Public Employees Retirement Association of Colorado Has $3.36 Million Stake in Palo Alto Networks Inc (PANW)

Public Employees Retirement Association of Colorado cut its stake in Palo Alto Networks Inc (NYSE:PANW) by 19.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,850 shares of the network technology company’s stock after selling 3,322 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Palo Alto Networks were worth $3,364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Advocates Investment Management increased its position in shares of Palo Alto Networks by 65.2% during the 4th quarter. Financial Advocates Investment Management now owns 114 shares of the network technology company’s stock worth $43,000 after purchasing an additional 45 shares during the last quarter. Brown Advisory Securities LLC increased its position in shares of Palo Alto Networks by 1.0% during the 4th quarter. Brown Advisory Securities LLC now owns 4,863 shares of the network technology company’s stock worth $891,000 after purchasing an additional 46 shares during the last quarter. CWM LLC increased its position in shares of Palo Alto Networks by 9.3% during the 1st quarter. CWM LLC now owns 543 shares of the network technology company’s stock worth $132,000 after purchasing an additional 46 shares during the last quarter. Lido Advisors LLC increased its position in shares of Palo Alto Networks by 3.0% during the 4th quarter. Lido Advisors LLC now owns 1,634 shares of the network technology company’s stock worth $307,000 after purchasing an additional 48 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of Palo Alto Networks by 0.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 13,699 shares of the network technology company’s stock worth $2,580,000 after purchasing an additional 49 shares during the last quarter. 81.16% of the stock is owned by institutional investors and hedge funds.

PANW traded up $0.84 during trading on Wednesday, hitting $215.32. 2,343,538 shares of the stock were exchanged, compared to its average volume of 1,279,680. The firm has a market cap of $20.27 billion, a price-to-earnings ratio of -391.49, a price-to-earnings-growth ratio of 9.67 and a beta of 0.84. Palo Alto Networks Inc has a 1-year low of $160.08 and a 1-year high of $260.63. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.31.

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

In related news, EVP Nir Zuk sold 30,000 shares of Palo Alto Networks stock in a transaction that occurred on 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 directly owns 990,860 shares in the company, valued at $232,297,218.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark D. Mclaughlin sold 950 shares of Palo Alto Networks stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $250.05, for a total value of $237,547.50. Following the completion of the sale, the director now owns 206,171 shares in the company, valued at $51,553,058.55. The disclosure for this sale can be found here. In the last three months, insiders sold 242,844 shares of company stock worth $58,586,545. Corporate insiders own 3.10% of the company’s stock.

A number of equities analysts recently commented on PANW shares. Zacks Investment Research cut Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Northland Securities cut Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $240.00 target price for the company. in a report on Tuesday, February 26th. UBS Group raised their target price on Palo Alto Networks from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, February 20th. Stifel Nicolaus lifted their price objective on Palo Alto Networks from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Finally, Wells Fargo & Co lifted their price objective on Palo Alto Networks from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight 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 $268.45.

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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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