Cetera Advisor Networks LLC Has $667,000 Position in Palo Alto Networks Inc (NYSE:PANW)

Cetera Advisor Networks LLC reduced its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,071 shares of the network technology company’s stock after selling 158 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Palo Alto Networks were worth $667,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Trillium Asset Management LLC lifted its stake in Palo Alto Networks by 11.2% in the first quarter. Trillium Asset Management LLC now owns 117,466 shares of the network technology company’s stock valued at $19,259,000 after acquiring an additional 11,834 shares during the last quarter. WASHINGTON TRUST Co lifted its stake in Palo Alto Networks by 2.2% in the first quarter. WASHINGTON TRUST Co now owns 115,577 shares of the network technology company’s stock valued at $18,950,000 after acquiring an additional 2,482 shares during the last quarter. AE Wealth Management LLC lifted its stake in Palo Alto Networks by 5.0% in the first quarter. AE Wealth Management LLC now owns 2,079 shares of the network technology company’s stock valued at $341,000 after acquiring an additional 99 shares during the last quarter. Montag A & Associates Inc. lifted its stake in Palo Alto Networks by 3.5% in the first quarter. Montag A & Associates Inc. now owns 1,956 shares of the network technology company’s stock valued at $321,000 after acquiring an additional 67 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Palo Alto Networks by 41.1% in the first quarter. First Trust Advisors LP now owns 509,155 shares of the network technology company’s stock valued at $83,481,000 after acquiring an additional 148,373 shares during the last quarter. Institutional investors and hedge funds own 77.99% of the company’s stock.

PANW has been the subject of a number of analyst reports. SunTrust Banks lifted their target price on shares of Palo Alto Networks from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Dougherty & Co upgraded shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research note on Tuesday. Zacks Investment Research raised shares of Palo Alto Networks from a “strong sell” rating to a “hold” rating and set a $201.00 price target on the stock in a research report on Tuesday, January 28th. ValuEngine raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Credit Suisse Group lifted their price target on shares of Palo Alto Networks from $190.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday. Twelve research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $254.48.

Shares of PANW stock opened at $237.93 on Friday. Palo Alto Networks Inc has a 1 year low of $125.47 and a 1 year high of $251.10. The firm’s fifty day simple moving average is $195.88 and its 200 day simple moving average is $214.24. The firm has a market capitalization of $22.88 billion, a P/E ratio of -100.82 and a beta of 1.14. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.13.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, May 21st. The network technology company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $1.54. The firm had revenue of $869.40 million for the quarter, compared to analyst estimates of $831.52 million. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 5.65%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 EPS. Equities research analysts anticipate that Palo Alto Networks Inc will post -0.77 EPS for the current fiscal year.

In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $165.75, for a total value of $1,989,000.00. Following the sale, the executive vice president now owns 838,699 shares of the company’s stock, valued at approximately $139,014,359.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Donovan purchased 8,102 shares of the stock in a transaction on Monday, March 2nd. The stock was acquired at an average cost of $185.35 per share, for a total transaction of $1,501,705.70. Following the acquisition, the director now directly owns 11,222 shares in the company, valued at $2,079,997.70. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.

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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