Aft Forsyth & Company Inc. Reduces Stock Holdings in Palo Alto Networks Inc (NYSE:PANW)

Aft Forsyth & Company Inc. lowered its position in Palo Alto Networks Inc (NYSE:PANW) by 64.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,500 shares of the network technology company’s stock after selling 2,667 shares during the quarter. Aft Forsyth & Company Inc.’s holdings in Palo Alto Networks were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its holdings in shares of Palo Alto Networks by 92.8% in the first quarter. Sequoia Financial Advisors LLC now owns 21,067 shares of the network technology company’s stock valued at $3,454,000 after purchasing an additional 10,140 shares during the period. Banco Santander S.A. grew its holdings in shares of Palo Alto Networks by 422.9% in the first quarter. Banco Santander S.A. now owns 7,504 shares of the network technology company’s stock valued at $1,230,000 after purchasing an additional 6,069 shares during the period. Argent Trust Co grew its holdings in shares of Palo Alto Networks by 4.5% in the first quarter. Argent Trust Co now owns 4,107 shares of the network technology company’s stock valued at $673,000 after purchasing an additional 175 shares during the period. Meitav Dash Investments Ltd. grew its holdings in shares of Palo Alto Networks by 16.8% in the first quarter. Meitav Dash Investments Ltd. now owns 136,316 shares of the network technology company’s stock valued at $22,354,000 after purchasing an additional 19,573 shares during the period. Finally, Analyst IMS Investment Management Services Ltd. grew its holdings in shares of Palo Alto Networks by 51.4% in the first quarter. Analyst IMS Investment Management Services Ltd. now owns 4,087 shares of the network technology company’s stock valued at $670,000 after purchasing an additional 1,388 shares during the period. 77.99% of the stock is owned by hedge funds and other institutional investors.

In related news, Director John Donovan acquired 8,102 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of $185.35 per share, with a total value of $1,501,705.70. Following the purchase, the director now directly owns 11,222 shares in the company, valued at approximately $2,079,997.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $165.75, for a total transaction of $1,989,000.00. Following the transaction, the executive vice president now directly owns 838,699 shares of the company’s stock, valued at approximately $139,014,359.25. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

PANW stock traded up $8.43 during trading on Friday, hitting $237.93. The stock had a trading volume of 4,098,348 shares, compared to its average volume of 1,345,703. The company’s 50 day moving average price is $195.88 and its two-hundred day moving average price is $214.24. Palo Alto Networks Inc has a 1-year low of $125.47 and a 1-year high of $251.10. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of -100.82 and a beta of 1.14. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.78 and a current ratio of 1.78.

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

Several brokerages have weighed in on PANW. Northland Securities reaffirmed an “outperform” rating and set a $285.00 target price (up previously from $274.00) on shares of Palo Alto Networks in a research note on Friday. Bank of America reaffirmed a “neutral” rating and set a $255.00 target price (up previously from $200.00) on shares of Palo Alto Networks in a research note on Friday. Jefferies Financial Group increased their target price on shares of Palo Alto Networks from $200.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird reaffirmed a “buy” rating on shares of Palo Alto Networks in a research note on Friday. Finally, BMO Capital Markets increased their target price on shares of Palo Alto Networks from $220.00 to $230.00 and gave the stock a “market perform” rating in a research note on Monday, May 18th. Twelve analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $254.48.

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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