Pictet & Cie Europe SA Has $1.51 Million Position in Palo Alto Networks, Inc. (PANW)

Pictet & Cie Europe SA increased its holdings in Palo Alto Networks, Inc. (NYSE:PANW) by 15.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,450 shares of the network technology company’s stock after purchasing an additional 1,420 shares during the quarter. Pictet & Cie Europe SA’s holdings in Palo Alto Networks were worth $1,506,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Palo Alto Networks by 3.6% during the second quarter. Vanguard Group Inc. now owns 7,262,069 shares of the network technology company’s stock valued at $971,738,000 after acquiring an additional 254,836 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Palo Alto Networks by 36.0% during the third quarter. American Century Companies Inc. now owns 2,376,862 shares of the network technology company’s stock valued at $342,506,000 after acquiring an additional 629,523 shares during the last quarter. CI Global Investments Inc. increased its holdings in shares of Palo Alto Networks by 2.4% in the second quarter. CI Global Investments Inc. now owns 1,617,837 shares of the network technology company’s stock valued at $216,483,000 after purchasing an additional 37,597 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of Palo Alto Networks by 13,115.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock valued at $8,760,000 after purchasing an additional 1,163,306 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Palo Alto Networks by 109.9% in the second quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock valued at $152,883,000 after purchasing an additional 598,115 shares during the last quarter. 77.50% of the stock is owned by institutional investors.

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Shares of Palo Alto Networks, Inc. (NYSE:PANW) traded up $0.49 during midday trading on Friday, hitting $138.70. 1,429,100 shares of the stock traded hands, compared to its average volume of 1,734,458. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $165.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.65.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share 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 business had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $487.53 million. During the same period last year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. sell-side analysts expect that Palo Alto Networks, Inc. will post -0.5 EPS for the current fiscal year.

In other Palo Alto Networks news, President Mark Anderson sold 44,429 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $143.10, for a total value of $6,357,789.90. Following the completion of the transaction, the president now directly owns 176,290 shares of the company’s stock, valued at approximately $25,227,099. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carl M. Eschenbach sold 1,572 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $144.99, for a total transaction of $227,924.28. Following the completion of the transaction, the director now directly owns 3,619 shares of the company’s stock, valued at $524,718.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 284,744 shares of company stock valued at $42,239,296. 4.80% of the stock is owned by corporate insiders.

Several research firms recently commented on PANW. Evercore ISI set a $145.00 price target on Palo Alto Networks and gave the company a “hold” rating in a report on Thursday. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $173.00 price target on shares of Palo Alto Networks in a report on Tuesday. Piper Jaffray Companies set a $155.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research report on Sunday, November 12th. Zacks Investment Research lowered Palo Alto Networks from a “hold” rating to a “sell” rating in a research report on Monday. Finally, BidaskClub lowered Palo Alto Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $160.33.

Palo Alto Networks 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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