Brown Brothers Harriman & Co. lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 39.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,100 shares of the network technology company’s stock after buying an additional 882 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Palo Alto Networks were worth $1,051,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in PANW. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks during the first quarter worth about $25,000. Frank Rimerman Advisors LLC purchased a new stake in Palo Alto Networks in the 4th quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares during the last quarter. Ulland Investment Advisors LLC purchased a new position in Palo Alto Networks during the first quarter worth $30,000. Finally, Central Bank & Trust Co. raised its holdings in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after acquiring an additional 50 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the transaction, the president now directly owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total value of $500,202.00. Following the sale, the president now directly owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock valued at $154,029,567 over the last quarter. Corporate insiders own 3.30% of the company’s stock.
Analyst Ratings Changes
Palo Alto Networks Stock Performance
NASDAQ:PANW opened at $337.93 on Wednesday. The stock has a market cap of $110.03 billion, a price-to-earnings ratio of 49.12, a PEG ratio of 5.03 and a beta of 1.13. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year high of $380.84. The business has a fifty day moving average of $336.41 and a 200-day moving average of $312.63.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.
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