Financial Management Network Inc. Buys 150 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Financial Management Network Inc. grew its position in Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) by 25.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 750 shares of the network technology company’s stock after acquiring an additional 150 shares during the period. Financial Management Network Inc.’s holdings in Palo Alto Networks were worth $471,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Latitude Advisors LLC lifted its stake in shares of Palo Alto Networks by 2.8% in the fourth quarter. Latitude Advisors LLC now owns 738 shares of the network technology company’s stock worth $411,000 after acquiring an additional 20 shares during the period. Johanson Financial Advisors Inc. boosted its stake in Palo Alto Networks by 2.6% during the fourth quarter. Johanson Financial Advisors Inc. now owns 785 shares of the network technology company’s stock worth $437,000 after acquiring an additional 20 shares in the last quarter. Veriti Management LLC grew its stake in shares of Palo Alto Networks by 2.8% in the 4th quarter. Veriti Management LLC now owns 722 shares of the network technology company’s stock valued at $402,000 after buying an additional 20 shares during the period. Parkside Financial Bank & Trust grew its stake in Palo Alto Networks by 22.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 114 shares of the network technology company’s stock valued at $63,000 after acquiring an additional 21 shares during the period. Finally, Westhampton Capital LLC increased its stake in Palo Alto Networks by 0.8% during the 4th quarter. Westhampton Capital LLC now owns 2,930 shares of the network technology company’s stock valued at $1,631,000 after purchasing an additional 22 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Shares of PANW opened at $508.25 on Friday. The stock’s 50-day simple moving average is $505.42 and its 200 day simple moving average is $535.49. The stock has a market capitalization of $50.64 billion, a price-to-earnings ratio of -127.70 and a beta of 1.29. Palo Alto Networks, Inc. has a 52-week low of $358.37 and a 52-week high of $640.90.

Palo Alto Networks (NASDAQ:PANWGet Rating) last issued its quarterly earnings results on Thursday, May 19th. The network technology company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.21). The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Palo Alto Networks had a negative return on equity of 57.50% and a negative net margin of 7.54%. The company’s quarterly revenue was up 29.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.62) EPS. As a group, research analysts predict that Palo Alto Networks, Inc. will post -0.73 earnings per share for the current year.

In other news, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $563.41, for a total transaction of $6,760,920.00. Following the sale, the executive vice president now directly owns 707,665 shares of the company’s stock, valued at approximately $398,705,537.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 4,781 shares of the firm’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $602.42, for a total transaction of $2,880,170.02. Following the completion of the transaction, the executive vice president now directly owns 266,974 shares of the company’s stock, valued at $160,830,477.08. The disclosure for this sale can be found here. Insiders have sold a total of 56,789 shares of company stock valued at $420,096,261 in the last three months. Insiders own 2.20% of the company’s stock.

A number of analysts have commented on the company. Wedbush decreased their price objective on Palo Alto Networks from $660.00 to $580.00 and set an “outperform” rating for the company in a report on Friday, May 20th. Cowen reissued a “buy” rating and issued a $620.00 price target on shares of Palo Alto Networks in a research report on Friday, May 20th. BTIG Research lifted their price objective on shares of Palo Alto Networks from $610.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, April 8th. Mizuho lowered their target price on shares of Palo Alto Networks from $625.00 to $600.00 and set a “buy” rating for the company in a report on Wednesday, May 18th. Finally, Royal Bank of Canada boosted their price target on shares of Palo Alto Networks from $670.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, March 25th. Three equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $628.56.

About Palo Alto Networks (Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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.

Further Reading

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

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