Harbour Capital Advisors Lowers stake in Palo Alto Networks Inc (PANW)

Palo Alto Networks Inc (PANW) : Harbour Capital Advisors reduced its stake in Palo Alto Networks Inc by 34.78% during the most recent quarter end. The investment management company now holds a total of 7,055 shares of Palo Alto Networks Inc which is valued at $1,138,324 after selling 3,762 shares in Palo Alto Networks Inc , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.Palo Alto Networks Inc makes up approximately 0.61% of Harbour Capital Advisors’s portfolio.

Palo Alto Networks Inc opened for trading at $159 and hit $160.93 on the upside on Tuesday, eventually ending the session at $160.02, with a gain of 0.59% or 0.94 points. The heightened volatility saw the trading volume jump to 10,84,467 shares. Company has a market cap of $14,538 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. Wunderlich Resumed Palo Alto Networks Inc on Sep 13, 2016 to “Buy”, Price Target of the shares are set at $190.Palo Alto Networks Inc was Initiated by Rosenblatt to “Buy” on Sep 12, 2016. 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 .

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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