Fort Sheridan Advisors LLC Increases Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fort Sheridan Advisors LLC boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) by 8.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,154 shares of the network technology company’s stock after purchasing an additional 91 shares during the period. Fort Sheridan Advisors LLC’s holdings in Palo Alto Networks were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PANW. North Star Investment Management Corp. purchased a new position in shares of Palo Alto Networks in the 4th quarter valued at approximately $28,000. Capital Advisory Group Advisory Services LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $29,000. JNBA Financial Advisors lifted its holdings in shares of Palo Alto Networks by 900.0% in the 1st quarter. JNBA Financial Advisors now owns 50 shares of the network technology company’s stock valued at $31,000 after buying an additional 45 shares during the period. Tyler Stone Wealth Management acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $33,000. Finally, Catalyst Capital Advisors LLC lifted its holdings in shares of Palo Alto Networks by 113.8% in the 4th quarter. Catalyst Capital Advisors LLC now owns 62 shares of the network technology company’s stock valued at $35,000 after buying an additional 33 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $501.37 on Friday. Palo Alto Networks, Inc. has a one year low of $358.37 and a one year high of $640.90. The company’s fifty day moving average price is $502.07 and its two-hundred day moving average price is $530.35.

Palo Alto Networks (NASDAQ:PANWGet Rating) last posted its earnings results on Thursday, May 19th. The network technology company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.21). The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.36 billion. Palo Alto Networks had a negative return on equity of 57.50% and a negative net margin of 7.54%. The company’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.62) earnings per share. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

PANW has been the subject of several recent analyst reports. Cowen reissued a “buy” rating and issued a $620.00 price target on shares of Palo Alto Networks in a report on Friday, May 20th. Wells Fargo & Company reissued a “buy” rating and issued a $700.00 price target on shares of Palo Alto Networks in a report on Friday, May 20th. UBS Group boosted their price target on Palo Alto Networks to $545.00 in a report on Friday, May 20th. Wolfe Research assumed coverage on Palo Alto Networks in a report on Monday, August 1st. They issued an “outperform” rating and a $700.00 price target for the company. Finally, Wedbush cut their price target on Palo Alto Networks from $660.00 to $580.00 and set an “outperform” rating for the company in a report on Friday, May 20th. Three research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $630.88.

Insider Activity

In other news, Director Aparna Bawa sold 951 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $501.56, for a total value of $476,983.56. Following the sale, the director now directly owns 1,899 shares of the company’s stock, valued at $952,462.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Aparna Bawa sold 951 shares of Palo Alto Networks stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $501.56, for a total transaction of $476,983.56. Following the sale, the director now directly owns 1,899 shares of the company’s stock, valued at $952,462.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Dipak Golechha sold 500 shares of Palo Alto Networks stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $525.00, for a total value of $262,500.00. Following the sale, the chief financial officer now directly owns 30,780 shares in the company, valued at $16,159,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,170 shares of company stock valued at $418,628,327. 2.20% of the stock is owned by insiders.

Palo Alto Networks Profile

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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.

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

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