CI Investments Inc. bought a new position in shares of Palo Alto Networks, Inc. (NYSE:PANW) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 152,512 shares of the network technology company’s stock, valued at approximately $21,977,000. CI Investments Inc. owned approximately 0.17% of Palo Alto Networks at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Sun Life Financial INC grew its holdings in Palo Alto Networks by 785.0% during the 2nd quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after acquiring an additional 887 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of Palo Alto Networks in the 3rd quarter valued at about $162,000. Global X Management Co. LLC boosted its holdings in shares of Palo Alto Networks by 24.4% in the 2nd quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock valued at $156,000 after buying an additional 229 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Palo Alto Networks by 495.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock valued at $178,000 after buying an additional 1,025 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Palo Alto Networks by 30.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock valued at $188,000 after buying an additional 322 shares in the last quarter. Institutional investors own 77.50% of the company’s stock.
Palo Alto Networks, Inc. (NYSE:PANW) traded down $1.68 during mid-day trading on Tuesday, hitting $138.67. 1,093,200 shares of the company were exchanged, compared to its average volume of 1,738,309. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.65 and a current ratio of 1.65. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $165.69.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $487.53 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. analysts anticipate that Palo Alto Networks, Inc. will post -0.5 EPS for the current year.
In related news, insider Nir Zuk sold 28,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $148.05, for a total transaction of $4,145,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Mark Anderson sold 44,429 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $143.10, for a total transaction of $6,357,789.90. Following the sale, the president now owns 176,290 shares in the company, valued at $25,227,099. The disclosure for this sale can be found here. Insiders have sold 284,744 shares of company stock worth $42,239,296 over the last 90 days. Insiders own 4.80% of the company’s stock.
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A number of research firms have recently weighed in on PANW. Zacks Investment Research cut shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a report on Monday. Imperial Capital upgraded shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $137.00 to $165.00 in a research note on Tuesday, September 5th. BidaskClub upgraded shares of Palo Alto Networks from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. Argus upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $183.00 target price for the company in a research note on Tuesday, September 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $180.00 target price on shares of Palo Alto Networks in a research note on Tuesday, September 5th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have given a buy rating to the company. Palo Alto Networks currently has an average rating of “Buy” and a consensus price target of $160.33.
About Palo Alto Networks
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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