Somerset Group Lowers stake in Palo Alto Networks Inc (PANW)

Palo Alto Networks Inc (PANW) : Somerset Group reduced its stake in Palo Alto Networks Inc by 1.19% during the most recent quarter end. The investment management company now holds a total of 12,442 shares of Palo Alto Networks Inc which is valued at $1,597,553 after selling 150 shares in Palo Alto Networks Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Palo Alto Networks Inc makes up approximately 1.61% of Somerset Group’s portfolio.

Other Hedge Funds, Including , Nine Chapters Capital Management sold out all of its stake in PANW during the most recent quarter. The investment firm sold 9,000 shares of PANW which is valued $1,155,600.Ashfield Capital Partners reduced its stake in PANW by selling 55,964 shares or 74.5% in the most recent quarter. The Hedge Fund company now holds 19,151 shares of PANW which is valued at $2,402,876. Palo Alto Networks Inc makes up approx 0.18% of Ashfield Capital Partners’s portfolio.California State Teachers Retirement System boosted its stake in PANW in the latest quarter, The investment management firm added 21,214 additional shares and now holds a total of 184,062 shares of Palo Alto Networks Inc which is valued at $23,856,276. Palo Alto Networks Inc makes up approx 0.05% of California State Teachers Retirement System’s portfolio.Standard Life Investments Ltd reduced its stake in PANW by selling 107,960 shares or 25.93% in the most recent quarter. The Hedge Fund company now holds 308,331 shares of PANW which is valued at $40,412,944. Palo Alto Networks Inc makes up approx 0.18% of Standard Life Investments Ltd’s portfolio.Sigma Planning Corp boosted its stake in PANW in the latest quarter, The investment management firm added 11 additional shares and now holds a total of 2,162 shares of Palo Alto Networks Inc which is valued at $279,957. Palo Alto Networks Inc makes up approx 0.04% of Sigma Planning Corp’s portfolio.

Palo Alto Networks Inc opened for trading at $137.31 and hit $139.1 on the upside on Wednesday, eventually ending the session at $136.1, with a gain of 0.37% or 0.5 points. The heightened volatility saw the trading volume jump to 17,78,595 shares. Company has a market cap of $12,195 M.

On the company’s financial health, Palo Alto Networks Inc reported $0.42 EPS for the quarter, based on the information available during the earnings call on May 26, 2016. Analyst had a consensus estimate of $0.42. The company had revenue of $345.80 million for the quarter, compared to analysts expectations of $339.86 million. The company’s revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Many Wall Street Analysts have commented on Palo Alto Networks Inc. Shares were Reiterated by Dougherty & Company on May 27, 2016 to “Buy” and Lowered the Price Target to $ 200 from a previous price target of $215 .Shares were Reiterated by RBC Capital Mkts on May 27, 2016 to “Outperform” and Lowered the Price Target to $ 185 from a previous price target of $195 .Palo Alto Networks Inc was Downgraded by Needham to ” Hold” on May 27, 2016.

Palo Alto Networks Inc. is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall its Advanced Endpoint Protection and its Threat Intelligence Cloud. The Company’s 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. Its Advanced Endpoint Protection prevents cyber-attacks that aim to exploit software vulnerabilities on a range of fixed and virtual endpoints and servers. The Company’s Threat Intelligence Cloud provides central intelligence capabilities security for software as a service (SaaS) applications and automated delivery of preventative measures against cyber-attacks. The Company’s PAN-OS operating system contains App-ID User-ID site-to-site virtual private network (VPN) remote access secure sockets layer (SSL) VPN and Quality-of-Service (QoS).

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