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.
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.
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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.
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