RMB Capital Management LLC Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

RMB Capital Management LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,954 shares of the network technology company’s stock after buying an additional 111 shares during the quarter. RMB Capital Management LLC’s holdings in Palo Alto Networks were worth $1,839,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. North Star Investment Management Corp. purchased a new position in Palo Alto Networks in the fourth quarter valued at about $28,000. Capital Advisory Group Advisory Services LLC purchased a new position in Palo Alto Networks in the 1st quarter valued at approximately $29,000. JNBA Financial Advisors boosted its position in Palo Alto Networks by 900.0% during the first quarter. JNBA Financial Advisors now owns 50 shares of the network technology company’s stock worth $31,000 after purchasing an additional 45 shares in the last quarter. Tyler Stone Wealth Management acquired a new stake in Palo Alto Networks in the fourth quarter valued at $33,000. Finally, Catalyst Capital Advisors LLC increased its position in shares of Palo Alto Networks by 113.8% in the fourth quarter. Catalyst Capital Advisors LLC now owns 62 shares of the network technology company’s stock valued at $35,000 after buying an additional 33 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $506.01, for a total transaction of $6,072,120.00. Following the completion of the sale, the executive vice president now owns 696,273 shares in the company, valued at $352,321,100.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $506.01, for a total value of $6,072,120.00. Following the completion of the transaction, the executive vice president now directly owns 696,273 shares in the company, valued at $352,321,100.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Aparna Bawa sold 951 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $501.56, for a total value of $476,983.56. Following the transaction, the director now directly owns 1,899 shares of the company’s stock, valued at $952,462.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,170 shares of company stock valued at $418,628,327. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PANW shares. UBS Group increased their price objective on shares of Palo Alto Networks to $545.00 in a research note on Friday, May 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Palo Alto Networks from $605.00 to $587.00 in a research note on Tuesday, May 17th. Citigroup reduced their target price on Palo Alto Networks from $610.00 to $605.00 in a research note on Friday, July 22nd. Raymond James reissued a “buy” rating and set a $610.00 price target on shares of Palo Alto Networks in a research report on Friday, May 20th. Finally, Wells Fargo & Company restated a “buy” rating and issued a $700.00 price objective on shares of Palo Alto Networks in a research report on Friday, May 20th. Three analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $630.88.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $501.37 on Friday. Palo Alto Networks, Inc. has a 1 year low of $358.37 and a 1 year high of $640.90. The firm’s 50-day simple moving average is $502.07 and its 200-day simple moving average is $530.35. The firm has a market cap of $49.95 billion, a PE ratio of -125.97, a price-to-earnings-growth ratio of 23.72 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last announced its quarterly earnings data on Thursday, May 19th. The network technology company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.21). Palo Alto Networks had a negative net margin of 7.54% and a negative return on equity of 57.50%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company earned ($0.62) EPS. The company’s quarterly revenue was up 29.1% compared to the same quarter last year. On average, equities analysts predict that Palo Alto Networks, Inc. will post -0.73 earnings per share for the current year.

Palo Alto Networks Company Profile

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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.