Scott & Selber Inc. trimmed its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,557 shares of the network technology company’s stock after selling 472 shares during the quarter. Palo Alto Networks makes up about 1.9% of Scott & Selber Inc.’s investment portfolio, making the stock its 18th biggest position. Scott & Selber Inc.’s holdings in Palo Alto Networks were worth $3,119,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of PANW. Renaissance Technologies LLC grew its stake in shares of Palo Alto Networks by 24.8% during the third quarter. Renaissance Technologies LLC now owns 4,651,200 shares of the network technology company’s stock valued at $1,047,729,000 after purchasing an additional 925,500 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Palo Alto Networks by 3,273.4% during the third quarter. Point72 Asset Management L.P. now owns 428,421 shares of the network technology company’s stock valued at $96,506,000 after purchasing an additional 415,721 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Palo Alto Networks by 183.2% during the third quarter. Janus Henderson Group PLC now owns 269,965 shares of the network technology company’s stock valued at $60,812,000 after purchasing an additional 174,644 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of Palo Alto Networks by 2,488.1% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 154,302 shares of the network technology company’s stock valued at $29,062,000 after purchasing an additional 148,340 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Palo Alto Networks by 10.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,607,673 shares of the network technology company’s stock valued at $362,144,000 after purchasing an additional 146,447 shares during the last quarter. 80.63% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on PANW shares. Raymond James reissued a “buy” rating on shares of Palo Alto Networks in a research note on Sunday, December 2nd. BMO Capital Markets reduced their price objective on shares of Palo Alto Networks from $260.00 to $205.00 and set a “market perform” rating on the stock in a research note on Friday, November 30th. First Analysis raised shares of Palo Alto Networks from an “outperform” rating to a “strong-buy” rating and set a $240.00 price objective on the stock in a research note on Friday, November 30th. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $201.00 target price on the stock in a report on Wednesday, December 5th. Finally, Wedbush assumed coverage on shares of Palo Alto Networks in a report on Thursday, October 18th. They issued a “neutral” rating and a $225.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $244.76.
Shares of PANW stock traded up $0.39 during midday trading on Monday, hitting $225.01. 14,390 shares of the company were exchanged, compared to its average volume of 1,172,668. The company has a market capitalization of $21.31 billion, a price-to-earnings ratio of -408.78, a PEG ratio of 13.47 and a beta of 0.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.10 and a current ratio of 2.10. Palo Alto Networks Inc has a 52 week low of $148.41 and a 52 week high of $239.50.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Thursday, November 29th. The network technology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. Palo Alto Networks had a negative net margin of 5.04% and a negative return on equity of 1.72%. The business had revenue of $656.00 million during the quarter, compared to analysts’ expectations of $632.16 million. During the same quarter in the previous year, the company earned $0.74 EPS. The business’s revenue was up 30.7% on a year-over-year basis. Sell-side analysts forecast that Palo Alto Networks Inc will post 0.71 EPS for the current year.
In other Palo Alto Networks news, Director Stanley J. Meresman sold 1,958 shares of Palo Alto Networks stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $177.48, for a total value of $347,505.84. Following the completion of the sale, the director now owns 1,658 shares in the company, valued at approximately $294,261.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Rene Bonvanie sold 9,330 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $200.00, for a total transaction of $1,866,000.00. Following the completion of the transaction, the chief marketing officer now owns 45,785 shares of the company’s stock, valued at $9,157,000. The disclosure for this sale can be found here. Insiders sold a total of 157,024 shares of company stock valued at $31,265,111 in the last quarter. Corporate insiders own 3.10% of the company’s stock.
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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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