SFE Investment Counsel Reduces Holdings in Palo Alto Networks, Inc. (PANW)
SFE Investment Counsel cut its holdings in Palo Alto Networks, Inc. (NYSE:PANW) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,299 shares of the network technology company’s stock after selling 2,406 shares during the quarter. Palo Alto Networks comprises about 1.8% of SFE Investment Counsel’s investment portfolio, making the stock its 20th biggest holding. SFE Investment Counsel’s holdings in Palo Alto Networks were worth $4,222,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Sun Life Financial INC increased its stake in Palo Alto Networks by 785.0% in the 2nd quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after purchasing an additional 887 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Palo Alto Networks during the 3rd quarter valued at about $162,000. Global X Management Co. LLC grew its stake in Palo Alto Networks by 24.4% during the 2nd quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock valued at $156,000 after acquiring an additional 229 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Palo Alto Networks by 495.2% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock valued at $178,000 after acquiring an additional 1,025 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in Palo Alto Networks by 30.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock valued at $188,000 after acquiring an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 76.85% of the company’s stock.
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In other news, Director Carl M. Eschenbach sold 1,572 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $144.99, for a total value of $227,924.28. Following the transaction, the director now directly owns 3,619 shares of the company’s stock, valued at approximately $524,718.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark Anderson sold 44,429 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $143.10, for a total value of $6,357,789.90. Following the completion of the transaction, the president now directly owns 176,290 shares in the company, valued at $25,227,099. The disclosure for this sale can be found here. Insiders have sold a total of 256,744 shares of company stock worth $38,093,896 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.
Shares of Palo Alto Networks, Inc. (NYSE:PANW) traded up $0.85 on Monday, hitting $147.21. The stock had a trading volume of 245,394 shares, compared to its average volume of 1,230,000. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $165.69. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.65 and a current ratio of 1.65.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.92). The firm had revenue of $509.00 million for the quarter, compared to the consensus estimate of $487.53 million. Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. equities research analysts expect that Palo Alto Networks, Inc. will post -0.49 earnings per share for the current year.
Several equities research analysts have recently issued reports on PANW shares. Dougherty & Co lifted their price target on Palo Alto Networks from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Robert W. Baird reiterated a “hold” rating and set a $149.00 price target on shares of Palo Alto Networks in a report on Thursday, September 28th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $173.00 price target on shares of Palo Alto Networks in a report on Thursday, September 28th. Zacks Investment Research lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, ValuEngine upgraded Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $160.33.
Palo Alto Networks Profile
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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