2,410 Shares in Palo Alto Networks Inc (NYSE:PANW) Purchased by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV acquired a new position in shares of Palo Alto Networks Inc (NYSE:PANW) during the 4th quarter, HoldingsChannel reports. The firm acquired 2,410 shares of the network technology company’s stock, valued at approximately $557,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PANW. Resources Management Corp CT ADV bought a new position in Palo Alto Networks in the 3rd quarter worth about $25,000. Capital Investment Advisory Services LLC grew its position in Palo Alto Networks by 322.6% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 131 shares of the network technology company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Palo Alto Networks in the 2nd quarter worth about $30,000. Glassman Wealth Services grew its position in Palo Alto Networks by 347.2% in the 3rd quarter. Glassman Wealth Services now owns 161 shares of the network technology company’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. Finally, Simon Quick Advisors LLC bought a new position in Palo Alto Networks in the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 79.13% of the company’s stock.

Shares of NYSE PANW traded down $5.00 during trading on Monday, reaching $237.90. The company had a trading volume of 281,136 shares, compared to its average volume of 786,767. Palo Alto Networks Inc has a 52 week low of $192.17 and a 52 week high of $260.63. The stock has a market cap of $23.79 billion, a PE ratio of -220.27 and a beta of 0.94. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.78 and a current ratio of 1.78. The business’s 50 day moving average price is $234.44 and its 200-day moving average price is $222.38.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Monday, November 25th. The network technology company reported $1.05 EPS for the quarter, topping the consensus estimate of ($0.17) by $1.22. The company had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $769.34 million. Palo Alto Networks had a negative net margin of 3.42% and a positive return on equity of 2.43%. Palo Alto Networks’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.17 EPS. Equities analysts anticipate that Palo Alto Networks Inc will post -0.12 earnings per share for the current year.

In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $232.10, for a total value of $2,785,200.00. Following the completion of the sale, the executive vice president now owns 900,546 shares in the company, valued at $209,016,726.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jean Compeau sold 1,450 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $241.29, for a total value of $349,870.50. Following the completion of the sale, the chief accounting officer now owns 25,145 shares of the company’s stock, valued at approximately $6,067,237.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,512 shares of company stock valued at $9,173,199. Insiders own 2.30% of the company’s stock.

Several brokerages recently issued reports on PANW. Goldman Sachs Group reissued a “buy” rating and set a $297.00 price target on shares of Palo Alto Networks in a report on Thursday, January 2nd. Citigroup lifted their price target on shares of Palo Alto Networks from $247.00 to $283.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Northland Securities reissued a “hold” rating and set a $240.00 price target on shares of Palo Alto Networks in a report on Tuesday, November 26th. Rosenblatt Securities reissued a “hold” rating and set a $220.00 price target on shares of Palo Alto Networks in a report on Tuesday, November 26th. Finally, ValuEngine downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $265.45.

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.

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

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