Menta Capital LLC Purchases Shares of 2,500 Palo Alto Networks, Inc. (PANW)
Menta Capital LLC purchased a new position in Palo Alto Networks, Inc. (NYSE:PANW) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,500 shares of the network technology company’s stock, valued at approximately $335,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in shares of Palo Alto Networks by 512.7% during the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock valued at $233,811,000 after purchasing an additional 1,462,162 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in Palo Alto Networks by 13,115.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock worth $8,760,000 after purchasing an additional 1,163,306 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Palo Alto Networks by 5,177.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock valued at $55,958,000 after purchasing an additional 487,200 shares during the period. Hunt Lane Capital LP bought a new stake in shares of Palo Alto Networks during the 1st quarter valued at about $42,818,000. Finally, Renaissance Technologies LLC grew its stake in shares of Palo Alto Networks by 16.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock valued at $242,578,000 after purchasing an additional 307,800 shares during the period. 77.03% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: This story was first reported by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.watchlistnews.com/menta-capital-llc-purchases-shares-of-2500-palo-alto-networks-inc-panw/1607045.html.
Palo Alto Networks, Inc. (NYSE:PANW) opened at 144.35 on Wednesday. The stock’s market capitalization is $13.26 billion. The firm’s 50-day moving average is $138.46 and its 200-day moving average is $127.97. Palo Alto Networks, Inc. has a 52 week low of $107.31 and a 52 week high of $165.69.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company had revenue of $509.00 million during the quarter, compared to analyst estimates of $487.53 million. During the same period last year, the firm earned $0.50 earnings per share. The business’s revenue was up 27.0% compared to the same quarter last year. On average, equities research analysts predict that Palo Alto Networks, Inc. will post $3.33 EPS for the current fiscal year.
Several research firms have weighed in on PANW. Evercore ISI reiterated an “in-line” rating and issued a $145.00 price target (up from $140.00) on shares of Palo Alto Networks in a research report on Friday, September 1st. UBS AG restated a “neutral” rating and issued a $146.00 price objective (up from $140.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Vetr raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $140.90 target price on the stock in a report on Monday, July 3rd. Wells Fargo & Company reiterated an “outperform” rating and set a $185.00 target price (up from $180.00) on shares of Palo Alto Networks in a research report on Friday, September 1st. Finally, Maxim Group reiterated a “buy” rating and set a $195.00 target price (up from $168.00) on shares of Palo Alto Networks in a research report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $158.89.
In other news, President Mark Anderson sold 44,429 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $143.10, for a total value of $6,357,789.90. Following the completion of the transaction, the president now owns 176,290 shares of the company’s stock, valued at $25,227,099. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nir Zuk sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $145.01, for a total transaction of $290,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,001 shares of company stock worth $11,014,834. Corporate insiders own 4.80% of the company’s stock.
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.
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 Analyst Ratings Network's FREE daily email newsletter.