Cypress Wealth Advisors LLC Raises Holdings in Palo Alto Networks, Inc. (PANW)

Cypress Wealth Advisors LLC grew its holdings in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 3.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,154 shares of the network technology company’s stock after purchasing an additional 113 shares during the quarter. Cypress Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $422,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. National Asset Management Inc. boosted its position in Palo Alto Networks by 4.7% during the second quarter. National Asset Management Inc. now owns 2,819 shares of the network technology company’s stock worth $378,000 after purchasing an additional 127 shares during the period. Grandeur Peak Global Advisors LLC boosted its position in Palo Alto Networks by 1.3% during the second quarter. Grandeur Peak Global Advisors LLC now owns 7,975 shares of the network technology company’s stock worth $1,067,000 after purchasing an additional 100 shares during the period. Scotia Capital Inc. bought a new position in Palo Alto Networks during the second quarter worth about $213,000. Raymond James Financial Services Advisors Inc. boosted its position in Palo Alto Networks by 2.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,021 shares of the network technology company’s stock worth $6,560,000 after purchasing an additional 1,155 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Palo Alto Networks by 9.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,491 shares of the network technology company’s stock worth $467,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 77.03% of the company’s stock.

PANW has been the subject of a number of analyst reports. BidaskClub lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. William Blair restated a “market perform” rating on shares of Palo Alto Networks in a research report on Tuesday, September 5th. Royal Bank Of Canada raised their price objective on shares of Palo Alto Networks from $145.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, September 1st. Dougherty & Co restated a “buy” rating and issued a $165.00 price objective (up from $155.00) on shares of Palo Alto Networks in a research report on Tuesday, September 5th. Finally, Summit Redstone upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-one have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $160.33.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The firm had revenue of $509.00 million for the quarter, compared to the consensus estimate of $487.53 million. During the same period in the previous year, the company posted $0.50 EPS. Palo Alto Networks’s quarterly revenue was up 27.0% compared to the same quarter last year.

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In related news, insider Nir Zuk sold 146,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $149.86, for a total transaction of $21,879,560.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stanley J. Meresman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $151.01, for a total value of $302,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 254,744 shares of company stock worth $37,804,516 in the last three months. Corporate insiders own 4.80% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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