Sawtooth Solutions LLC Acquires 776 Shares of Palo Alto Networks Inc (NYSE:PANW)

Sawtooth Solutions LLC boosted its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 44.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,533 shares of the network technology company’s stock after acquiring an additional 776 shares during the period. Sawtooth Solutions LLC’s holdings in Palo Alto Networks were worth $615,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Palo Alto Networks during the fourth quarter valued at approximately $163,001,000. FMR LLC lifted its position in Palo Alto Networks by 424.2% during the fourth quarter. FMR LLC now owns 326,709 shares of the network technology company’s stock valued at $61,536,000 after purchasing an additional 264,384 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in Palo Alto Networks during the fourth quarter valued at approximately $44,262,000. BlackRock Inc. lifted its position in Palo Alto Networks by 4.3% during the first quarter. BlackRock Inc. now owns 5,453,457 shares of the network technology company’s stock valued at $1,324,534,000 after purchasing an additional 224,298 shares during the last quarter. Finally, MUFG Securities EMEA plc lifted its position in Palo Alto Networks by 3,470.5% during the fourth quarter. MUFG Securities EMEA plc now owns 203,449 shares of the network technology company’s stock valued at $38,320,000 after purchasing an additional 197,751 shares during the last quarter. 79.04% of the stock is owned by institutional investors.

NYSE:PANW traded down $1.13 during midday trading on Friday, reaching $203.76. 1,049,951 shares of the stock traded hands, compared to its average volume of 1,443,654. The business has a fifty day moving average of $210.51. Palo Alto Networks Inc has a 12 month low of $160.08 and a 12 month high of $260.63. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $19.66 billion, a PE ratio of -370.47, a P/E/G ratio of 10.06 and a beta of 0.98.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Wednesday, May 29th. The network technology company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.06). Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. The firm had revenue of $726.60 million for the quarter, compared to the consensus estimate of $704.89 million. During the same quarter in the prior year, the company earned $0.99 earnings per share. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. As a group, analysts forecast that Palo Alto Networks Inc will post 0.87 EPS for the current fiscal year.

Several equities research analysts have issued reports on PANW shares. Zacks Investment Research lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Raymond James lowered their price objective on shares of Palo Alto Networks from $270.00 to $260.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Mizuho started coverage on shares of Palo Alto Networks in a report on Tuesday, March 26th. They issued a “buy” rating and a $285.00 price objective for the company. Deutsche Bank lowered their price objective on shares of Palo Alto Networks from $305.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Finally, Cowen started coverage on shares of Palo Alto Networks in a report on Thursday, May 23rd. They issued a “market perform” rating and a $230.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Palo Alto Networks currently has an average rating of “Buy” and an average price target of $263.03.

In other Palo Alto Networks news, CFO Kathleen Bonanno sold 7,210 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $200.00, for a total transaction of $1,442,000.00. Following the transaction, the chief financial officer now directly owns 31,796 shares of the company’s stock, valued at approximately $6,359,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 7,662 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $201.29, for a total transaction of $1,542,283.98. Following the transaction, the executive vice president now directly owns 289,849 shares in the company, valued at $58,343,705.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,930 shares of company stock worth $50,830,700. Insiders own 3.10% of the company’s stock.

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

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