Bridgewater Advisors Inc. Invests $461,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bridgewater Advisors Inc. acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,469 shares of the network technology company's stock, valued at approximately $461,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Transce3nd LLC bought a new position in Palo Alto Networks in the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL boosted its stake in Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after purchasing an additional 55 shares during the period. Anchor Investment Management LLC boosted its stake in Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares during the period. Kiely Wealth Advisory Group Inc. lifted its position in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after buying an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Palo Alto Networks during the 4th quarter worth about $29,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 1.9%

PANW traded up $3.69 during midday trading on Thursday, hitting $196.28. The company had a trading volume of 4,297,753 shares, compared to its average volume of 5,411,936. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The company has a market capitalization of $130.88 billion, a price-to-earnings ratio of 112.16, a PEG ratio of 5.38 and a beta of 0.97. The stock's 50 day moving average price is $195.25 and its 200 day moving average price is $185.85.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. 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. Truist Financial lowered their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $208.00.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the transaction, the executive vice president directly owned 293,010 shares in the company, valued at approximately $55,458,002.70. The trade was a 29.19% 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, Director Aparna Bawa sold 526 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the transaction, the director owned 8,632 shares in the company, valued at approximately $1,640,080. The trade was a 5.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 569,248 shares of company stock valued at $111,279,829 in the last quarter. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Company 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.