Mackenzie Financial Corp Invests $254,000 in Palo Alto Networks (NYSE:PANW)

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.

COPYRIGHT VIOLATION WARNING: This report was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another domain, it was copied illegally and reposted in violation of United States & international trademark and copyright laws. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2018/04/07/mackenzie-financial-corp-buys-shares-of-1755-palo-alto-networks-inc-panw.html.

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.

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.

Leave a Reply