ABN AMRO Bank N.V. Has $318.30 Million Position in Palo Alto Networks, Inc. $PANW

Key Points

• ABN AMRO Bank increased its Palo Alto Networks stake by 1.1% in the fourth quarter, ending with 1,729,145 shares valued at about $318.3 million. The stock now represents roughly 3.0% of the firm’s portfolio and its 7th-largest holding.
• Institutional ownership remains high, with large holders such as Vanguard, State Street, Northern Trust, First Trust, and Pictet all adding to their positions. Overall, institutions own about 79.82% of Palo Alto Networks’ shares.
• Analysts remain constructive on PANW despite some trimmed targets, with the stock carrying a consensus rating of “Moderate Buy” and an average price target of $211.64. Palo Alto Networks also recently beat earnings expectations, reporting $1.03 EPS versus the $0.94 estimate on revenue of $2.59 billion.

ABN AMRO Bank N.V. lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,729,145 shares of the network technology company's stock after acquiring an additional 19,557 shares during the period. Palo Alto Networks accounts for about 3.0% of ABN AMRO Bank N.V.'s portfolio, making the stock its 7th biggest holding. ABN AMRO Bank N.V. owned approximately 0.25% of Palo Alto Networks worth $318,298,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Palo Alto Networks by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 67,929,063 shares of the network technology company's stock valued at $12,512,533,000 after buying an additional 2,659,100 shares during the last quarter. State Street Corp boosted its stake in Palo Alto Networks by 1.7% during the third quarter. State Street Corp now owns 29,736,916 shares of the network technology company's stock valued at $6,055,031,000 after buying an additional 505,924 shares during the last quarter. Northern Trust Corp boosted its stake in Palo Alto Networks by 0.5% during the third quarter. Northern Trust Corp now owns 7,528,248 shares of the network technology company's stock valued at $1,532,902,000 after buying an additional 36,511 shares during the last quarter. First Trust Advisors LP boosted its stake in Palo Alto Networks by 11.5% during the third quarter. First Trust Advisors LP now owns 5,906,963 shares of the network technology company's stock valued at $1,202,776,000 after buying an additional 611,375 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Palo Alto Networks by 7.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,356,617 shares of the network technology company's stock valued at $802,691,000 after buying an additional 319,751 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 1,100 shares of Palo Alto Networks stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total transaction of $177,540.00. Following the completion of the sale, the chief accounting officer directly owned 83,136 shares in the company, valued at approximately $13,418,150.40. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $160.42, for a total value of $802,100.00. Following the sale, the executive vice president owned 150,250 shares of the company's stock, valued at approximately $24,103,105. This trade represents a 3.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 30,356 shares of company stock valued at $4,981,575. Company insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PANW. Morgan Stanley reissued an "overweight" rating and set a $223.00 price target (down from $245.00) on shares of Palo Alto Networks in a research note on Wednesday, February 18th. DA Davidson set a $190.00 price target on Palo Alto Networks and gave the company a "buy" rating in a research note on Wednesday, February 18th. Citigroup reissued a "buy" rating and set a $210.00 price target (down from $235.00) on shares of Palo Alto Networks in a research note on Thursday, February 19th. Susquehanna dropped their price target on Palo Alto Networks from $230.00 to $200.00 and set a "positive" rating for the company in a research note on Wednesday, February 18th. Finally, Truist Financial reissued a "buy" rating and set a $220.00 price target (up from $205.00) on shares of Palo Alto Networks in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $211.64.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $207.88 on Monday. The company has a market capitalization of $169.63 billion, a price-to-earnings ratio of 114.85, a PEG ratio of 7.49 and a beta of 0.77. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $223.61. The firm's 50-day moving average is $166.05 and its 200 day moving average is $180.61.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm's revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 2.14 EPS for the current fiscal year.

Palo Alto Networks Profile

Palo Alto Networks NASDAQ: PANW is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company's product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

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