Global X Japan Co. Ltd. Has $10.67 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Global X Japan Co. Ltd. lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 38.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,482 shares of the network technology company’s stock after purchasing an additional 8,738 shares during the period. Palo Alto Networks accounts for 1.5% of Global X Japan Co. Ltd.’s portfolio, making the stock its 22nd largest holding. Global X Japan Co. Ltd.’s holdings in Palo Alto Networks were worth $10,673,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PANW. Norges Bank bought a new position in Palo Alto Networks during the fourth quarter worth $1,563,020,000. Vanguard Group Inc. boosted its holdings in shares of Palo Alto Networks by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after buying an additional 1,058,127 shares during the period. Axiom Investors LLC DE grew its stake in Palo Alto Networks by 359.3% in the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after buying an additional 749,199 shares during the last quarter. Swedbank AB bought a new position in Palo Alto Networks in the 1st quarter valued at about $177,933,000. Finally, 1832 Asset Management L.P. lifted its position in Palo Alto Networks by 63.8% during the fourth quarter. 1832 Asset Management L.P. now owns 640,755 shares of the network technology company’s stock worth $188,946,000 after acquiring an additional 249,455 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Up 2.5 %

Shares of NASDAQ:PANW opened at $344.05 on Tuesday. The firm has a market cap of $111.40 billion, a P/E ratio of 50.01, a P/E/G ratio of 4.89 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84. The business has a fifty day simple moving average of $335.88 and a 200 day simple moving average of $310.96.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Analysts Set New Price Targets

PANW has been the topic of several research reports. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Scotiabank upped their price target on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Macquarie lifted their price objective on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, Wells Fargo & Company increased their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $366.08.

Insider Activity

In related news, EVP Lee Klarich sold 125,866 shares of Palo Alto Networks stock in a transaction on Monday, July 8th. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the completion of the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Palo Alto Networks news, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the transaction, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at $219,505,142.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 125,866 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the sale, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at approximately $55,791,570. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,075 shares of company stock valued at $154,029,567. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.