Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Tredje AP fonden

Tredje AP fonden boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,335 shares of the network technology company’s stock after acquiring an additional 700 shares during the period. Tredje AP fonden’s holdings in Palo Alto Networks were worth $24,183,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PANW. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new position in Palo Alto Networks in the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. increased its holdings in Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares during the last quarter. Ulland Investment Advisors LLC acquired a new stake in Palo Alto Networks during the first quarter valued at approximately $30,000. Finally, Central Bank & Trust Co. lifted its holdings in Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the sale, the president now directly owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock worth $154,029,567 in the last 90 days. 3.30% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $337.93 on Wednesday. Palo Alto Networks, Inc. has a one year low of $224.64 and a one year high of $380.84. The business’s 50-day moving average price is $336.41 and its two-hundred day moving average price is $312.63. The company has a market capitalization of $110.03 billion, a P/E ratio of 49.12, a price-to-earnings-growth ratio of 5.03 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 EPS. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PANW. Morgan Stanley upped their price target on Palo Alto Networks from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Susquehanna increased their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Evercore ISI boosted their price target on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Macquarie raised their price target on Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Finally, Sanford C. Bernstein upped their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $366.08.

About Palo Alto Networks

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.