Compagnie Lombard Odier SCmA decreased its holdings in shares of Palo Alto Networks (NYSE:PANW) by 20.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 276,150 shares of the network technology company’s stock after selling 69,046 shares during the quarter. Palo Alto Networks comprises 1.4% of Compagnie Lombard Odier SCmA’s holdings, making the stock its 17th largest holding. Compagnie Lombard Odier SCmA owned approximately 0.30% of Palo Alto Networks worth $40,010,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares 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 valued at $454,000 after buying an additional 1,535 shares in the last quarter. Green Square Capital LLC grew its stake in shares of Palo Alto Networks by 30.4% in the third quarter. Green Square Capital LLC now owns 4,027 shares of the network technology company’s stock valued at $580,000 after buying an additional 939 shares in the last quarter. AXA grew its stake in shares of Palo Alto Networks by 12.0% in the third quarter. AXA now owns 119,513 shares of the network technology company’s stock valued at $17,222,000 after buying an additional 12,826 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Palo Alto Networks in the third quarter valued at $333,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Palo Alto Networks in the third quarter valued at $544,000. 82.10% of the stock is owned by institutional investors.
Shares of Palo Alto Networks stock traded up $3.49 on Thursday, hitting $190.48. The stock had a trading volume of 2,201,996 shares, compared to its average volume of 1,560,146. Palo Alto Networks has a 52-week low of $107.37 and a 52-week high of $197.20. The company has a market capitalization of $17,159.10, a P/E ratio of -111.39 and a beta of 0.93.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, February 26th. The network technology company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 firm had revenue of $542.40 million during the quarter, compared to analysts’ expectations of $525.37 million. sell-side analysts forecast that Palo Alto Networks will post -0.37 earnings per share for the current year.
PANW has been the subject of a number of research reports. BMO Capital Markets lifted their price objective on Palo Alto Networks from $170.00 to $190.00 and gave the company a “market perform” rating in a research note on Tuesday, February 27th. Zacks Investment Research raised Palo Alto Networks from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Royal Bank of Canada lifted their price objective on Palo Alto Networks to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. OTR Global raised Palo Alto Networks to a “positive” rating in a research note on Friday, February 16th. Finally, Dougherty & Co reissued a “buy” rating and set a $205.00 target price (up from $180.00) on shares of Palo Alto Networks in a research note on Tuesday, February 27th. Two investment 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 stock. The company presently has an average rating of “Buy” and a consensus price target of $181.86.
In other Palo Alto Networks news, EVP Nir Zuk sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $179.57, for a total transaction of $5,387,100.00. Following the completion of the sale, the executive vice president now directly owns 1,357,655 shares of the company’s stock, valued at approximately $243,794,108.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stanley J. Meresman sold 1,980 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $188.74, for a total value of $373,705.20. The disclosure for this sale can be found here. Insiders sold a total of 230,960 shares of company stock valued at $40,083,399 over the last three months. Company insiders own 4.80% of the company’s stock.
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Palo Alto Networks 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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