Moors & Cabot Inc. Decreases Holdings in Palo Alto Networks, Inc. (PANW)

Moors & Cabot Inc. cut its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 35.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,871 shares of the network technology company’s stock after selling 1,050 shares during the period. Moors & Cabot Inc.’s holdings in Palo Alto Networks were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PANW. Dimensional Fund Advisors LP grew its position in shares of Palo Alto Networks by 6.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 88,509 shares of the network technology company’s stock valued at $9,974,000 after acquiring an additional 5,399 shares during the period. Global X Management Co. LLC grew its position in shares of Palo Alto Networks by 24.4% during the 2nd quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock valued at $156,000 after acquiring an additional 229 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Palo Alto Networks by 8.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,838 shares of the network technology company’s stock valued at $20,586,000 after acquiring an additional 11,488 shares during the period. First Trust Advisors LP grew its position in shares of Palo Alto Networks by 57.9% during the 2nd quarter. First Trust Advisors LP now owns 131,729 shares of the network technology company’s stock valued at $17,627,000 after acquiring an additional 48,283 shares during the period. Finally, State of Wisconsin Investment Board grew its position in shares of Palo Alto Networks by 18.5% during the 2nd quarter. State of Wisconsin Investment Board now owns 99,532 shares of the network technology company’s stock valued at $13,318,000 after acquiring an additional 15,543 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Shares of Palo Alto Networks, Inc. (NYSE PANW) opened at $147.26 on Friday. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $157.65.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.68 by $0.06. The business had revenue of $505.50 million for the quarter, compared to analysts’ expectations of $489.36 million. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. equities research analysts anticipate that Palo Alto Networks, Inc. will post -0.37 earnings per share for the current fiscal year.

In other news, CFO Kathleen Bonanno sold 2,831 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $150.68, for a total transaction of $426,575.08. Following the sale, the chief financial officer now directly owns 38,716 shares in the company, valued at approximately $5,833,726.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nir Zuk sold 2,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $144.76, for a total transaction of $289,520.00. The disclosure for this sale can be found here. Insiders have sold a total of 298,784 shares of company stock worth $44,595,631 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.

A number of brokerages have recently issued reports on PANW. William Blair raised shares of Palo Alto Networks from a “market perform” rating to an “outperform” rating in a research report on Monday, December 4th. Zacks Investment Research downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Imperial Capital upped their target price on shares of Palo Alto Networks from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Telsey Advisory Group upped their target price on shares of Palo Alto Networks from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Finally, Sanford C. Bernstein upped their target price on shares of Palo Alto Networks from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $162.84.

TRADEMARK VIOLATION WARNING: “Moors & Cabot Inc. Decreases Holdings in Palo Alto Networks, Inc. (PANW)” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this news story can be read at https://ledgergazette.com/2017/12/17/moors-cabot-inc-decreases-holdings-in-palo-alto-networks-inc-panw.html.

About Palo Alto Networks

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)

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply