Palo Alto Networks, Inc. (PANW) Shares Bought by Flinton Capital Management LLC
Flinton Capital Management LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,712 shares of the network technology company’s stock after purchasing an additional 640 shares during the period. Flinton Capital Management LLC’s holdings in Palo Alto Networks were worth $1,300,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Fred Alger Management Inc. boosted its holdings in Palo Alto Networks by 268,050.0% in the second quarter. Fred Alger Management Inc. now owns 10,726 shares of the network technology company’s stock worth $1,435,000 after acquiring an additional 10,722 shares in the last quarter. City Financial Investment Co Ltd bought a new position in Palo Alto Networks in the second quarter worth approximately $3,613,000. QCM Cayman Ltd. bought a new position in Palo Alto Networks in the second quarter worth approximately $374,000. Sun Life Financial INC boosted its holdings in Palo Alto Networks by 785.0% in the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after acquiring an additional 887 shares in the last quarter. Finally, Institute for Wealth Management LLC. bought a new position in Palo Alto Networks in the second quarter worth approximately $316,000. Institutional investors own 77.03% of the company’s stock.
Shares of Palo Alto Networks, Inc. (NYSE PANW) opened at 147.37 on Friday. The company’s market cap is $13.53 billion. Palo Alto Networks, Inc. has a 1-year low of $107.31 and a 1-year high of $165.69. The company’s 50-day moving average price is $139.66 and its 200 day moving average price is $128.44.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The business had revenue of $509.00 million during the quarter, compared to analysts’ expectations of $487.53 million. During the same quarter in the previous year, the company posted $0.50 EPS. The company’s quarterly revenue was up 27.0% on a year-over-year basis. On average, analysts predict that Palo Alto Networks, Inc. will post $3.33 earnings per share for the current fiscal year.
Several brokerages have issued reports on PANW. Evercore ISI reiterated an “in-line” rating and issued a $145.00 price target (up previously from $140.00) on shares of Palo Alto Networks in a report on Friday, September 1st. UBS AG reiterated a “neutral” rating and issued a $146.00 price target (up previously from $140.00) on shares of Palo Alto Networks in a report on Friday, September 1st. Vetr upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $140.90 price target on the stock in a report on Monday, July 3rd. Wells Fargo & Company reiterated an “outperform” rating and issued a $185.00 price target (up previously from $180.00) on shares of Palo Alto Networks in a report on Friday, September 1st. Finally, Maxim Group reiterated a “buy” rating and issued a $195.00 price target (up previously from $168.00) on shares of Palo Alto Networks in a report on Thursday, September 28th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $159.60.
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In other Palo Alto Networks news, Director Carl M. Eschenbach sold 1,572 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $144.99, for a total value of $227,924.28. Following the completion of the sale, the director now owns 3,619 shares in the company, valued at approximately $524,718.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nir Zuk sold 2,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $144.76, for a total value of $289,520.00. The disclosure for this sale can be found here. Insiders sold a total of 80,001 shares of company stock valued at $11,304,354 in the last quarter. 4.80% of the stock is currently 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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