Ascent Wealth Partners LLC Grows Holdings in Palo Alto Networks Inc (NYSE:PANW)

Ascent Wealth Partners LLC raised its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 8.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,425 shares of the network technology company’s stock after acquiring an additional 438 shares during the period. Ascent Wealth Partners LLC’s holdings in Palo Alto Networks were worth $1,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PANW. Alpha Omega Wealth Management LLC bought a new position in Palo Alto Networks in the first quarter valued at approximately $26,000. Manchester Capital Management LLC bought a new position in Palo Alto Networks in the first quarter valued at approximately $26,000. C J Advisory Inc bought a new position in Palo Alto Networks in the first quarter valued at approximately $30,000. Cable Hill Partners LLC boosted its stake in Palo Alto Networks by 226.1% in the first quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock valued at $37,000 after acquiring an additional 104 shares during the last quarter. Finally, Bruderman Asset Management LLC bought a new position in Palo Alto Networks in the fourth quarter valued at approximately $38,000. 79.04% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the stock. ValuEngine lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Saturday, June 22nd. Evercore ISI reiterated a “buy” rating and issued a $290.00 target price on shares of Palo Alto Networks in a report on Sunday, June 2nd. Robert W. Baird cut their target price on shares of Palo Alto Networks from $290.00 to $275.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Raymond James cut their target price on shares of Palo Alto Networks from $270.00 to $260.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. cut their target price on shares of Palo Alto Networks from $293.00 to $270.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. One investment 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 given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $263.03.

In other news, EVP Lee Klarich sold 7,662 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $201.29, for a total value of $1,542,283.98. Following the sale, the executive vice president now directly owns 289,849 shares of the company’s stock, valued at approximately $58,343,705.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jean Compeau sold 1,258 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $238.51, for a total transaction of $300,045.58. Following the completion of the sale, the insider now directly owns 22,578 shares in the company, valued at $5,385,078.78. The disclosure for this sale can be found here. Insiders have sold a total of 150,930 shares of company stock worth $33,915,400 over the last three months. Insiders own 3.10% of the company’s stock.

PANW stock traded up $1.87 during trading on Monday, reaching $205.63. 1,165,052 shares of the company were exchanged, compared to its average volume of 1,333,603. The business’s 50-day moving average is $208.68. The company has a market capitalization of $19.71 billion, a P/E ratio of -373.87, a price-to-earnings-growth ratio of 10.00 and a beta of 0.91. Palo Alto Networks Inc has a twelve month low of $160.08 and a twelve month high of $260.63. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.86 and a quick ratio of 1.86.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Wednesday, May 29th. The network technology company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $704.89 million. During the same quarter in the prior year, the company earned $0.99 earnings per share. Palo Alto Networks’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, research analysts forecast that Palo Alto Networks Inc will post 0.87 earnings per share for the current fiscal year.

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.

Read More: What does a dividend yield signify to investors?

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

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.