AlphaCrest Capital Management LLC acquired a new stake in shares of Palo Alto Networks Inc (NYSE:PANW) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,159 shares of the network technology company’s stock, valued at approximately $767,000.
Several other institutional investors have also recently made changes to their positions in the company. Alpha Omega Wealth Management LLC purchased a new stake in Palo Alto Networks in the first quarter worth $26,000. Manchester Capital Management LLC purchased a new position in Palo Alto Networks during the first quarter valued at $26,000. Financial Advocates Investment Management lifted its position in Palo Alto Networks by 65.2% during the fourth quarter. Financial Advocates Investment Management now owns 114 shares of the network technology company’s stock valued at $43,000 after buying an additional 45 shares during the period. C J Advisory Inc purchased a new position in Palo Alto Networks during the first quarter valued at $30,000. Finally, Cable Hill Partners LLC lifted its position in Palo Alto Networks by 226.1% during the first quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock valued at $37,000 after buying an additional 104 shares during the period. 79.04% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on PANW shares. Deutsche Bank reduced their price target on Palo Alto Networks from $305.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Zacks Investment Research upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $278.00 price target for the company in a report on Tuesday, April 16th. Mizuho started coverage on Palo Alto Networks in a report on Tuesday, March 26th. They set a “buy” rating and a $285.00 price target for the company. JMP Securities reduced their price target on Palo Alto Networks from $270.00 to $250.00 and set a “market outperform” rating for the company in a report on Thursday, May 30th. Finally, ValuEngine downgraded Palo Alto Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Palo Alto Networks presently has a consensus rating of “Buy” and a consensus price target of $263.03.
Shares of NYSE PANW traded down $1.13 during mid-day trading on Friday, reaching $203.76. 1,049,951 shares of the company were exchanged, compared to its average volume of 1,443,654. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $19.56 billion, a PE ratio of -370.47, a price-to-earnings-growth ratio of 10.00 and a beta of 0.98. Palo Alto Networks Inc has a 1 year low of $160.08 and a 1 year high of $260.63. The business has a 50-day simple moving average of $210.51.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Wednesday, May 29th. The network technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Palo Alto Networks had a positive return on equity of 5.42% and a negative net margin of 2.30%. The company had revenue of $726.60 million for the quarter, compared to analysts’ expectations of $704.89 million. During the same quarter last year, the company earned $0.99 earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. Analysts anticipate that Palo Alto Networks Inc will post 0.87 earnings per share for the current year.
About Palo Alto Networks
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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