Published: Fri, August 26, 2016
Economy | By Melissa Porter

Covington Investment Advisors buys $3336186 stake in Palo Alto Networks Inc (PANW)

Covington Investment Advisors buys $3336186 stake in Palo Alto Networks Inc (PANW)

The firm has a SMA 50 (Simple Moving Average) of $129.88 and a SMA 200-(Simple Moving Average) of $137.74.

Palo Alto Networks Inc (NYSE:PANW) went down -1.22% during trading on 8/24/2016, hitting $143.25. We believe this should be viewed as positive for the stock as it demonstrates that the company is able to move into adjacent areas of security spend and leverage its market position (and brand) to make additional sales. The firm earned $345.80 million during the quarter, compared to the consensus estimate of $339.36 million.

While looking at the Stock's Performance, Palo Alto Networks, Inc. now shows a Weekly Performance of 4.8%, where Monthly Performance is 8.05%, Quarterly performance is -2.74%, 6 Months performance is 11.08% and yearly performance percentage is -8.32%. The monthly stock performance comes in at 8.05%.

The organization is now holding a P/E ratio of *TBA with a forward P/E ratio of 53.81, indicating how cheap or expensive the share price is which in turn reveals the sentiments of the investors.

Hilltop Park Associates Llc holds 7.19% of its portfolio in Palo Alto Networks Inc for 20,000 shares. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, the Hold rating count is 4 as of 8/23/2016. Also, CFO Steffan Tomlinson sold 2,332 shares of the business's stock in a transaction on Tuesday, June 21st. Today, he owns 279,704 shares or around 0.32% of the Company's market cap. The disclosure for this sale can be found here.

Shares of Palo Alto Networks, Inc. rose by 4.8% in the last five trading days and 8.05% for the last 4 weeks.

According to Zacks Investment Research, "Palo Alto Networks, Inc. offers a network security platform that allows enterprises, service providers, and government entities to secure their networks". Overweight rating was given by 2 analysts and Underweight rating was given by 0 analysts. The average forecast of sales for the year ending Jul 16 is $1.37B by 38 analysts. (NYSE:PANW). The majority of analysts covering the equity have either a Buy or Strong Buy recommendation on the stock, yielding a consensus score of 1.70. 36 Analysts reported that the Price Target for Palo Alto Networks, Inc. might touch $215 high while the Average Price Target and Low price Target is $183.72 and $139 respectively. Sigma Planning Corp increased its position in shares of Palo Alto Networks by 0.5% in the second quarter. "Palo Alto Networks, headquartered in Santa Clara, California". They now own 75.11 million shares or 11.02% more from 67.66 million shares in 2015Q4. The company's revenue was up 47.7% compared to the same quarter past year. Beck Capital Management LLC raised its position in Palo Alto Networks by 5.1% in the fourth quarter. Finally, Credit Suisse Group AG reissued a buy rating on shares of Palo Alto Networks in a research report on Sunday, May 29th. For the next 5 years, Palo Alto Networks, expecting Growth of 40.77% per annum, whereas in the past 5 years the growth was 87.8% per annum. 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.

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