Mackenzie Financial Corp Sells 338 Shares of Palo Alto Networks Inc (NYSE:PANW)

Mackenzie Financial Corp lowered its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 19.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,367 shares of the network technology company’s stock after selling 338 shares during the period. Mackenzie Financial Corp’s holdings in Palo Alto Networks were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Palo Alto Networks by 2.2% in the second quarter. Vanguard Group Inc. now owns 8,343,076 shares of the network technology company’s stock worth $1,699,985,000 after buying an additional 179,388 shares during the period. BlackRock Inc. increased its holdings in shares of Palo Alto Networks by 4.2% in the second quarter. BlackRock Inc. now owns 5,683,627 shares of the network technology company’s stock worth $1,158,096,000 after buying an additional 230,170 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Palo Alto Networks by 13.2% in the second quarter. Renaissance Technologies LLC now owns 5,074,350 shares of the network technology company’s stock worth $1,033,950,000 after buying an additional 590,200 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Palo Alto Networks by 2.9% in the first quarter. Clearbridge Investments LLC now owns 2,734,047 shares of the network technology company’s stock worth $664,045,000 after buying an additional 77,503 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Palo Alto Networks by 10.1% in the second quarter. Morgan Stanley now owns 1,568,639 shares of the network technology company’s stock worth $319,627,000 after buying an additional 144,406 shares during the period. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Shares of NYSE:PANW opened at $210.42 on Friday. Palo Alto Networks Inc has a 1 year low of $160.08 and a 1 year high of $260.63. The company has a market cap of $20.31 billion, a PE ratio of 387.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.78 and a quick ratio of 1.78. The stock’s 50-day moving average is $207.11 and its 200 day moving average is $218.40.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). Palo Alto Networks had a negative net margin of 2.82% and a positive return on equity of 4.82%. The business had revenue of $805.80 million for the quarter, compared to analysts’ expectations of $803.56 million. During the same quarter in the prior year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Analysts expect that Palo Alto Networks Inc will post -0.05 EPS for the current fiscal year.

Several research firms have recently commented on PANW. Wells Fargo & Co decreased their price objective on Palo Alto Networks from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. SunTrust Banks began coverage on Palo Alto Networks in a report on Wednesday, October 2nd. They issued a “buy” rating and a $246.00 price objective on the stock. BMO Capital Markets decreased their price objective on Palo Alto Networks from $250.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Credit Suisse Group lifted their price objective on Palo Alto Networks from $185.00 to $195.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Finally, ValuEngine upgraded Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $260.74.

In other Palo Alto Networks news, EVP Rene Bonvanie sold 9,611 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $220.00, for a total transaction of $2,114,420.00. Following the sale, the executive vice president now directly owns 32,082 shares of the company’s stock, valued at approximately $7,058,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $205.66, for a total value of $2,467,920.00. Following the sale, the executive vice president now directly owns 907,131 shares in the company, valued at $186,560,561.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,220 shares of company stock worth $27,600,676. 3.10% of the stock is owned by company insiders.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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

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