Commerzbank Aktiengesellschaft FI Lowers Holdings in Palo Alto Networks, Inc. (PANW)

Commerzbank Aktiengesellschaft FI decreased its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 30.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,921 shares of the network technology company’s stock after selling 7,946 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Palo Alto Networks were worth $2,582,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PANW. Sun Life Financial INC increased its stake in shares of Palo Alto Networks by 785.0% in the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after purchasing an additional 887 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Palo Alto Networks by 24.4% in the second quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock worth $156,000 after purchasing an additional 229 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Palo Alto Networks in the third quarter worth about $162,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Palo Alto Networks by 495.2% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Palo Alto Networks by 30.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after purchasing an additional 322 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

PANW has been the subject of several recent research reports. Piper Jaffray Companies set a $146.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Friday, August 25th. Jefferies Group lifted their target price on shares of Palo Alto Networks from $155.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, September 1st. BTIG Research reiterated a “buy” rating and issued a $175.00 target price on shares of Palo Alto Networks in a research note on Thursday, August 31st. Citigroup reiterated a “buy” rating and issued a $168.00 target price (up previously from $160.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $165.00 target price (up previously from $158.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-three have assigned a buy rating to the company. Palo Alto Networks currently has a consensus rating of “Buy” and an average price target of $162.84.

Palo Alto Networks, Inc. (PANW) traded up $0.18 during mid-day trading on Tuesday, reaching $143.07. 366,684 shares of the company’s stock were exchanged, compared to its average volume of 1,774,740. Palo Alto Networks, Inc. has a fifty-two week low of $107.31 and a fifty-two week high of $157.65.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results 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 business had revenue of $505.50 million during the quarter, compared to analysts’ expectations of $489.36 million. During the same quarter in the previous year, the company earned $0.55 EPS. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. sell-side analysts expect that Palo Alto Networks, Inc. will post -0.37 earnings per share for the current year.

In other news, CMO Rene Bonvanie sold 16,596 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $151.83, for a total value of $2,519,770.68. Following the completion of the sale, the chief marketing officer now directly owns 95,584 shares in the company, valued at approximately $14,512,518.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark D. Mclaughlin sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $149.85, for a total transaction of $3,746,250.00. Following the completion of the sale, the chief executive officer now owns 374,919 shares of the company’s stock, valued at $56,181,612.15. The disclosure for this sale can be found here. In the last three months, insiders sold 329,171 shares of company stock valued at $48,931,891. Corporate insiders own 4.80% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.chaffeybreeze.com/2017/12/05/commerzbank-aktiengesellschaft-fi-lowers-holdings-in-palo-alto-networks-inc-panw.html.

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.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NYSE:PANW).

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

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

Latest News

Leave a Reply