Palo Alto Networks, Inc. (PANW) Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 622,570 shares of the network technology company’s stock after buying an additional 30,136 shares during the period. Geode Capital Management LLC’s holdings in Palo Alto Networks were worth $70,123,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Palo Alto Networks by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,007,233 shares of the network technology company’s stock worth $789,575,000 after buying an additional 263,433 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Palo Alto Networks by 24.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,845,000 shares of the network technology company’s stock valued at $230,717,000 after buying an additional 362,900 shares during the period. CI Global Investments Inc. boosted its stake in shares of Palo Alto Networks by 17.4% in the first quarter. CI Global Investments Inc. now owns 1,580,240 shares of the network technology company’s stock valued at $178,061,000 after buying an additional 234,623 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Palo Alto Networks by 33.8% in the first quarter. Canada Pension Plan Investment Board now owns 807,113 shares of the network technology company’s stock valued at $90,945,000 after buying an additional 203,802 shares during the period. Finally, Pictet Asset Management Ltd. boosted its stake 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 valued at $62,290,000 after buying an additional 277,300 shares during the period. 80.60% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Palo Alto Networks, Inc. (PANW) traded up 1.32% on Tuesday, hitting $134.75. The stock had a trading volume of 1,211,573 shares. Palo Alto Networks, Inc. has a 1-year low of $107.31 and a 1-year high of $165.69. The stock’s market cap is $12.37 billion. The firm’s 50-day moving average is $120.12 and its 200 day moving average is $127.20.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.55 by $0.06. The firm had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $412.11 million. Palo Alto Networks had a negative return on equity of 23.77% and a negative net margin of 14.38%. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. Equities analysts forecast that Palo Alto Networks, Inc. will post $2.59 EPS for the current year.

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Several research firms have recently commented on PANW. Zacks Investment Research lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Monday, February 13th. BMO Capital Markets lifted their price target on Palo Alto Networks from $150.00 to $160.00 and gave the stock a “market perform” rating in a report on Monday, February 27th. Imperial Capital reiterated an “outperform” rating and set a $180.00 price target on shares of Palo Alto Networks in a report on Friday, February 24th. Jefferies Group LLC reduced their price target on Palo Alto Networks to $130.00 in a report on Wednesday, March 1st. Finally, Deutsche Bank AG reduced their price target on Palo Alto Networks from $150.00 to $125.00 and set a “hold” rating on the stock in a report on Wednesday, March 1st. Nineteen analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $150.53.

Palo Alto Networks Company Profile

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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