DekaBank Deutsche Girozentrale increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 357,119 shares of the network technology company's stock after buying an additional 3,509 shares during the period. DekaBank Deutsche Girozentrale owned 0.05% of Palo Alto Networks worth $60,374,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of PANW. Brighton Jones LLC raised its stake in Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock worth $1,230,000 after buying an additional 4,031 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in Palo Alto Networks by 115.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock valued at $8,004,000 after purchasing an additional 23,586 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Palo Alto Networks by 215.8% in the fourth quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company's stock valued at $440,000 after purchasing an additional 1,651 shares in the last quarter. Personal CFO Solutions LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at $213,000. Finally, AlphaQuest LLC increased its stake in Palo Alto Networks by 8.5% in the fourth quarter. AlphaQuest LLC now owns 2,828 shares of the network technology company's stock valued at $515,000 after purchasing an additional 221 shares in the last quarter. Institutional investors own 79.82% of the company's stock.
Palo Alto Networks Trading Down 2.4%
Shares of NASDAQ:PANW traded down $4.68 during trading on Friday, reaching $187.39. The company had a trading volume of 7,403,387 shares, compared to its average volume of 5,412,698. The company has a fifty day moving average of $195.05 and a two-hundred day moving average of $185.79. The stock has a market capitalization of $124.95 billion, a P/E ratio of 107.08, a price-to-earnings-growth ratio of 5.75 and a beta of 0.97. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter last year, the company earned $0.66 EPS. The firm's revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.
Wall Street Analysts Forecast Growth
PANW has been the subject of several research analyst reports. Truist Financial decreased their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Wells Fargo & Company lifted their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. TD Securities reaffirmed a "buy" rating and issued a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price for the company in a research report on Thursday, April 10th. Two equities research 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $208.00.
Check Out Our Latest Stock Report on PANW
Insider Buying and Selling at Palo Alto Networks
In other Palo Alto Networks news, Director Aparna Bawa sold 526 shares of the company'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 sale, the director directly owned 8,632 shares in the company, valued at $1,640,080. This represents a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 600 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total transaction of $122,400.00. Following the sale, the chief accounting officer owned 41,433 shares of the company's stock, valued at approximately $8,452,332. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 569,248 shares of company stock valued at $111,279,829. 2.50% of the stock is currently owned by insiders.
About Palo Alto Networks
(
Free Report)
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.
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