Trade Report: Today, Premier Asset Managment LLC sells partial stakes of Palo Alto Networks Inc. (PANW)

Today, Premier Asset Managment LLC sells partial stakes of Palo Alto Networks Inc. (PANW)

Premier Asset Managment LLC reduced its stake in Palo Alto Networks Inc. (NYSE:PANW) by 1.7% during the third quarter, Holdings Channel reports. The institutional investor owned 78,386 shares of the network technology company’s stock after selling 1,325 shares during the period. Palo Alto Networks comprises about 3.1% of Premier Asset Managment LLC’s investment portfolio, making the stock its 11th largest position. Premier Asset Managment LLC’s holdings in Palo Alto Networks were worth $12,489,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PANW. Fox Run Management L.L.C. bought a new stake in shares of Palo Alto Networks during the second quarter valued at approximately $319,000. Arcadia Investment Management Corp MI raised its stake in shares of Palo Alto Networks by 1.4% in the second quarter. Arcadia Investment Management Corp MI now owns 40,752 shares of the network technology company’s stock valued at $4,998,000 after buying an additional 562 shares in the last quarter. Heritage Investors Management Corp bought a new stake in shares of Palo Alto Networks during the second quarter valued at approximately $724,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Palo Alto Networks by 63.9% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,800 shares of the network technology company’s stock valued at $1,447,000 after buying an additional 4,600 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Palo Alto Networks by 23.2% in the second quarter. Capstone Asset Management Co. now owns 1,914 shares of the network technology company’s stock valued at $235,000 after buying an additional 360 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of Palo Alto Networks Inc. (NYSE:PANW) traded down 3.49% during trading on Monday, hitting $136.57. 2,720,859 shares of the stock traded hands. The stock has a 50 day moving average of $152.25 and a 200 day moving average of $140.32. Palo Alto Networks Inc. has a 52-week low of $111.09 and a 52-week high of $194.73. The firm’s market cap is $12.26 billion.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, November 21st. The network technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. Palo Alto Networks had a negative return on equity of 35.75% and a negative net margin of 16.83%. The company had revenue of $398.10 million for the quarter, compared to analyst estimates of $400.20 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. Analysts expect that Palo Alto Networks Inc. will post $2.78 EPS for the current year.

Several analysts have commented on the stock. Royal Bank Of Canada lowered their price objective on shares of Palo Alto Networks from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 22nd. RBC Capital Markets reduced their target price on shares of Palo Alto Networks from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, November 22nd. BTIG Research reiterated a “buy” rating and issued a $190.00 target price on shares of Palo Alto Networks in a research note on Tuesday, November 22nd. Barclays PLC reduced their target price on shares of Palo Alto Networks from $200.00 to $175.00 and set an “overweight” rating for the company in a research note on Tuesday, November 22nd. Finally, JMP Securities reduced their target price on shares of Palo Alto Networks from $180.00 to $175.00 and set a “market outperform” rating for the company in a research note on Tuesday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and an average target price of $180.15.

In other Palo Alto Networks news, CEO Mark D. Mclaughlin sold 26,423 shares of Palo Alto Networks stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $144.29, for a total value of $3,812,574.67. Following the transaction, the chief executive officer now owns 540,880 shares in the company, valued at $78,043,575.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Warmenhoven sold 1,950 shares of Palo Alto Networks stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $159.61, for a total value of $311,239.50. Following the completion of the transaction, the director now owns 530 shares in the company, valued at approximately $84,593.30. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s 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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