Nomura Asset Management Co. Ltd. trimmed its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 28.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,810 shares of the network technology company’s stock after selling 58,300 shares during the period. Nomura Asset Management Co. Ltd. owned 0.15% of Palo Alto Networks worth $24,563,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Belpointe Asset Management LLC increased its position in shares of Palo Alto Networks by 6.7% during the fourth quarter. Belpointe Asset Management LLC now owns 2,849 shares of the network technology company’s stock valued at $659,000 after acquiring an additional 179 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $238,000. Charles Schwab Investment Management Inc. lifted its position in shares of Palo Alto Networks by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 254,365 shares of the network technology company’s stock worth $58,822,000 after buying an additional 9,306 shares during the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of Palo Alto Networks by 6.9% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,772 shares of the network technology company’s stock valued at $291,000 after acquiring an additional 115 shares during the period. Finally, Darrell & King LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter valued at $21,744,000. 77.63% of the stock is currently owned by institutional investors and hedge funds.
PANW traded down $8.34 on Thursday, reaching $224.34. 41,904 shares of the company’s stock were exchanged, compared to its average volume of 1,527,593. The company’s 50 day moving average is $217.38 and its 200-day moving average is $213.71. The company has a market cap of $22.81 billion, a price-to-earnings ratio of -96.92 and a beta of 1.18. Palo Alto Networks Inc has a twelve month low of $125.47 and a twelve month high of $251.10. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.29 and a current ratio of 1.29.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Thursday, May 21st. The network technology company reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $1.54. The firm had revenue of $869.40 million during the quarter, compared to the consensus estimate of $831.52 million. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 6.50%. The company’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. Sell-side analysts forecast that Palo Alto Networks Inc will post -0.55 EPS for the current year.
In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $194.20, for a total value of $2,330,400.00. Following the completion of the sale, the executive vice president now owns 986,875 shares of the company’s stock, valued at $191,651,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 36,000 shares of company stock valued at $7,164,480 in the last ninety days. 2.30% of the stock is owned by corporate insiders.
PANW has been the topic of several recent research reports. Morgan Stanley reissued a “buy” rating and issued a $269.00 price objective on shares of Palo Alto Networks in a research note on Friday, May 22nd. Jefferies Financial Group boosted their price objective on shares of Palo Alto Networks from $200.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. lowered shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $284.00 to $236.00 in a report on Tuesday, February 25th. SunTrust Banks upped their target price on shares of Palo Alto Networks from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Royal Bank of Canada upped their target price on shares of Palo Alto Networks from $175.00 to $225.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Eleven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Palo Alto Networks currently has an average rating of “Buy” and an average target price of $254.93.
Palo Alto Networks Company 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.
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.