Gilman Hill Asset Management LLC Cuts Position in Palo Alto Networks Inc (NYSE:PANW)

Gilman Hill Asset Management LLC decreased its position in Palo Alto Networks Inc (NYSE:PANW) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,573 shares of the network technology company’s stock after selling 211 shares during the period. Gilman Hill Asset Management LLC’s holdings in Palo Alto Networks were worth $1,364,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PANW. Rockbridge Investment Management LCC purchased a new position in Palo Alto Networks in the second quarter valued at approximately $34,000. Keebeck Wealth Management LLC purchased a new position in Palo Alto Networks in the second quarter valued at approximately $36,000. Prime Capital Investment Advisors LLC lifted its stake in Palo Alto Networks by 1,500.0% in the second quarter. Prime Capital Investment Advisors LLC now owns 160 shares of the network technology company’s stock valued at $37,000 after purchasing an additional 150 shares during the last quarter. Cornerstone Advisors Inc. lifted its position in shares of Palo Alto Networks by 68.7% during the second quarter. Cornerstone Advisors Inc. now owns 167 shares of the network technology company’s stock worth $38,000 after acquiring an additional 68 shares in the last quarter. Finally, Hall Laurie J Trustee purchased a new stake in shares of Palo Alto Networks during the third quarter worth $44,000. Institutional investors and hedge funds own 78.50% of the company’s stock.

PANW opened at $246.36 on Friday. The stock has a market cap of $23.74 billion, a PE ratio of -89.59 and a beta of 1.14. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 2.80. Palo Alto Networks Inc has a 52 week low of $125.47 and a 52 week high of $275.03. The business’s fifty day simple moving average is $246.16 and its 200 day simple moving average is $230.76.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Monday, August 24th. The network technology company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.09. Palo Alto Networks had a negative return on equity of 9.61% and a negative net margin of 7.83%. The firm had revenue of $950.40 million for the quarter, compared to analysts’ expectations of $924.29 million. During the same period last year, the firm earned $1.47 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that Palo Alto Networks Inc will post -0.21 earnings per share for the current year.

Several equities research analysts have issued reports on PANW shares. Oppenheimer increased their target price on Palo Alto Networks from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Rosenblatt Securities restated a “buy” rating and set a $270.00 target price on shares of Palo Alto Networks in a research report on Tuesday, July 28th. Morgan Stanley increased their target price on Palo Alto Networks from $281.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. increased their target price on Palo Alto Networks from $236.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 25th. Finally, DA Davidson increased their target price on Palo Alto Networks from $290.00 to $310.00 in a research report on Tuesday, August 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $291.32.

In other news, CAO Jean Compeau sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $265.11, for a total transaction of $530,220.00. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $254.33, for a total value of $3,051,960.00. Following the transaction, the executive vice president now directly owns 944,469 shares in the company, valued at $240,206,800.77. The disclosure for this sale can be found here. Insiders have sold 72,756 shares of company stock worth $18,569,240 over the last ninety days. Insiders own 2.30% of the company’s stock.

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

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