KBC Group NV boosted its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 172.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 147,300 shares of the network technology company’s stock after buying an additional 93,183 shares during the period. KBC Group NV’s holdings in Palo Alto Networks were worth $21,349,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Cerebellum GP LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth approximately $127,000. Penserra Capital Management LLC acquired a new stake in Palo Alto Networks during the 3rd quarter worth approximately $162,000. Benjamin F. Edwards & Company Inc. raised its holdings in Palo Alto Networks by 495.2% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after buying an additional 1,025 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth approximately $192,000. Finally, Shelton Capital Management acquired a new stake in Palo Alto Networks during the 2nd quarter worth approximately $201,000. Hedge funds and other institutional investors own 79.18% of the company’s stock.
A number of analysts have recently issued reports on the stock. KeyCorp lifted their price objective on shares of Palo Alto Networks from $170.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, February 5th. Zacks Investment Research downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Deutsche Bank upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Tuesday, January 23rd. Goldman Sachs Group downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and set a $168.00 price objective on the stock. in a report on Monday, January 22nd. Finally, Evercore ISI upgraded shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and set a $180.00 price objective on the stock in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirty-four have assigned a buy rating to the company. Palo Alto Networks presently has an average rating of “Buy” and a consensus price target of $167.39.
Palo Alto Networks Inc (NYSE:PANW) opened at $153.87 on Monday. Palo Alto Networks Inc has a 52-week low of $107.31 and a 52-week high of $160.83.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The firm had revenue of $505.50 million during the quarter, compared to analysts’ expectations of $489.36 million. During the same period in the previous year, the business posted $0.55 earnings per share. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. research analysts predict that Palo Alto Networks Inc will post -0.37 earnings per share for the current year.
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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