Crestwood Advisors Group LLC grew its position in shares of Palo Alto Networks, Inc. (NASDAQ: PANW – Get Rating) by 437.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,641 shares of the network technology company stock after buying an additional 2,150 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Palo Alto Networks were worth $ 1,470,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of PANW. Stonebridge Financial Planning Group LLC raised its holdings in shares of Palo Alto Networks by 17.1% in the 4th quarter. Stonebridge Financial Planning Group LLC now owns 205 shares of the network technology company stock worth $ 102,000 after purchasing an additional 30 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of Palo Alto Networks by 26.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 6,004 shares of the network technology company stock worth $ 3,343,000 after purchasing an additional 1,249 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Palo Alto Networks by 13.8% in the 3rd quarter. Two Sigma Advisers LP now owns 783,602 shares of the network technology company stock worth $ 375,345,000 after purchasing an additional 94,900 shares during the period. People s United Financial Inc. raised its holdings in shares of Palo Alto Networks by 15.8% in the 4th quarter. People s United Financial Inc. now owns 573 shares of the network technology company stock worth $ 319,000 after purchasing an additional 78 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Palo Alto Networks by 5.5% in the 4th quarter. Stifel Financial Corp now owns 360,189 shares of the network technology company stock worth $ 200,538,000 after purchasing an additional 18,932 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PANW opened at $ 477.73 on Tuesday. Palo Alto Networks, Inc. has a fifty-two week low of $ 358.37 and a fifty-two week high of $ 640.90. The firm’s 50-day simple moving average is $ 539.68 and its two-hundred day simple moving average is $ 539.26.
Palo Alto Networks (NASDAQ: PANW – Get Rating) last posted its quarterly earnings results on Thursday, May 19th. The network technology company reported ($ 0.61) earnings per share for the quarter, missing the consensus estimate of ($ 0.40) by ($ 0.21). The company had revenue of $ 1.39 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 29.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($ 0.62) EPS. As a group, equities analysts predict that Palo Alto Networks, Inc. will post -0.73 earnings per share for the current year.
In other Palo Alto Networks news, EVP Lee Klarich sold 3,500 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $ 479.46, for a total transaction of $ 1,678,110.00. Following the sale, the executive vice president now directly owns 252,551 shares in the company, valued at approximately $ 121,088,102.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dipak Golechha sold 500 shares of the stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $ 525.00, for a total value of $ 262,500.00. Following the sale, the chief financial officer now owns 30,780 shares in the company, valued at $ 16,159,500. The disclosure for this sale can be found here. Insiders have sold a total of 86,732 shares of company stock worth $ 48,373,122 over the last three months. 2.20% of the stock is currently owned by insiders.
A number of equities research analysts recently commented on PANW shares. Wedbush lowered their price target on shares of Palo Alto Networks from $ 660.00 to $ 580.00 and set an “outperform” rating on the stock in a report on Friday, May 20th. Morgan Stanley boosted their target price on shares of Palo Alto Networks from $ 670.00 to $ 823.00 and gave the company an “overweight” rating in a report on Monday, April 25th. Oppenheimer lowered their target price on shares of Palo Alto Networks from $ 700.00 to $ 600.00 in a report on Friday, May 20th. Cowen reissued a “buy” rating and set a $ 620.00 target price on shares of Palo Alto Networks in a report on Friday, May 20th. Finally, JMP Securities started coverage on shares of Palo Alto Networks in a report on Tuesday, February 22nd. They set an “outperform” rating and a $ 620.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Buy” and a consensus target price of $ 628.56.
Palo Alto Networks Profile: (Get Rating)
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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