Schwab Charles Investment Management Inc. increased its holdings in shares of Palo Alto Networks Inc (NYSE:PANW) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,167 shares of the network technology company’s stock after purchasing an additional 7,673 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.18% of Palo Alto Networks worth $24,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of PANW. Penserra Capital Management LLC purchased a new position in shares of Palo Alto Networks during the third quarter worth $162,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Palo Alto Networks by 495.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after purchasing an additional 1,025 shares during the last quarter. Shelton Capital Management purchased a new position in shares of Palo Alto Networks during the second quarter worth $201,000. Commerce Bank purchased a new position in shares of Palo Alto Networks during the third quarter worth $221,000. Finally, Norway Savings Bank purchased a new position in shares of Palo Alto Networks during the third quarter worth $230,000. 79.18% of the stock is owned by hedge funds and other institutional investors.
Palo Alto Networks Inc (PANW) opened at $162.08 on Friday. The firm has a market cap of $14,890.00, a PE ratio of -65.89 and a beta of 1.04. Palo Alto Networks Inc has a 52-week low of $107.31 and a 52-week high of $163.88.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 11.97% and a negative return on equity of 15.77%. Palo Alto Networks’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. research analysts forecast that Palo Alto Networks Inc will post -0.37 EPS for the current fiscal year.
In related news, EVP Nir Zuk sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $158.82, for a total transaction of $4,764,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Mark Anderson sold 15,614 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $144.16, for a total transaction of $2,250,914.24. Following the transaction, the president now owns 186,413 shares in the company, valued at $26,873,298.08. The disclosure for this sale can be found here. Insiders have sold 396,644 shares of company stock worth $59,381,588 over the last 90 days. 4.80% of the stock is currently owned by company insiders.
Several research analysts recently issued reports on the stock. OTR Global raised shares of Palo Alto Networks to a “positive” rating in a report on Friday. Evercore ISI set a $180.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a report on Wednesday. KeyCorp raised their target price on shares of Palo Alto Networks from $170.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. Zacks Investment Research cut shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, Deutsche Bank upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirty-four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $167.39.
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Palo Alto Networks Company Profile
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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