Srs Investment Management adds Palo Alto Networks Inc (PANW) to its portfolio

Palo Alto Networks Inc (PANW) : Srs Investment Management added new position in Palo Alto Networks Inc during the most recent quarter end. The investment management firm now holds 1,004,394 shares of Palo Alto Networks Inc which is valued at $127,738,829 , the company said in a statement filed on Aug 15, 2016 with the SEC.Palo Alto Networks Inc makes up approximately 3.72% of Srs Investment Management’s portfolio.

Other Hedge Funds, Including , Shannon River Fund Management sold out all of its stake in PANW during the most recent quarter. The investment firm sold 110,000 shares of PANW which is valued $13,989,800.Meru Capital Group Lp boosted its stake in PANW in the latest quarter, The investment management firm added 4,000 additional shares and now holds a total of 8,268 shares of Palo Alto Networks Inc which is valued at $1,051,524. Palo Alto Networks Inc makes up approx 0.34% of Meru Capital Group Lp’s portfolio. United Services Automobile Association sold out all of its stake in PANW during the most recent quarter. The investment firm sold 48,300 shares of PANW which is valued $6,142,794. First Citizens Bank Trust Co sold out all of its stake in PANW during the most recent quarter. The investment firm sold 3,959 shares of PANW which is valued $518,194.

Palo Alto Networks Inc opened for trading at $133.27 and hit $141.34 on the upside on Thursday, eventually ending the session at $140.66, with a gain of 5.62% or 7.49 points. The heightened volatility saw the trading volume jump to 49,10,932 shares. Company has a market cap of $12,604 M.

On the company’s financial health, Palo Alto Networks Inc reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 30, 2016. Analyst had a consensus of $0.49. The company had revenue of $400.80 million for the quarter, compared to analysts expectations of $389.90 million. The company’s revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on Palo Alto Networks Inc. Shares were Downgraded by Raymond James on Aug 31, 2016 to ” Outperform” and Lowered the Price Target to $ 165 from a previous price target of $180 .Shares were Reiterated by Maxim Group on Aug 31, 2016 to “Buy” and Lowered the Price Target to $ 185 from a previous price target of $215 .Shares were Reiterated by RBC Capital Mkts on Aug 31, 2016 to “Outperform” and Lowered the Price Target to $ 175 from a previous price target of $185 .

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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