Fox Run Management L.L.C. acquired a new position in Palo Alto Networks Inc (NYSE:PANW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,003 shares of the network technology company’s stock, valued at approximately $725,000.
Several other large investors have also recently made changes to their positions in the company. Valicenti Advisory Services Inc. purchased a new position in shares of Palo Alto Networks in the fourth quarter worth about $1,554,000. Schwab Charles Investment Management Inc. raised its stake in shares of Palo Alto Networks by 4.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 169,167 shares of the network technology company’s stock worth $24,520,000 after purchasing an additional 7,673 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Palo Alto Networks by 202.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,732 shares of the network technology company’s stock worth $541,000 after purchasing an additional 2,500 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in shares of Palo Alto Networks by 45.8% in the fourth quarter. Koshinski Asset Management Inc. now owns 3,578 shares of the network technology company’s stock worth $519,000 after purchasing an additional 1,124 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Palo Alto Networks by 14.1% in the fourth quarter. Creative Planning now owns 5,659 shares of the network technology company’s stock worth $820,000 after purchasing an additional 699 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research note on Tuesday, November 28th. Jefferies Group reiterated a “buy” rating and set a $183.00 price target (up from $168.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Piper Jaffray Companies reiterated an “overweight” rating and set a $173.00 price target (up from $155.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Royal Bank of Canada lifted their price target on Palo Alto Networks from $159.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, November 21st. Finally, Maxim Group reiterated a “buy” rating and set a $195.00 price target (up from $168.00) on shares of Palo Alto Networks in a research report on Thursday, September 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and thirty-three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $165.74.
Shares of Palo Alto Networks Inc (PANW) opened at $157.22 on Friday. The stock has a market capitalization of $14,450.00, a P/E ratio of -63.91 and a beta of 0.99. Palo Alto Networks Inc has a 12 month low of $107.31 and a 12 month high of $158.78.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. The firm had revenue of $505.50 million for the quarter, compared to analyst estimates of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The business’s revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. research analysts predict that Palo Alto Networks Inc will post -0.37 EPS for the current fiscal year.
In other Palo Alto Networks news, insider Nir Zuk sold 28,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $148.05, for a total transaction of $4,145,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Mark Anderson sold 15,614 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $144.16, for a total value of $2,250,914.24. Following the transaction, the president now directly owns 186,413 shares in the company, valued at approximately $26,873,298.08. The disclosure for this sale can be found here. Insiders have sold 354,644 shares of company stock worth $52,415,318 in the last three months. 4.80% of the stock is currently owned by corporate insiders.
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About Palo Alto Networks
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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