CI Global Investments Inc. Has $174.69 Million Stake in Palo Alto Networks, Inc. (PANW)

CI Global Investments Inc. lessened its position in Palo Alto Networks, Inc. (NYSE:PANW) by 25.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,212,274 shares of the network technology company’s stock after selling 405,563 shares during the quarter. Palo Alto Networks accounts for 3.5% of CI Global Investments Inc.’s portfolio, making the stock its 12th largest position. CI Global Investments Inc. owned about 1.32% of Palo Alto Networks worth $174,689,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sun Life Financial INC lifted its holdings in shares of Palo Alto Networks by 785.0% in the 2nd quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after acquiring an additional 887 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Palo Alto Networks in the 3rd quarter worth about $162,000. Global X Management Co. LLC lifted its holdings in shares of Palo Alto Networks by 24.4% in the 2nd quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock worth $156,000 after acquiring an additional 229 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Palo Alto Networks by 495.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after acquiring an additional 1,025 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Palo Alto Networks by 30.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after acquiring an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 77.50% of the company’s stock.

Palo Alto Networks, Inc. (PANW) traded down $1.68 during trading on Tuesday, hitting $138.67. 1,093,200 shares of the stock were exchanged, compared to its average volume of 1,738,309. Palo Alto Networks, Inc. has a fifty-two week low of $107.31 and a fifty-two week high of $165.69. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.69.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The business had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $487.53 million. During the same period in the previous year, the company earned $0.50 EPS. Palo Alto Networks’s quarterly revenue was up 27.0% compared to the same quarter last year. equities research analysts anticipate that Palo Alto Networks, Inc. will post -0.5 EPS for the current fiscal year.

In other news, insider Nir Zuk sold 28,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $148.05, for a total transaction of $4,145,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stanley J. Meresman sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $151.01, for a total transaction of $302,020.00. The disclosure for this sale can be found here. Insiders have sold 284,744 shares of company stock valued at $42,239,296 in the last ninety days. Insiders own 4.80% of the company’s stock.

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Several research analysts recently commented on the stock. Piper Jaffray Companies set a $146.00 price target on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Friday, August 25th. BidaskClub downgraded shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Maxim Group reaffirmed a “buy” rating and issued a $195.00 price target (up previously from $168.00) on shares of Palo Alto Networks in a research note on Thursday, September 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $160.00 price target on shares of Palo Alto Networks in a research note on Friday, September 1st. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $173.00 price target on shares of Palo Alto Networks in a research note on Monday, August 28th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $160.33.

Palo Alto Networks 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.

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

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