Mackenzie Financial Corp purchased a new position in Palo Alto Networks (NYSE:PANW) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,755 shares of the network technology company’s stock, valued at approximately $254,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Norway Savings Bank grew its stake in shares of Palo Alto Networks by 96.2% in the fourth quarter. Norway Savings Bank now owns 3,130 shares of the network technology company’s stock worth $454,000 after acquiring an additional 1,535 shares during the last quarter. Green Square Capital LLC lifted its holdings in shares of Palo Alto Networks by 30.4% during the third quarter. Green Square Capital LLC now owns 4,027 shares of the network technology company’s stock valued at $580,000 after acquiring an additional 939 shares during the period. AXA lifted its holdings in shares of Palo Alto Networks by 12.0% during the third quarter. AXA now owns 119,513 shares of the network technology company’s stock valued at $17,222,000 after acquiring an additional 12,826 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Palo Alto Networks during the third quarter valued at $333,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Palo Alto Networks during the third quarter valued at $544,000. 82.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Stanley J. Meresman sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $159.00, for a total transaction of $318,000.00. Following the completion of the transaction, the director now directly owns 13,834 shares in the company, valued at $2,199,606. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark D. Mclaughlin sold 55,000 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $180.52, for a total value of $9,928,600.00. Following the transaction, the chief executive officer now owns 341,418 shares of the company’s stock, valued at $61,632,777.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 230,960 shares of company stock worth $40,083,399. 4.80% of the stock is currently owned by corporate insiders.
Shares of PANW traded down $2.56 during mid-day trading on Friday, hitting $193.84. The stock had a trading volume of 2,030,935 shares, compared to its average volume of 1,527,249. The firm has a market cap of $17,381.37, a PE ratio of -113.36 and a beta of 0.93. Palo Alto Networks has a 52 week low of $107.37 and a 52 week high of $197.20.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Monday, February 26th. The network technology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.19). Palo Alto Networks had a negative net margin of 9.96% and a negative return on equity of 14.74%. The company had revenue of $542.40 million for the quarter, compared to the consensus estimate of $525.37 million. equities analysts forecast that Palo Alto Networks will post -0.37 EPS for the current year.
A number of research analysts recently issued reports on the company. ValuEngine raised Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Monday. Monness Crespi & Hardt boosted their price objective on Palo Alto Networks from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, March 22nd. Royal Bank of Canada boosted their target price on Palo Alto Networks to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Wells Fargo restated an “outperform” rating and set a $215.00 target price (up from $185.00) on shares of Palo Alto Networks in a research report on Tuesday, February 27th. Finally, Citigroup boosted their price objective on Palo Alto Networks from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirty-nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $181.86.
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Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.
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