Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Allianz SE

Key Points

• Allianz SE increased its stake in Palo Alto Networks, Inc. by 6.0%, owning 84,526 shares valued at $14.42 million at the end of the most recent quarter.
• Other major investors, such as BIT Capital GmbH and Generali Investments, significantly boosted their holdings in Palo Alto Networks, indicating strong institutional interest.
• Palo Alto Networks reported better-than-expected earnings last quarter, with a 15.3% revenue increase compared to the previous year, highlighting its growth potential in the cybersecurity sector.

Allianz SE grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 84,526 shares of the network technology company's stock after purchasing an additional 4,813 shares during the quarter. Allianz SE's holdings in Palo Alto Networks were worth $14,424,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PANW. Capital Research Global Investors raised its stake in shares of Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after acquiring an additional 3,841,359 shares in the last quarter. Northern Trust Corp grew its position in Palo Alto Networks by 133.7% during the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock worth $1,427,048,000 after purchasing an additional 4,486,654 shares during the last quarter. Ameriprise Financial Inc. grew its position in Palo Alto Networks by 17.6% during the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company's stock worth $1,324,387,000 after purchasing an additional 1,088,631 shares during the last quarter. Nuveen Asset Management LLC grew its position in Palo Alto Networks by 98.0% during the 4th quarter. Nuveen Asset Management LLC now owns 6,158,580 shares of the network technology company's stock worth $1,120,615,000 after purchasing an additional 3,047,625 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Palo Alto Networks by 92.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,951,283 shares of the network technology company's stock valued at $1,082,895,000 after acquiring an additional 2,862,718 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Down 1.1%

PANW stock traded down $1.88 during mid-day trading on Monday, hitting $171.00. 11,170,850 shares of the company were exchanged, compared to its average volume of 8,542,559. The firm has a market capitalization of $114.02 billion, a P/E ratio of 97.71, a PEG ratio of 4.11 and a beta of 0.94. The business has a fifty day simple moving average of $196.04 and a 200-day simple moving average of $187.36. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the firm posted $0.66 earnings per share. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. Research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the transaction, the executive vice president owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the transaction, the executive vice president directly owned 3,243,516 shares of the company's stock, valued at approximately $644,356,888.56. The trade was a 2.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 448,474 shares of company stock valued at $88,420,934. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Morgan Stanley lowered their price target on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a report on Thursday, April 10th. DA Davidson lowered their price target on shares of Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Jefferies Financial Group set a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $209.61.

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.