Palo Alto Networks, Inc. (NYSE:PANW) Downgraded by BidaskClub to "Hold"

Paterniano Del Favero
Agosto 9, 2017

Topeka Capital Markets maintained Palo Alto Networks Inc (NYSE:PANW) on Friday, February 26 with "Buy" rating. "(NYSE:PANW) PT at $149.49" was first posted by Transcript Daily and is the sole property of of Transcript Daily. The fund owned 6,944 shares of the network technology company's stock after selling 3,434 shares during the period. OLD National Bancorp IN bought a new position in Palo Alto Networks during the second quarter valued at approximately $201,000.

Several other institutional investors also recently made changes to their positions in the company.

Scge Management L.P. holds 9.38% of its portfolio in Palo Alto Networks Inc for 225,000 shares.

Shares of Palo Alto Networks (NYSE:PANW) traded down 0.50% during trading on Friday, reaching $130.33. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company's stock worth $8,760,000 after buying an additional 1,163,306 shares during the last quarter. WFG Advisors LP raised its stake in shares of Palo Alto Networks by 5.9% in the first quarter. LLC now owns 939 shares of the network technology company's stock valued at $106,000 after buying an additional 227 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in shares of Palo Alto Networks by 76.4% in the first quarter. CI Global Investments Inc. now owns 1,580,240 shares of the network technology company's stock worth $178,061,000 after buying an additional 234,623 shares during the period. Integrated Investment Consultants LLC purchased a new position in Palo Alto Networks during the first quarter valued at about $120,000. Malaga Cove Capital LLC's holdings in Palo Alto Networks were worth $1,532,000 at the end of the most recent reporting period.

Palo Alto Networks will soon be the first cybersecurity company in the world to sign a Data Exchange Agreement with the INTERPOL Global Complex for Innovation (IGCI), which the company says is a major step towards information sharing. (NYSE:PANW) traded down 0.4953% on Tuesday, hitting $130.3312. The firm has a 50-day moving average of $136.07 and a 200 day moving average of $128.68. The company has market cap of $11.90 billion.

Cullen Frost Bankers Inc. cut its stake in Palo Alto Networks, Inc. Cadian Mngmt Limited Partnership holds 4.81% in Palo Alto Networks Inc (NYSE:PANW) or 723,000 shares. The network technology company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.06. The business had revenue of $431.80 million during the quarter, compared to analysts' expectations of $412.11 million. Sfe Counsel has invested 1.32% in Palo Alto Networks Inc (NYSE:PANW). The business's quarterly revenue was up 24.9% compared to the same quarter previous year. During the same quarter in the prior year, the business posted $0.42 earnings per share. Analysts anticipate that Palo Alto Networks, Inc. will post $2.59 EPS for the current fiscal year.

Longwood Capital Partners Llc increased Veracyte Inc (VCYT) stake by 11.72% reported in 2016Q4 SEC filing. If you are viewing this report on another publication, it was stolen and reposted in violation of worldwide trademark & copyright legislation.

Among 49 analysts covering Palo Alto Networks (NYSE:PANW), 32 have Buy rating, 1 Sell and 16 Hold. The stock's average target of $152 is 16.66% above today's ($130.29) share price. BidaskClub lowered Palo Alto Networks from a "hold" rating to a "sell" rating in a research report on Wednesday, August 2nd. On Wednesday, June 7 the stock rating was initiated by Susquehanna with "Neutral". Monness Crespi & Hardt started coverage on shares of Palo Alto Networks in a research report on Thursday, April 6th. It turned negative, as 57 investors sold Palo Alto Networks Inc shares while 159 reduced holdings. Palo Alto Networks now has a consensus rating of "Buy" and a consensus price target of $150.94.

In related news, Director James J. Goetz sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, July 10th. Following the transaction, the director now directly owns 271,645 shares of the company's stock, valued at $37,478,860.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. Hedge funds and other institutional investors own 80.46% of the company's stock. Palo Alto Networks will be involved in the operational briefings at INTERPOL and vice versa. 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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