Landsberg Bennett & Dubbaneh LLC lowered its stake in Palo Alto Networks Inc (NYSE:PANW) by 1.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,112 shares of the network technology company’s stock after selling 74 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in Palo Alto Networks were worth $1,035,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Clarus Wealth Advisors acquired a new stake in Palo Alto Networks in the 3rd quarter valued at $204,000. Rockland Trust Co. acquired a new stake in Palo Alto Networks in the 3rd quarter valued at $211,000. Juncture Wealth Strategies LLC grew its stake in Palo Alto Networks by 2.9% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,207 shares of the network technology company’s stock valued at $450,000 after acquiring an additional 63 shares during the period. Altfest L J & Co. Inc. acquired a new stake in Palo Alto Networks during the 3rd quarter worth $259,000. Finally, Perpetual Ltd acquired a new stake in Palo Alto Networks during the 3rd quarter worth $978,000. 78.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PANW stock traded up $1.12 on Friday, hitting $210.42. 1,115,135 shares of the stock traded hands, compared to its average volume of 1,204,584. The stock has a market capitalization of $20.07 billion, a PE ratio of 334.00 and a beta of 0.99. Palo Alto Networks Inc has a twelve month low of $160.08 and a twelve month high of $260.63. The firm’s 50-day moving average price is $206.97 and its two-hundred day moving average price is $218.55. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.78 and a current ratio of 1.78.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Wednesday, September 4th. The network technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.08). The company had revenue of $805.80 million during the quarter, compared to analysts’ expectations of $803.56 million. Palo Alto Networks had a negative net margin of 2.82% and a positive return on equity of 4.82%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 earnings per share. On average, equities research analysts anticipate that Palo Alto Networks Inc will post -0.05 EPS for the current fiscal year.
Several equities research analysts have issued reports on PANW shares. ValuEngine raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Morgan Stanley set a $290.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Maxim Group lifted their target price on shares of Palo Alto Networks from $304.00 to $316.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Rosenblatt Securities started coverage on shares of Palo Alto Networks in a research note on Monday, September 9th. They set a “hold” rating and a $220.00 target price on the stock. Finally, Bank of America lowered their target price on shares of Palo Alto Networks from $307.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $260.74.
In related news, EVP Rene Bonvanie sold 9,611 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $220.00, for a total value of $2,114,420.00. Following the sale, the executive vice president now directly owns 32,082 shares in the company, valued at approximately $7,058,040. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kathleen Bonanno sold 1,609 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $224.00, for a total transaction of $360,416.00. Following the completion of the sale, the chief financial officer now owns 28,572 shares in the company, valued at $6,400,128. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,220 shares of company stock worth $27,600,676. 3.10% of the stock is owned by insiders.
Palo Alto Networks Profile
Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network 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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