Dupont Capital Management Corp Acquires Shares of 29,166 Palo Alto Networks, Inc. (NASDAQ:PANW)

Dupont Capital Management Corp acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,166 shares of the network technology company's stock, valued at approximately $4,977,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Transce3nd LLC purchased a new stake in Palo Alto Networks during the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL raised its holdings in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after buying an additional 79 shares during the period. Anchor Investment Management LLC raised its holdings in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after buying an additional 78 shares during the period. Finally, Kiely Wealth Advisory Group Inc. raised its holdings in shares of Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after buying an additional 75 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays reduced their price target on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Citigroup increased their price target on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Sanford C. Bernstein set a $225.00 price target on Palo Alto Networks and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a report on Monday, May 19th. Finally, KeyCorp restated an "overweight" rating and set a $220.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $199.24 on Friday. The stock has a market capitalization of $132.85 billion, a price-to-earnings ratio of 113.85, a PEG ratio of 5.57 and a beta of 0.97. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The business has a fifty day moving average price of $187.43 and a 200-day moving average price of $185.31.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares in the company, valued at $48,629,704.62. This trade represents a 27.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $193.36, for a total value of $19,336,000.00. Following the completion of the transaction, the executive vice president now owns 3,343,516 shares of the company's stock, valued at $646,502,253.76. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 789,736 shares of company stock worth $139,837,528 in the last 90 days. Insiders own 2.50% of the company's stock.

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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