Nisa Investment Advisors LLC Raises Position in Palo Alto Networks, Inc. (PANW)
Nisa Investment Advisors LLC increased its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 85.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,700 shares of the network technology company’s stock after buying an additional 1,700 shares during the period. Nisa Investment Advisors LLC’s holdings in Palo Alto Networks were worth $449,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of PANW. Nomura Asset Management Co. Ltd. boosted its position in Palo Alto Networks by 5,177.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock valued at $55,958,000 after buying an additional 487,200 shares in the last quarter. Hunt Lane Capital LP bought a new position in Palo Alto Networks during the first quarter valued at about $42,818,000. Renaissance Technologies LLC boosted its position in Palo Alto Networks by 16.7% in the first quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock valued at $242,578,000 after buying an additional 307,800 shares in the last quarter. American Century Companies Inc. bought a new position in Palo Alto Networks during the first quarter valued at about $32,134,000. Finally, Pictet Asset Management Ltd. boosted its position in Palo Alto Networks by 100.7% in the first quarter. Pictet Asset Management Ltd. now owns 552,800 shares of the network technology company’s stock valued at $62,290,000 after buying an additional 277,300 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.
Shares of Palo Alto Networks, Inc. (NYSE PANW) traded up 1.41% on Friday, hitting $129.52. 431,717 shares of the stock were exchanged. The company has a 50-day moving average price of $135.51 and a 200-day moving average price of $128.43. The firm’s market capitalization is $11.89 billion. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $165.69.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The business had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $412.11 million. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue was up 24.9% on a year-over-year basis. Equities research analysts expect that Palo Alto Networks, Inc. will post $2.59 earnings per share for the current year.
PANW has been the topic of several research reports. Jefferies Group LLC raised Palo Alto Networks from a “hold” rating to a “buy” rating and upped their price target for the company from $130.00 to $150.00 in a report on Friday, May 19th. FBN Securities cut Palo Alto Networks from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $135.00 to $115.00 in a report on Monday, April 17th. BMO Capital Markets dropped their price target on Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating on the stock in a report on Friday, April 21st. BidaskClub cut Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Finally, OTR Global reaffirmed a “positive” rating on shares of Palo Alto Networks in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $150.94.
In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of Palo Alto Networks stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. Following the completion of the sale, the director now owns 271,645 shares in the company, valued at approximately $37,478,860.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by insiders.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its 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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