Avalon Global Asset Management buys $6 Million stake in Palo Alto Networks Inc (PANW)

Palo Alto Networks Inc (PANW) : Avalon Global Asset Management scooped up 7,000 additional shares in Palo Alto Networks Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 45,750 shares of Palo Alto Networks Inc which is valued at $6 Million.Palo Alto Networks Inc makes up approximately 6.33% of Avalon Global Asset Management’s portfolio.

Other Hedge Funds, Including , Friess Associates sold out all of its stake in PANW during the most recent quarter. The investment firm sold 80,000 shares of PANW which is valued $10.5 Million.Qci Asset Management Incny boosted its stake in PANW in the latest quarter, The investment management firm added 7,863 additional shares and now holds a total of 68,201 shares of Palo Alto Networks Inc which is valued at $8.9 Million. Palo Alto Networks Inc makes up approx 1.32% of Qci Asset Management Incny’s portfolio. Barometer Capital Management added PANW to its portfolio by purchasing 21,400 company shares during the most recent quarter which is valued at $2.8 Million. Palo Alto Networks Inc makes up approx 0.26% of Barometer Capital Management’s portfolio.Neuberger Berman Group boosted its stake in PANW in the latest quarter, The investment management firm added 36,613 additional shares and now holds a total of 93,688 shares of Palo Alto Networks Inc which is valued at $12.8 Million. Palo Alto Networks Inc makes up approx 0.02% of Neuberger Berman Group’s portfolio.

Palo Alto Networks Inc closed down -0.42 points or -0.29% at $145.69 with 15,29,291 shares getting traded on Wednesday. Post opening the session at $146.37, the shares hit an intraday low of $143.39 and an intraday high of $147.42 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Palo Alto Networks Inc reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $0.39. The company had revenue of $334.70 million for the quarter, compared to analysts expectations of $318.45 million. The company’s revenue was up 53.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on Palo Alto Networks Inc. Shares were Reiterated by Piper Jaffray on May 12, 2016 to “Overweight” and Lowered the Price Target to $ 180 from a previous price target of $208 .Wunderlich Upgraded Palo Alto Networks Inc on Apr 26, 2016 to ” Buy”, Price Target of the shares are set at $190.Company shares were Reiterated by Maxim Group on Apr 11, 2016 to “Buy”, Firm has raised the Price Target to $ 215 from a previous price target of $214 .

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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