Stone Ridge Asset Management LLC Takes $2.57 Million Position in Palo Alto Networks Inc (PANW)

Share on StockTwits

Stone Ridge Asset Management LLC bought a new position in Palo Alto Networks Inc (NYSE:PANW) in the fourth quarter, Holdings Channel reports. The institutional investor bought 13,614 shares of the network technology company’s stock, valued at approximately $2,565,000.

A number of other large investors have also recently added to or reduced their stakes in PANW. Renaissance Technologies LLC lifted its position in Palo Alto Networks by 24.8% in the 3rd quarter. Renaissance Technologies LLC now owns 4,651,200 shares of the network technology company’s stock worth $1,047,729,000 after buying an additional 925,500 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Palo Alto Networks by 3,273.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 428,421 shares of the network technology company’s stock worth $96,506,000 after buying an additional 415,721 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in Palo Alto Networks in the 4th quarter worth approximately $44,262,000. MUFG Securities EMEA plc lifted its position in Palo Alto Networks by 3,470.5% in the 4th quarter. MUFG Securities EMEA plc now owns 203,449 shares of the network technology company’s stock worth $38,320,000 after buying an additional 197,751 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its position in Palo Alto Networks by 92.2% in the 4th quarter. Flossbach Von Storch AG now owns 387,080 shares of the network technology company’s stock worth $72,907,000 after buying an additional 185,649 shares during the last quarter. Institutional investors own 78.89% of the company’s stock.

Several analysts have weighed in on PANW shares. UBS Group upgraded Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Tuesday, January 22nd. Credit Suisse Group lowered their price objective on Palo Alto Networks from $185.00 to $160.00 in a research report on Sunday, December 9th. Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $240.00 price objective for the company. in a research report on Tuesday, February 26th. Raymond James reiterated a “buy” rating on shares of Palo Alto Networks in a research report on Sunday, December 2nd. Finally, BMO Capital Markets upgraded Palo Alto Networks from a “market perform” rating to an “outperform” rating and set a $240.00 price objective for the company in a research report on Tuesday, January 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $267.37.

In related news, Director Carl M. Eschenbach sold 3,385 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $241.90, for a total value of $818,831.50. Following the sale, the director now directly owns 4,359 shares of the company’s stock, valued at $1,054,442.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jean Compeau sold 1,701 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $235.37, for a total value of $400,364.37. Following the completion of the sale, the chief accounting officer now directly owns 23,836 shares in the company, valued at $5,610,279.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,652 shares of company stock worth $45,891,526. 3.10% of the stock is owned by insiders.

Shares of Palo Alto Networks stock opened at $241.36 on Monday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.31. The company has a market cap of $22.47 billion, a P/E ratio of -438.84, a price-to-earnings-growth ratio of 12.48 and a beta of 0.86. Palo Alto Networks Inc has a 52 week low of $160.08 and a 52 week high of $260.63.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Tuesday, February 26th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.29. The company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $682.32 million. Palo Alto Networks had a positive return on equity of 4.69% and a negative net margin of 3.47%. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. On average, equities analysts predict that Palo Alto Networks Inc will post 0.82 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Stone Ridge Asset Management LLC Takes $2.57 Million Position in Palo Alto Networks Inc (PANW)” was first posted by Week Herald and is the sole property of of Week Herald. If you are viewing this story on another site, it was copied illegally and reposted in violation of international copyright and trademark laws. The correct version of this story can be viewed at https://weekherald.com/2019/03/18/stone-ridge-asset-management-llc-takes-2-57-million-position-in-palo-alto-networks-inc-panw.html.

About Palo Alto Networks

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.

Recommended Story: Market Capitalization in the Stock Market

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks Inc (NYSE:PANW).

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

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.