Northern Trust Corp Increases Stake in Palo Alto Networks Inc (PANW)
Northern Trust Corp increased its holdings in Palo Alto Networks Inc (NYSE:PANW) by 0.3% in the second quarter, HoldingsChannel reports. The firm owned 1,092,883 shares of the network technology company’s stock after acquiring an additional 3,313 shares during the period. Northern Trust Corp’s holdings in Palo Alto Networks were worth $224,555,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in PANW. Summit Trail Advisors LLC raised its holdings in Palo Alto Networks by 19,903.8% during the 1st quarter. Summit Trail Advisors LLC now owns 848,163 shares of the network technology company’s stock valued at $848,000 after buying an additional 843,923 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Palo Alto Networks by 84.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,461,226 shares of the network technology company’s stock valued at $300,238,000 after buying an additional 670,016 shares during the last quarter. Bank of Montreal Can raised its holdings in Palo Alto Networks by 193.7% during the 2nd quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock valued at $112,061,000 after buying an additional 359,685 shares during the last quarter. First Trust Advisors LP raised its holdings in Palo Alto Networks by 199.8% during the 2nd quarter. First Trust Advisors LP now owns 529,520 shares of the network technology company’s stock valued at $108,800,000 after buying an additional 352,914 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in Palo Alto Networks during the 2nd quarter valued at $65,038,000. 80.61% of the stock is owned by institutional investors.
In related news, CFO Kathleen Bonanno sold 1,097 shares of the stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $208.77, for a total transaction of $229,020.69. Following the sale, the chief financial officer now directly owns 35,882 shares of the company’s stock, valued at approximately $7,491,085.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $204.84, for a total transaction of $8,193,600.00. Following the sale, the director now directly owns 333,756 shares in the company, valued at $68,366,579.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 260,468 shares of company stock valued at $56,336,885. 4.80% of the stock is owned by company insiders.
Shares of Palo Alto Networks stock opened at $229.68 on Wednesday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.42. Palo Alto Networks Inc has a 1 year low of $135.85 and a 1 year high of $239.50.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, September 6th. The network technology company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.11. The company had revenue of $658.10 million during the quarter, compared to analyst estimates of $634.14 million. Palo Alto Networks had a negative net margin of 6.51% and a negative return on equity of 4.12%. Palo Alto Networks’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. research analysts anticipate that Palo Alto Networks Inc will post 0.61 EPS for the current year.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.
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