Jennison Associates buys $618,052,154 stake in Palo Alto Networks Inc (PANW)

Palo Alto Networks Inc (PANW) : Jennison Associates scooped up 1,163,146 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 Aug 3, 2016. The investment management firm now holds a total of 4,768,553 shares of Palo Alto Networks Inc which is valued at $618,052,154.Palo Alto Networks Inc makes up approximately 0.65% of Jennison Associates’s portfolio.

Other Hedge Funds, Including , Great West Life Assurance Co Can boosted its stake in PANW in the latest quarter, The investment management firm added 3,556 additional shares and now holds a total of 43,207 shares of Palo Alto Networks Inc which is valued at $5,600,059. Palo Alto Networks Inc makes up approx 0.02% of Great West Life Assurance Co Can’s portfolio.Mizuho Trust Banking Ltd. boosted its stake in PANW in the latest quarter, The investment management firm added 12,436 additional shares and now holds a total of 138,396 shares of Palo Alto Networks Inc which is valued at $17,937,506. Palo Alto Networks Inc makes up approx 0.05% of Mizuho Trust Banking Ltd.’s portfolio.Welch Forbes reduced its stake in PANW by selling 205 shares or 9.1% in the most recent quarter. The Hedge Fund company now holds 2,048 shares of PANW which is valued at $265,441. Palo Alto Networks Inc makes up approx 0.01% of Welch Forbes’s portfolio.Windward Capital Management Co Ca reduced its stake in PANW by selling 19 shares or 1.11% in the most recent quarter. The Hedge Fund company now holds 1,696 shares of PANW which is valued at $210,355. Palo Alto Networks Inc makes up approx 0.04% of Windward Capital Management Co Ca’s portfolio.

Palo Alto Networks Inc closed down -3.38 points or -2.56% at $128.4 with 7,85,341 shares getting traded on Monday. Post opening the session at $132, the shares hit an intraday low of $128.33 and an intraday high of $132 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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