LS Investment Advisors LLC Holds Position in Palo Alto Networks, Inc. (PANW)
LS Investment Advisors LLC held its stake in Palo Alto Networks, Inc. (NYSE:PANW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 860 shares of the network technology company’s stock at the end of the second quarter. LS Investment Advisors LLC’s holdings in Palo Alto Networks were worth $115,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its position in shares of Palo Alto Networks by 5,177.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock worth $55,958,000 after buying an additional 487,200 shares during the period. Hunt Lane Capital LP acquired a new position in shares of Palo Alto Networks during the first quarter worth approximately $42,818,000. Renaissance Technologies LLC raised its position in shares of Palo Alto Networks by 16.7% in the first quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock worth $242,578,000 after buying an additional 307,800 shares during the period. American Century Companies Inc. acquired a new position in shares of Palo Alto Networks during the first quarter worth approximately $32,134,000. Finally, Pictet Asset Management Ltd. raised its position in shares of Palo Alto Networks by 100.7% in the first quarter. Pictet Asset Management Ltd. now owns 552,800 shares of the network technology company’s stock worth $62,290,000 after buying an additional 277,300 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.
Palo Alto Networks, Inc. (PANW) traded up 0.88% during trading on Friday, reaching $128.84. The company’s stock had a trading volume of 688,143 shares. Palo Alto Networks, Inc. has a 52-week low of $107.31 and a 52-week high of $165.69. The firm has a 50 day moving average price of $135.30 and a 200-day moving average price of $128.34. The stock’s market cap is $11.83 billion.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.06. Palo Alto Networks had a negative return on equity of 23.77% and a negative net margin of 14.38%. The firm had revenue of $431.80 million for the quarter, compared to analyst estimates of $412.11 million. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue was up 24.9% on a year-over-year basis. On average, analysts expect that Palo Alto Networks, Inc. will post $2.59 earnings per share for the current year.
A number of research analysts have recently commented on the company. ValuEngine upgraded Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Saturday. BidaskClub lowered Palo Alto Networks from a “sell” rating to a “strong sell” rating in a report on Friday. Vetr upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $138.40 price target for the company in a report on Monday, July 31st. Citigroup Inc. upgraded Palo Alto Networks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $147.00 to $160.00 in a report on Friday, July 7th. Finally, Northland Securities assumed coverage on Palo Alto Networks in a report on Thursday, June 29th. They set an “outperform” rating and a $175.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $150.94.
In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $137.97, for a total value of $4,139,100.00. Following the sale, the director now owns 271,645 shares in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.80% of the company’s stock.
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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