Geneva Partners LLC lifted its stake in Palo Alto Networks Inc (NYSE:PANW) by 3.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,147 shares of the network technology company’s stock after purchasing an additional 234 shares during the quarter. Palo Alto Networks comprises about 1.7% of Geneva Partners LLC’s holdings, making the stock its 24th biggest position. Geneva Partners LLC’s holdings in Palo Alto Networks were worth $1,979,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PANW. Alpha Omega Wealth Management LLC purchased a new stake in shares of Palo Alto Networks during the first quarter worth about $26,000. Manchester Capital Management LLC purchased a new stake in shares of Palo Alto Networks during the first quarter worth about $26,000. C J Advisory Inc purchased a new stake in shares of Palo Alto Networks during the first quarter worth about $30,000. Cable Hill Partners LLC grew its position in shares of Palo Alto Networks by 226.1% during the first quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock worth $37,000 after purchasing an additional 104 shares in the last quarter. Finally, Bruderman Asset Management LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth about $38,000. 80.97% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Mark D. Mclaughlin sold 42,850 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $246.78, for a total transaction of $10,574,523.00. Following the completion of the sale, the director now directly owns 208,071 shares of the company’s stock, valued at approximately $51,347,761.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jean Compeau sold 1,701 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $235.37, for a total value of $400,364.37. Following the sale, the chief accounting officer now directly owns 23,836 shares of the company’s stock, valued at $5,610,279.32. The disclosure for this sale can be found here. Insiders sold a total of 239,459 shares of company stock valued at $57,767,713 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Shares of NYSE:PANW traded down $2.96 during trading on Monday, hitting $197.18. The company had a trading volume of 12,077 shares, compared to its average volume of 1,529,882. The firm has a market capitalization of $19.21 billion, a price-to-earnings ratio of -358.98, a PEG ratio of 10.09 and a beta of 0.98. Palo Alto Networks Inc has a one year low of $160.08 and a one year high of $260.63. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.86 and a quick ratio of 1.86.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Wednesday, May 29th. The network technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). The company had revenue of $726.60 million during the quarter, compared to the consensus estimate of $704.89 million. Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. Palo Alto Networks’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. As a group, analysts expect that Palo Alto Networks Inc will post 0.85 earnings per share for the current fiscal year.

Several equities analysts have weighed in on PANW shares. ValuEngine upgraded Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. Zacks Investment Research upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $247.00 price target for the company in a report on Wednesday, February 6th. Gabelli cut Palo Alto Networks from a “buy” rating to a “hold” rating and set a $226.91 price target for the company. in a report on Wednesday, February 20th. They noted that the move was a valuation call. UBS Group raised their price target on Palo Alto Networks from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, February 20th. Finally, Robert W. Baird raised their price target on Palo Alto Networks from $250.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $263.03.

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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.

Further Reading: What is a Leveraged Buyout (LBO)?

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

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