at $212,753,000 after buying an additional 191,475 shares during the period. CI Global Investments Inc. increased its stake in Palo Alto Networks by 17.4% in the first quarter. CI Global Investments Inc. now owns 1,580,240 shares of the network technology company’s stock valued at $178,061,000 after buying an additional 234,623 shares during the period. Finally, Harbour Capital Advisors LLC increased its stake in Palo Alto Networks by 13,115.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock valued at $8,760,000 after buying an additional 1,163,306 shares during the period. 80.25% of the stock is currently owned by institutional investors.
Palo Alto Networks, Inc. (NYSE:PANW) opened at 131.43 on Wednesday. The stock has a 50 day moving average price of $134.92 and a 200-day moving average price of $127.90. The stock’s market cap is $12.07 billion. Palo Alto Networks, Inc. has a 52 week low of $107.31 and a 52 week high of $165.69.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.06. The company had revenue of $431.80 million during the quarter, compared to the consensus estimate of $412.11 million. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post $2.59 EPS for the current fiscal year.
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PANW has been the topic of several recent research reports. Vetr downgraded Palo Alto Networks from a “strong-buy” rating to a “hold” rating and set a $137.50 price objective on the stock. in a report on Thursday, June 1st. BMO Capital Markets cut their price objective on Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating on the stock in a report on Friday, April 21st. BidaskClub downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. BTIG Research reissued a “buy” rating and set a $155.00 price objective on shares of Palo Alto Networks in a report on Thursday, June 1st. Finally, Cowen and Company reissued an “outperform” rating and set a $165.00 price objective (up previously from $150.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-seven have assigned a buy rating to the stock. Palo Alto Networks currently has an average rating of “Buy” and a consensus price target of $150.94.
In related news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the completion of the sale, the director now owns 271,645 shares of the company’s stock, valued at $37,478,860.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.
About Palo Alto Networks
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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