BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $8.62 Million Position in Palo Alto Networks Inc (PANW)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 21.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 38,250 shares of the network technology company’s stock after selling 10,385 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Palo Alto Networks were worth $8,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Aperio Group LLC lifted its stake in Palo Alto Networks by 28.4% in the second quarter. Aperio Group LLC now owns 31,839 shares of the network technology company’s stock valued at $6,542,000 after buying an additional 7,049 shares during the last quarter. Smith Asset Management Group LP increased its holdings in shares of Palo Alto Networks by 21.4% during the second quarter. Smith Asset Management Group LP now owns 187,690 shares of the network technology company’s stock valued at $38,565,000 after purchasing an additional 33,090 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Palo Alto Networks during the second quarter valued at $2,342,000. Chevy Chase Trust Holdings Inc. increased its holdings in shares of Palo Alto Networks by 29.4% during the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,600 shares of the network technology company’s stock valued at $329,000 after purchasing an additional 364 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Palo Alto Networks by 2,475.0% during the second quarter. CIBC Private Wealth Group LLC now owns 515 shares of the network technology company’s stock valued at $106,000 after purchasing an additional 495 shares during the period. 80.83% of the stock is owned by institutional investors.

NYSE:PANW opened at $175.09 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 1.93. Palo Alto Networks Inc has a 1-year low of $142.67 and a 1-year high of $239.50. The firm has a market capitalization of $16.82 billion, a P/E ratio of -318.35, a P/E/G ratio of 10.63 and a beta of 1.14.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Thursday, November 29th. The network technology company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. Palo Alto Networks had a negative return on equity of 1.72% and a negative net margin of 5.04%. The business had revenue of $656.00 million during the quarter, compared to analyst estimates of $632.16 million. During the same quarter last year, the company posted $0.74 EPS. Palo Alto Networks’s revenue for the quarter was up 30.7% on a year-over-year basis. Research analysts expect that Palo Alto Networks Inc will post 0.71 EPS for the current fiscal year.

In related news, Director Stanley J. Meresman sold 1,958 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $177.48, for a total value of $347,505.84. Following the completion of the transaction, the director now owns 1,658 shares in the company, valued at approximately $294,261.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $235.24, for a total value of $9,409,600.00. The disclosure for this sale can be found here. Insiders sold a total of 256,669 shares of company stock valued at $55,480,042 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

A number of research analysts have recently commented on the company. KeyCorp raised their price target on Palo Alto Networks from $245.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, September 7th. Rosenblatt Securities raised their price target on Palo Alto Networks to $280.00 and gave the company a “buy” rating in a report on Friday, September 7th. Monness Crespi & Hardt raised their price target on Palo Alto Networks from $235.00 to $265.00 and gave the company a “buy” rating in a report on Friday, September 7th. Jefferies Financial Group raised their price target on Palo Alto Networks to $267.00 and gave the company a “buy” rating in a report on Friday, September 7th. Finally, CIBC raised their price target on Palo Alto Networks from $235.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $239.94.

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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.

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

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