Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 176.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,049 shares of the network technology company’s stock after buying an additional 16,639 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Palo Alto Networks were worth $4,850,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Palo Alto Networks by 3.0% during the third quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock worth $2,609,486,000 after buying an additional 220,900 shares during the period. Jennison Associates LLC lifted its stake in shares of Palo Alto Networks by 83.0% during the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after buying an additional 2,612,474 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Palo Alto Networks by 109.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,202,926 shares of the network technology company’s stock valued at $764,764,000 after purchasing an additional 2,197,765 shares during the period. Raymond James Financial Inc. acquired a new position in Palo Alto Networks during the fourth quarter valued at $388,155,000. Finally, Swiss National Bank lifted its position in Palo Alto Networks by 91.4% during the fourth quarter. Swiss National Bank now owns 1,839,400 shares of the network technology company’s stock valued at $334,697,000 after purchasing an additional 878,400 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $183.10 on Wednesday. The firm has a market capitalization of $121.23 billion, a price-to-earnings ratio of 103.16, a PEG ratio of 5.64 and a beta of 1.04. The company’s 50-day moving average is $185.89 and its two-hundred day moving average is $184.98. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 235,492 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. This represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock worth $204,315,811 in the last ninety days. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Palo Alto Networks in a research report on Tuesday. They set an “overweight” rating for the company. Loop Capital decreased their target price on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. TD Cowen boosted their target price on shares of Palo Alto Networks from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. StockNews.com downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Finally, Robert W. Baird upped their price objective on shares of Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $205.06.

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.