Palo Alto Networks Inc (PANW) Shares Bought by Amalgamated Bank

Amalgamated Bank increased its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,632 shares of the network technology company’s stock after acquiring an additional 1,275 shares during the quarter. Amalgamated Bank’s holdings in Palo Alto Networks were worth $2,111,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in Palo Alto Networks by 18.4% during the 4th quarter. Renaissance Technologies LLC now owns 4,379,100 shares of the network technology company’s stock worth $634,707,000 after purchasing an additional 681,200 shares during the last quarter. Sands Capital Management LLC grew its position in Palo Alto Networks by 27.7% during the 4th quarter. Sands Capital Management LLC now owns 3,962,586 shares of the network technology company’s stock worth $574,337,000 after purchasing an additional 860,117 shares during the last quarter. Clearbridge Investments LLC grew its position in Palo Alto Networks by 5.9% during the 4th quarter. Clearbridge Investments LLC now owns 2,864,774 shares of the network technology company’s stock worth $415,220,000 after purchasing an additional 158,878 shares during the last quarter. Northern Trust Corp grew its position in Palo Alto Networks by 1.8% during the 1st quarter. Northern Trust Corp now owns 1,089,570 shares of the network technology company’s stock worth $197,778,000 after purchasing an additional 19,336 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its position in Palo Alto Networks by 19,903.8% during the 1st quarter. Summit Trail Advisors LLC now owns 848,163 shares of the network technology company’s stock worth $848,000 after purchasing an additional 843,923 shares during the last quarter. Hedge funds and other institutional investors own 80.51% of the company’s stock.

Shares of Palo Alto Networks opened at $207.59 on Monday, according to MarketBeat. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of -121.40 and a beta of 0.99. Palo Alto Networks Inc has a 12-month low of $126.56 and a 12-month high of $217.40.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Monday, June 4th. The network technology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $567.10 million during the quarter, compared to analysts’ expectations of $545.79 million. Palo Alto Networks had a negative net margin of 8.65% and a negative return on equity of 8.51%. equities analysts expect that Palo Alto Networks Inc will post -0.26 EPS for the current year.

Several research analysts have issued reports on the stock. BMO Capital Markets raised their price objective on shares of Palo Alto Networks from $220.00 to $222.00 and gave the stock a “market perform” rating in a research report on Friday, June 8th. TheStreet raised shares of Palo Alto Networks from a “d” rating to a “c-” rating in a report on Monday, June 4th. Argus lifted their target price on shares of Palo Alto Networks to $229.00 and gave the company a “buy” rating in a report on Tuesday, June 5th. Morgan Stanley lifted their target price on shares of Palo Alto Networks from $224.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, June 5th. Finally, Credit Suisse Group lifted their target price on shares of Palo Alto Networks from $150.00 to $175.00 and gave the company an “underweight” rating in a report on Tuesday, June 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirty-seven have assigned a buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and a consensus price target of $198.68.

In other news, CEO Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $179.34, for a total value of $7,173,600.00. Following the completion of the transaction, the chief executive officer now owns 296,450 shares of the company’s stock, valued at $53,165,343. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $212.85, for a total transaction of $6,385,500.00. Following the completion of the transaction, the executive vice president now directly owns 1,272,500 shares of the company’s stock, valued at approximately $270,851,625. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 73,910 shares of company stock valued at $15,307,149 and have sold 230,194 shares valued at $44,404,417. Insiders own 4.80% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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