Peregrine Capital Management LLC boosted its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 9,469.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,298 shares of the network technology company’s stock after buying an additional 81,438 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.09% of Palo Alto Networks worth $15,501,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Palo Alto Networks by 1.2% in the third quarter. Vanguard Group Inc. now owns 7,709,183 shares of the network technology company’s stock valued at $1,736,571,000 after buying an additional 94,743 shares in the last quarter. Vanguard Group Inc increased its stake in Palo Alto Networks by 1.2% in the third quarter. Vanguard Group Inc now owns 7,709,183 shares of the network technology company’s stock valued at $1,736,571,000 after acquiring an additional 94,743 shares during the last quarter. Renaissance Technologies LLC increased its stake in Palo Alto Networks by 24.8% in the third quarter. Renaissance Technologies LLC now owns 4,651,200 shares of the network technology company’s stock valued at $1,047,729,000 after acquiring an additional 925,500 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Palo Alto Networks by 10.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,607,673 shares of the network technology company’s stock valued at $362,144,000 after acquiring an additional 146,447 shares during the last quarter. Finally, Morgan Stanley increased its stake in Palo Alto Networks by 5.4% in the third quarter. Morgan Stanley now owns 1,433,131 shares of the network technology company’s stock valued at $322,827,000 after acquiring an additional 73,391 shares during the last quarter. 80.37% of the stock is currently owned by hedge funds and other institutional investors.
In other Palo Alto Networks news, Director Stanley J. Meresman sold 1,958 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $177.48, for a total value of $347,505.84. Following the completion of the sale, the director now directly owns 1,658 shares of the company’s stock, valued at approximately $294,261.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 30,000 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $217.66, for a total transaction of $6,529,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,024 shares of company stock valued at $31,265,111. 3.10% of the stock is currently owned by insiders.
Shares of NYSE PANW traded up $5.17 during trading on Friday, hitting $224.62. 1,019,309 shares of the company traded hands, compared to its average volume of 1,164,968. Palo Alto Networks Inc has a fifty-two week low of $148.41 and a fifty-two week high of $239.50. The firm has a market capitalization of $20.82 billion, a P/E ratio of -408.40, a P/E/G ratio of 13.16 and a beta of 0.91. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 1.10.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Thursday, November 29th. The network technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. The firm had revenue of $656.00 million for the quarter, compared to analyst estimates of $632.16 million. Palo Alto Networks had a negative net margin of 5.04% and a negative return on equity of 1.72%. The business’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Equities research analysts forecast that Palo Alto Networks Inc will post 0.71 EPS for the current year.
A number of research analysts recently issued reports on the stock. ValuEngine raised shares of Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Zacks Investment Research raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $247.00 price objective on the stock in a research note on Wednesday. Robert W. Baird reissued an “outperform” rating on shares of Palo Alto Networks in a research note on Thursday, October 18th. Wedbush raised shares of Palo Alto Networks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $225.00 to $265.00 in a research note on Thursday, January 24th. Finally, UBS Group raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Tuesday, January 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-three have given a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $244.76.
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About Palo Alto Networks
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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