Enterprise Financial Services Corp Raises Position in Palo Alto Networks Inc (NYSE:PANW)

Enterprise Financial Services Corp increased its holdings in Palo Alto Networks Inc (NYSE:PANW) by 3,205.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 562 shares of the network technology company’s stock after acquiring an additional 545 shares during the period. Enterprise Financial Services Corp’s holdings in Palo Alto Networks were worth $136,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Northern Trust Corp boosted its position in shares of Palo Alto Networks by 3.5% during the fourth quarter. Northern Trust Corp now owns 1,135,398 shares of the network technology company’s stock worth $213,853,000 after buying an additional 38,069 shares during the period. Navellier & Associates Inc boosted its position in shares of Palo Alto Networks by 23.9% during the fourth quarter. Navellier & Associates Inc now owns 3,317 shares of the network technology company’s stock worth $625,000 after buying an additional 639 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Palo Alto Networks by 11.1% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 1,131 shares of the network technology company’s stock worth $213,000 after buying an additional 113 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Palo Alto Networks by 0.3% during the fourth quarter. Gateway Investment Advisers LLC now owns 27,497 shares of the network technology company’s stock worth $5,179,000 after buying an additional 95 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Palo Alto Networks by 0.9% during the fourth quarter. M&T Bank Corp now owns 17,460 shares of the network technology company’s stock worth $3,289,000 after buying an additional 154 shares during the period. Institutional investors own 79.71% of the company’s stock.

Palo Alto Networks stock traded up $0.26 during midday trading on Wednesday, reaching $228.00. The company’s stock had a trading volume of 704,737 shares, compared to its average volume of 1,259,525. Palo Alto Networks Inc has a fifty-two week low of $160.08 and a fifty-two week high of $260.63. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.87 and a quick ratio of 1.87. The stock has a market cap of $21.37 billion, a PE ratio of -414.55, a P/E/G ratio of 10.09 and a beta of 0.84.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Tuesday, February 26th. The network technology company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.20. Palo Alto Networks had a positive return on equity of 4.69% and a negative net margin of 3.47%. The company had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $682.32 million. During the same period last year, the firm earned $0.97 earnings per share. Palo Alto Networks’s quarterly revenue was up 30.3% on a year-over-year basis. On average, research analysts expect that Palo Alto Networks Inc will post 0.96 earnings per share for the current fiscal year.

In other news, insider Jean Compeau sold 1,258 shares of Palo Alto Networks stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $238.51, for a total transaction of $300,045.58. Following the sale, the insider now owns 22,578 shares in the company, valued at $5,385,078.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 30,000 shares of Palo Alto Networks stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $234.44, for a total value of $7,033,200.00. Following the sale, the executive vice president now owns 990,860 shares in the company, valued at approximately $232,297,218.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,844 shares of company stock worth $58,586,545. 3.10% of the stock is owned by insiders.

Several research analysts have recently commented on the company. Dougherty & Co restated a “buy” rating and set a $300.00 price target (up from $260.00) on shares of Palo Alto Networks in a research report on Wednesday, February 27th. Oppenheimer raised their price target on Palo Alto Networks from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. Morgan Stanley raised their price target on Palo Alto Networks from $266.00 to $290.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 27th. KeyCorp raised their price target on Palo Alto Networks from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 27th. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $280.00 price target (up from $235.00) on shares of Palo Alto Networks in a research report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $268.75.

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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.

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

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