CWM Advisors LLC increased its position in Palo Alto Networks Inc (NYSE:PANW) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,058 shares of the network technology company’s stock after purchasing an additional 125 shares during the quarter. CWM Advisors LLC’s holdings in Palo Alto Networks were worth $476,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Resources Management Corp CT ADV acquired a new position in shares of Palo Alto Networks in the 3rd quarter valued at $25,000. Capital Investment Advisory Services LLC increased its holdings in Palo Alto Networks by 322.6% in the third quarter. Capital Investment Advisory Services LLC now owns 131 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Palo Alto Networks in the second quarter valued at about $30,000. Glassman Wealth Services lifted its stake in Palo Alto Networks by 347.2% in the third quarter. Glassman Wealth Services now owns 161 shares of the network technology company’s stock valued at $33,000 after buying an additional 125 shares during the period. Finally, CSat Investment Advisory L.P. acquired a new position in Palo Alto Networks in the second quarter valued at about $33,000. 79.10% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Kathleen Bonanno sold 2,062 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $244.00, for a total value of $503,128.00. Following the completion of the transaction, the chief financial officer now owns 41,570 shares of the company’s stock, valued at $10,143,080. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Nikesh Arora bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average cost of $221.54 per share, with a total value of $5,538,500.00. Following the transaction, the chief executive officer now owns 479,429 shares of the company’s stock, valued at approximately $106,212,700.66. The disclosure for this purchase can be found here. Insiders sold a total of 39,512 shares of company stock worth $9,173,199 in the last 90 days. Company insiders own 2.30% of the company’s stock.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Monday, November 25th. The network technology company reported $1.05 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $1.22. The company had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $769.34 million. Palo Alto Networks had a positive return on equity of 2.43% and a negative net margin of 3.42%. Palo Alto Networks’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. Sell-side analysts anticipate that Palo Alto Networks Inc will post -0.12 earnings per share for the current fiscal year.
PANW has been the subject of several analyst reports. Piper Jaffray Companies assumed coverage on Palo Alto Networks in a research report on Friday, November 8th. They set a “neutral” rating and a $270.00 target price for the company. Zacks Investment Research downgraded shares of Palo Alto Networks from a “hold” rating to a “strong sell” rating and set a $233.00 price target on the stock. in a research report on Friday, November 29th. ValuEngine lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Rosenblatt Securities restated a “hold” rating and set a $220.00 price objective on shares of Palo Alto Networks in a report on Tuesday, November 26th. Finally, BMO Capital Markets upped their target price on shares of Palo Alto Networks from $245.00 to $248.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $265.45.
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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