Palo Alto Networks Inc (PANW) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its holdings in shares of Palo Alto Networks Inc (NYSE:PANW) by 3.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,135,398 shares of the network technology company’s stock after acquiring an additional 38,069 shares during the period. Northern Trust Corp’s holdings in Palo Alto Networks were worth $213,853,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Palo Alto Networks by 1.2% in the third quarter. Vanguard Group Inc. now owns 7,709,183 shares of the network technology company’s stock valued at $1,736,571,000 after buying an additional 94,743 shares during the last quarter. Navellier & Associates Inc boosted its position in Palo Alto Networks by 23.9% in the fourth quarter. Navellier & Associates Inc now owns 3,317 shares of the network technology company’s stock valued at $625,000 after buying an additional 639 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in Palo Alto Networks by 0.3% in the fourth quarter. Gateway Investment Advisers LLC now owns 27,497 shares of the network technology company’s stock valued at $5,179,000 after buying an additional 95 shares during the last quarter. M&T Bank Corp boosted its position in Palo Alto Networks by 0.9% in the fourth quarter. M&T Bank Corp now owns 17,460 shares of the network technology company’s stock valued at $3,289,000 after buying an additional 154 shares during the last quarter. Finally, Chartwell Investment Partners LLC boosted its position in Palo Alto Networks by 23.4% in the third quarter. Chartwell Investment Partners LLC now owns 27,028 shares of the network technology company’s stock valued at $6,088,000 after buying an additional 5,123 shares during the last quarter. Institutional investors and hedge funds own 80.60% of the company’s stock.

In related news, CAO Jean Compeau sold 1,701 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $235.37, for a total value of $400,364.37. Following the completion of the transaction, the chief accounting officer now directly owns 23,836 shares of the company’s stock, valued at approximately $5,610,279.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 30,000 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $184.49, for a total value of $5,534,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 207,652 shares of company stock valued at $44,915,701. Corporate insiders own 3.10% of the company’s stock.

Shares of PANW stock opened at $234.63 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market cap of $22.26 billion, a PE ratio of -426.60, a price-to-earnings-growth ratio of 13.80 and a beta of 0.91. Palo Alto Networks Inc has a 1-year low of $160.08 and a 1-year high of $260.63.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Tuesday, February 26th. The network technology company reported $1.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.29. The business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $682.32 million. Palo Alto Networks had a negative return on equity of 1.72% and a negative net margin of 5.04%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 EPS. On average, sell-side analysts forecast that Palo Alto Networks Inc will post 0.82 earnings per share for the current fiscal year.

A number of brokerages recently commented on PANW. Dougherty & Co reiterated a “buy” rating and issued a $300.00 target price (up previously from $260.00) on shares of Palo Alto Networks in a research report on Wednesday, February 27th. Oppenheimer upped their target price on Palo Alto Networks from $270.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. Morgan Stanley upped their target price on Palo Alto Networks from $266.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday, February 27th. KeyCorp upped their target price on Palo Alto Networks from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, February 27th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $280.00 target price (up previously from $235.00) on shares of Palo Alto Networks in a research report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $267.37.

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Palo Alto Networks Profile

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.

See Also: Buyback

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

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