ClariVest Asset Management LLC Takes $18.99 Million Position in Palo Alto Networks Inc (PANW)

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ClariVest Asset Management LLC acquired a new stake in shares of Palo Alto Networks Inc (NYSE:PANW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 100,828 shares of the network technology company’s stock, valued at approximately $18,990,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. HCR Wealth Advisors boosted its stake in Palo Alto Networks by 0.8% during the 4th quarter. HCR Wealth Advisors now owns 6,110 shares of the network technology company’s stock valued at $1,151,000 after acquiring an additional 50 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Palo Alto Networks by 26.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 262 shares of the network technology company’s stock valued at $49,000 after acquiring an additional 55 shares during the last quarter. CENTRAL TRUST Co boosted its stake in Palo Alto Networks by 7.5% during the 4th quarter. CENTRAL TRUST Co now owns 801 shares of the network technology company’s stock valued at $151,000 after acquiring an additional 56 shares during the last quarter. Trust Co. of Vermont boosted its stake in Palo Alto Networks by 8.5% during the 4th quarter. Trust Co. of Vermont now owns 1,022 shares of the network technology company’s stock valued at $192,000 after acquiring an additional 80 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its stake in Palo Alto Networks by 8.4% during the 4th quarter. Wedbush Securities Inc. now owns 1,197 shares of the network technology company’s stock valued at $225,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 80.37% of the company’s stock.

A number of research analysts have commented on PANW shares. Credit Suisse Group reduced their price objective on shares of Palo Alto Networks from $185.00 to $160.00 in a research note on Sunday, December 9th. ValuEngine downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 29th. Gabelli upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $207.00 price objective on the stock in a research note on Friday, November 30th. Maxim Group increased their price objective on shares of Palo Alto Networks from $274.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, November 30th. Finally, Jefferies Financial Group reduced their price objective on shares of Palo Alto Networks from $267.00 to $249.00 and set a “buy” rating on the stock in a research note on Friday, November 30th. One equities research 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 given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $244.76.

PANW stock opened at $224.62 on Monday. 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 fifty-two week low of $148.41 and a fifty-two week high of $239.50. The stock has a market capitalization of $21.31 billion, a P/E ratio of -408.40, a PEG ratio of 13.47 and a beta of 0.91.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, November 29th. The network technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to analysts’ expectations of $632.16 million. During the same quarter last year, the company earned $0.74 EPS. The company’s revenue for the quarter was up 30.7% compared to the same quarter last year. As a group, research analysts forecast that Palo Alto Networks Inc will post 0.71 earnings per share for the current fiscal year.

In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $216.37, for a total transaction of $8,654,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $177.48, for a total transaction of $5,324,400.00. Following the transaction, the executive vice president now directly owns 1,076,683 shares in the company, valued at approximately $191,089,698.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,024 shares of company stock worth $31,265,111. Corporate insiders own 3.10% of the company’s stock.

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Palo Alto Networks 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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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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