Cetera Advisor Networks LLC Buys 1,327 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Cetera Advisor Networks LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) by 27.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,088 shares of the network technology company’s stock after acquiring an additional 1,327 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Palo Alto Networks were worth $3,007,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Winslow Capital Management LLC purchased a new stake in shares of Palo Alto Networks in the first quarter valued at about $410,696,000. Jennison Associates LLC increased its holdings in Palo Alto Networks by 388.4% during the second quarter. Jennison Associates LLC now owns 639,039 shares of the network technology company’s stock worth $315,647,000 after buying an additional 508,194 shares during the last quarter. Cadian Capital Management LP increased its holdings in Palo Alto Networks by 75.6% during the first quarter. Cadian Capital Management LP now owns 551,653 shares of the network technology company’s stock worth $343,410,000 after buying an additional 237,500 shares during the last quarter. NN Investment Partners Holdings N.V. increased its holdings in Palo Alto Networks by 776.2% during the first quarter. NN Investment Partners Holdings N.V. now owns 205,629 shares of the network technology company’s stock worth $128,006,000 after buying an additional 182,161 shares during the last quarter. Finally, Barden Capital Management Inc. increased its holdings in Palo Alto Networks by 5,173.8% during the second quarter. Barden Capital Management Inc. now owns 168,602 shares of the network technology company’s stock worth $937,000 after buying an additional 165,405 shares during the last quarter. 86.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, Director Aparna Bawa sold 714 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $170.98, for a total transaction of $122,079.72. Following the sale, the director now owns 4,272 shares in the company, valued at approximately $730,426.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Josh D. Paul sold 735 shares of the stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $170.07, for a total value of $125,001.45. Following the transaction, the chief accounting officer now owns 33,657 shares in the company, valued at approximately $5,724,045.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Aparna Bawa sold 714 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $170.98, for a total value of $122,079.72. Following the completion of the transaction, the director now owns 4,272 shares in the company, valued at approximately $730,426.56. The disclosure for this sale can be found here. Insiders have sold a total of 189,477 shares of company stock worth $37,164,206 in the last quarter. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PANW shares. StockNews.com started coverage on shares of Palo Alto Networks in a report on Wednesday, October 12th. They set a “hold” rating for the company. Credit Suisse Group decreased their price objective on shares of Palo Alto Networks from $228.33 to $225.00 and set an “outperform” rating for the company in a report on Friday, November 18th. Cowen reiterated a “buy” rating and issued a $207.00 target price on shares of Palo Alto Networks in a research note on Friday, November 18th. Loop Capital upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and raised their price objective for the company from $183.00 to $200.00 in a research report on Thursday, November 10th. Finally, Wells Fargo & Company upped their target price on shares of Palo Alto Networks from $233.33 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. Five investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.86.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $173.10 on Friday. The stock’s 50-day moving average is $161.77 and its two-hundred day moving average is $208.62. Palo Alto Networks, Inc. has a 1-year low of $140.07 and a 1-year high of $213.63. The company has a market cap of $52.00 billion, a price-to-earnings ratio of -350.87, a price-to-earnings-growth ratio of 7.13 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANWGet Rating) last issued its quarterly earnings results on Monday, August 22nd. The network technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.08. Palo Alto Networks had a negative return on equity of 5.02% and a negative net margin of 2.46%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business earned ($0.21) EPS. Palo Alto Networks’s revenue was up 27.2% on a year-over-year basis. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 0.77 earnings per share for the current fiscal year.

About Palo Alto Networks

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer's network, as well as their instances in public or private cloud environments, 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.

See Also

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

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