Janus Henderson Group PLC Increases Position in Palo Alto Networks Inc (NYSE:PANW)
Janus Henderson Group PLC grew its holdings in Palo Alto Networks Inc (NYSE:PANW) by 291.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 95,321 shares of the network technology company’s stock after buying an additional 71,000 shares during the quarter. Janus Henderson Group PLC owned approximately 0.10% of Palo Alto Networks worth $19,586,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PANW. Tradewinds Capital Management LLC grew its holdings in shares of Palo Alto Networks by 12.0% in the second quarter. Tradewinds Capital Management LLC now owns 2,330 shares of the network technology company’s stock worth $479,000 after acquiring an additional 250 shares during the period. Profund Advisors LLC grew its holdings in Palo Alto Networks by 21.8% during the first quarter. Profund Advisors LLC now owns 1,804 shares of the network technology company’s stock valued at $327,000 after purchasing an additional 323 shares during the period. Trust Co. of Vermont grew its holdings in Palo Alto Networks by 107.7% during the first quarter. Trust Co. of Vermont now owns 671 shares of the network technology company’s stock valued at $121,000 after purchasing an additional 348 shares during the period. Exane Derivatives grew its holdings in Palo Alto Networks by 5.1% during the second quarter. Exane Derivatives now owns 7,207 shares of the network technology company’s stock valued at $1,480,000 after purchasing an additional 349 shares during the period. Finally, CIBC World Markets Inc. grew its holdings in Palo Alto Networks by 5.0% during the second quarter. CIBC World Markets Inc. now owns 7,378 shares of the network technology company’s stock valued at $1,516,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 80.65% of the company’s stock.
Several research firms have issued reports on PANW. UBS Group raised Palo Alto Networks to a “neutral” rating in a report on Wednesday. Zacks Investment Research downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Argus boosted their price objective on Palo Alto Networks to $275.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Citigroup boosted their target price on Palo Alto Networks from $237.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Finally, Rosenblatt Securities boosted their target price on Palo Alto Networks to $280.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. Palo Alto Networks currently has a consensus rating of “Buy” and a consensus target price of $239.86.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Thursday, September 6th. The network technology company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $658.10 million during the quarter, compared to analyst estimates of $634.14 million. Palo Alto Networks had a negative return on equity of 4.12% and a negative net margin of 6.51%. Palo Alto Networks’s revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. As a group, equities research analysts predict that Palo Alto Networks Inc will post 0.61 earnings per share for the current fiscal year.
In other news, EVP Nir Zuk sold 30,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $225.36, for a total transaction of $6,760,800.00. Following the completion of the sale, the executive vice president now owns 1,149,915 shares in the company, valued at approximately $259,144,844.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 4,925 shares of the firm’s stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $209.90, for a total value of $1,033,757.50. Following the completion of the transaction, the executive vice president now owns 386,631 shares of the company’s stock, valued at approximately $81,153,846.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,447 shares of company stock valued at $58,220,874. 4.80% of the stock is owned by company insiders.
Palo Alto Networks Profile
Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.
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