Palo Alto Networks Inc (PANW) Position Increased by Flossbach Von Storch AG

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Flossbach Von Storch AG boosted its stake in Palo Alto Networks Inc (NYSE:PANW) by 26.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 201,431 shares of the network technology company’s stock after buying an additional 41,850 shares during the period. Flossbach Von Storch AG’s holdings in Palo Alto Networks were worth $45,374,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. First Manhattan Co. acquired a new position in Palo Alto Networks in the third quarter worth $106,000. Banco de Sabadell S.A acquired a new position in Palo Alto Networks in the second quarter worth $103,000. Price Capital Management Inc. acquired a new position in Palo Alto Networks in the third quarter worth $113,000. CIBC Private Wealth Group LLC boosted its stake in Palo Alto Networks by 2,475.0% in the second quarter. CIBC Private Wealth Group LLC now owns 515 shares of the network technology company’s stock worth $106,000 after purchasing an additional 495 shares in the last quarter. Finally, NEXT Financial Group Inc acquired a new position in Palo Alto Networks in the third quarter worth $125,000. 80.09% of the stock is currently owned by institutional investors and hedge funds.

In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $235.24, for a total value of $9,409,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 30,000 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $234.70, for a total value of $7,041,000.00. The disclosure for this sale can be found here. Insiders sold 289,178 shares of company stock valued at $63,045,941 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

A number of equities analysts have commented on the company. ValuEngine raised Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. UBS Group raised Palo Alto Networks to a “neutral” rating in a research note on Wednesday, October 3rd. Oppenheimer boosted their price objective on Palo Alto Networks from $235.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, September 7th. Zacks Investment Research downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Finally, Robert W. Baird restated an “outperform” rating on shares of Palo Alto Networks in a research report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $240.94.

NYSE PANW opened at $183.80 on Wednesday. The stock has a market capitalization of $17.38 billion, a P/E ratio of -334.18, a P/E/G ratio of 12.94 and a beta of 1.22. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.42. Palo Alto Networks Inc has a 12 month low of $135.85 and a 12 month high of $239.50.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, September 6th. The network technology company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $658.10 million during the quarter, compared to the consensus estimate of $634.14 million. Palo Alto Networks had a negative return on equity of 4.12% and a negative net margin of 6.51%. The firm’s revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 earnings per share. On average, equities research analysts predict that Palo Alto Networks Inc will post 0.61 EPS for the current year.

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Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network 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.

Further Reading: What are Closed-End Mutual Funds?

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

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