Palo Alto Networks Inc (NYSE:PANW) Stake Raised by Sigma Planning Corp

Sigma Planning Corp grew its holdings in shares of Palo Alto Networks Inc (NYSE:PANW) by 35.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,370 shares of the network technology company’s stock after buying an additional 356 shares during the period. Sigma Planning Corp’s holdings in Palo Alto Networks were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Palo Alto Networks by 4.3% during the first quarter. BlackRock Inc. now owns 5,453,457 shares of the network technology company’s stock valued at $1,324,534,000 after acquiring an additional 224,298 shares during the period. Clearbridge Investments LLC increased its stake in shares of Palo Alto Networks by 2.9% during the first quarter. Clearbridge Investments LLC now owns 2,734,047 shares of the network technology company’s stock valued at $664,045,000 after acquiring an additional 77,503 shares during the period. Northern Trust Corp increased its stake in shares of Palo Alto Networks by 1.8% during the first quarter. Northern Trust Corp now owns 1,155,831 shares of the network technology company’s stock valued at $280,728,000 after acquiring an additional 20,433 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Palo Alto Networks by 11.6% during the first quarter. Pictet Asset Management Ltd. now owns 999,285 shares of the network technology company’s stock valued at $242,706,000 after acquiring an additional 104,207 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Palo Alto Networks by 3.6% during the first quarter. Lazard Asset Management LLC now owns 979,324 shares of the network technology company’s stock valued at $237,857,000 after acquiring an additional 33,861 shares during the period. 79.97% of the stock is currently owned by institutional investors.

A number of research analysts recently commented on the stock. Evercore ISI reiterated a “buy” rating and set a $290.00 price objective on shares of Palo Alto Networks in a research note on Sunday, June 2nd. JPMorgan Chase & Co. decreased their price target on shares of Palo Alto Networks from $293.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Jefferies Financial Group decreased their price target on shares of Palo Alto Networks from $296.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Mizuho decreased their price target on shares of Palo Alto Networks from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Finally, Barclays decreased their price target on shares of Palo Alto Networks from $303.00 to $242.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $263.38.

In other Palo Alto Networks news, CFO Kathleen Bonanno sold 7,210 shares of Palo Alto Networks stock in a transaction on Friday, May 31st. The shares were sold at an average price of $200.00, for a total transaction of $1,442,000.00. Following the completion of the sale, the chief financial officer now owns 31,796 shares of the company’s stock, valued at approximately $6,359,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $197.47, for a total transaction of $2,369,640.00. Following the sale, the executive vice president now directly owns 940,243 shares of the company’s stock, valued at approximately $185,669,785.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,092 shares of company stock worth $39,067,840. Corporate insiders own 3.10% of the company’s stock.

NYSE PANW opened at $203.77 on Thursday. Palo Alto Networks Inc has a twelve month low of $160.08 and a twelve month high of $260.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of -370.49, a PEG ratio of 6.72 and a beta of 0.90. The firm’s 50 day moving average price is $216.66 and its two-hundred day moving average price is $225.00.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Wednesday, May 29th. The network technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.06). Palo Alto Networks had a positive return on equity of 5.42% and a negative net margin of 2.30%. The firm had revenue of $726.60 million for the quarter, compared to analysts’ expectations of $704.89 million. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, research analysts forecast that Palo Alto Networks Inc will post 0.87 EPS for the current fiscal year.

Palo Alto Networks Company 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.

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

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