Sequoia Financial Advisors LLC grew its holdings in Palo Alto Networks, Inc. (NYSE:PANW) by 11.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,895 shares of the network technology company’s stock after acquiring an additional 2,757 shares during the period. Sequoia Financial Advisors LLC’s holdings in Palo Alto Networks were worth $6,583,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rockbridge Investment Management LCC purchased a new position in Palo Alto Networks during the second quarter valued at $34,000. Prime Capital Investment Advisors LLC grew its stake in Palo Alto Networks by 1,500.0% during the second quarter. Prime Capital Investment Advisors LLC now owns 160 shares of the network technology company’s stock valued at $37,000 after acquiring an additional 150 shares in the last quarter. Keebeck Wealth Management LLC purchased a new position in shares of Palo Alto Networks in the 2nd quarter worth $36,000. Cornerstone Advisors Inc. grew its stake in shares of Palo Alto Networks by 68.7% in the 2nd quarter. Cornerstone Advisors Inc. now owns 167 shares of the network technology company’s stock worth $38,000 after buying an additional 68 shares in the last quarter. Finally, Hall Laurie J Trustee purchased a new position in shares of Palo Alto Networks in the 3rd quarter worth $44,000. Institutional investors and hedge funds own 78.50% of the company’s stock.
A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Palo Alto Networks from $280.00 to $299.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 25th. BTIG Research raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $313.00 price objective for the company in a research note on Tuesday, August 4th. BMO Capital Markets dropped their price objective on shares of Palo Alto Networks from $300.00 to $297.00 and set a “market perform” rating for the company in a research note on Tuesday, August 25th. Wells Fargo & Company lifted their price objective on shares of Palo Alto Networks from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Finally, Mizuho lifted their price objective on shares of Palo Alto Networks from $265.00 to $300.00 in a research note on Wednesday, August 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the company. Palo Alto Networks has an average rating of “Buy” and an average target price of $291.32.
Shares of NYSE:PANW traded down $6.77 during trading hours on Monday, hitting $229.77. The company’s stock had a trading volume of 22,963 shares, compared to its average volume of 1,345,670. Palo Alto Networks, Inc. has a 52 week low of $125.47 and a 52 week high of $275.03. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market capitalization of $22.80 billion, a price-to-earnings ratio of -86.01 and a beta of 1.17. The firm’s fifty day moving average price is $244.19 and its 200 day moving average price is $233.50.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Monday, August 24th. The network technology company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. Palo Alto Networks had a negative net margin of 7.83% and a negative return on equity of 9.61%. The business had revenue of $950.40 million during the quarter, compared to analyst estimates of $924.29 million. During the same quarter in the previous year, the business posted $1.47 EPS. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts predict that Palo Alto Networks, Inc. will post -0.21 earnings per share for the current fiscal year.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software 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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