LS Investment Advisors LLC Has $129,000 Stake in Palo Alto Networks Inc. (PANW)
LS Investment Advisors LLC held its stake in shares of Palo Alto Networks Inc. (NYSE:PANW) during the second quarter, Holdings Channel reports. The institutional investor owned 1,050 shares of the network technology company’s stock at the end of the second quarter. LS Investment Advisors LLC’s holdings in Palo Alto Networks were worth $129,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Wunderlich Capital Managemnt acquired a new stake in Palo Alto Networks during the first quarter worth approximately $103,000. Integrated Investment Consultants LLC boosted its stake in Palo Alto Networks by 6.7% in the second quarter. Integrated Investment Consultants LLC now owns 1,040 shares of the network technology company’s stock worth $128,000 after buying an additional 65 shares during the period. Reynolds Capital Management LLC acquired a new stake in Palo Alto Networks during the first quarter worth approximately $228,000. Hartford Investment Management Co. boosted its stake in Palo Alto Networks by 12.0% in the second quarter. Hartford Investment Management Co. now owns 1,810 shares of the network technology company’s stock worth $222,000 after buying an additional 194 shares during the period. Finally, Adell Harriman & Carpenter Inc. acquired a new stake in Palo Alto Networks during the first quarter worth approximately $296,000. 80.06% of the stock is currently owned by institutional investors.
Palo Alto Networks Inc. (NYSE:PANW) traded up 2.08% on Friday, hitting $159.33. The stock had a trading volume of 1,745,821 shares. Palo Alto Networks Inc. has a one year low of $111.09 and a one year high of $194.73. The stock’s market cap is $14.48 billion. The company’s 50-day moving average is $144.53 and its 200-day moving average is $139.47.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Tuesday, August 30th. The network technology company reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. Palo Alto Networks had a negative return on equity of 34.28% and a negative net margin of 16.39%. The business had revenue of $400.80 million for the quarter, compared to analysts’ expectations of $389.90 million. During the same quarter last year, the firm earned $0.28 earnings per share. The business’s revenue was up 41.2% on a year-over-year basis. On average, analysts anticipate that Palo Alto Networks Inc. will post $2.78 earnings per share for the current fiscal year.
PANW has been the subject of a number of research analyst reports. Wunderlich reiterated a “buy” rating on shares of Palo Alto Networks in a research note on Wednesday, July 6th. Macquarie initiated coverage on Palo Alto Networks in a research note on Friday, July 8th. They issued a “neutral” rating and a $139.00 price target for the company. Citigroup Inc. decreased their price target on Palo Alto Networks from $164.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, July 20th. Zacks Investment Research cut Palo Alto Networks from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 26th. Finally, Cleveland Research cut Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 10th. Eight research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Palo Alto Networks has an average rating of “Buy” and a consensus price target of $180.96.
In related news, insider Nir Zuk sold 76,848 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $150.15, for a total value of $11,538,727.20. Following the transaction, the insider now directly owns 1,983,157 shares of the company’s stock, valued at approximately $297,771,023.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel J. Warmenhoven sold 1,950 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $151.00, for a total value of $294,450.00. Following the completion of the transaction, the director now directly owns 530 shares in the company, valued at $80,030. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.
About Palo Alto Networks
Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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