Caxton Associates LP acquired a new position in Palo Alto Networks, Inc. (NYSE:PANW) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 35,000 shares of the network technology company’s stock, valued at approximately $5,044,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in Palo Alto Networks by 512.7% in the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock worth $233,811,000 after purchasing an additional 1,462,162 shares during the last quarter. Northern Trust Corp boosted its position in 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 worth $152,883,000 after purchasing an additional 598,115 shares during the last quarter. ETF Managers Group LLC purchased a new position in Palo Alto Networks in the second quarter worth about $48,287,000. Sirios Capital Management L P purchased a new position in Palo Alto Networks in the second quarter worth about $40,567,000. Finally, Ameriprise Financial Inc. boosted its position in Palo Alto Networks by 35.5% in the third quarter. Ameriprise Financial Inc. now owns 1,068,289 shares of the network technology company’s stock worth $153,798,000 after purchasing an additional 279,602 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.
In related news, CMO Rene Bonvanie sold 16,596 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $151.83, for a total transaction of $2,519,770.68. Following the completion of the transaction, the chief marketing officer now owns 95,584 shares in the company, valued at approximately $14,512,518.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nir Zuk sold 2,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $145.01, for a total value of $290,020.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 345,213 shares of company stock worth $51,243,441. Corporate insiders own 4.80% of the company’s stock.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.06. The firm had revenue of $505.50 million for the quarter, compared to the consensus estimate of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. equities analysts forecast that Palo Alto Networks, Inc. will post -0.37 EPS for the current year.
A number of research analysts have recently weighed in on the company. Dougherty & Co lifted their price objective on Palo Alto Networks from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, September 28th. Zacks Investment Research cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Robert W. Baird reaffirmed a “hold” rating and set a $149.00 price objective on shares of Palo Alto Networks in a research report on Thursday, September 28th. Oppenheimer reaffirmed a “buy” rating and set a $173.00 price objective on shares of Palo Alto Networks in a research report on Thursday, September 28th. Finally, ValuEngine raised Palo Alto Networks from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $162.84.
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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.
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