Groupama Asset Managment Purchases 50,477 Shares of Palo Alto Networks, Inc. $PANW

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Groupama Asset Managment raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 709,688 shares of the network technology company's stock after acquiring an additional 50,477 shares during the period. Palo Alto Networks comprises approximately 1.0% of Groupama Asset Managment's portfolio, making the stock its 24th biggest holding. Groupama Asset Managment owned about 0.11% of Palo Alto Networks worth $121,101,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Transce3nd LLC purchased a new position in Palo Alto Networks in the 4th quarter worth $25,000. Capital A Wealth Management LLC bought a new position in shares of Palo Alto Networks during the fourth quarter valued at about $29,000. HWG Holdings LP purchased a new position in shares of Palo Alto Networks in the first quarter worth about $31,000. Dagco Inc. bought a new stake in shares of Palo Alto Networks in the 1st quarter valued at about $33,000. Finally, SWAN Capital LLC lifted its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. SWAN Capital LLC now owns 200 shares of the network technology company's stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PANW. Morgan Stanley set a $496.00 price target on Palo Alto Networks in a research report on Thursday, August 7th. Wells Fargo & Company raised their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an "outperform" rating in a report on Wednesday, May 21st. Rosenblatt Securities cut their price target on shares of Palo Alto Networks from $235.00 to $215.00 and set a "buy" rating on the stock in a report on Thursday, August 14th. Finally, DA Davidson lowered their price objective on shares of Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $217.79.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the completion of the sale, the executive vice president owned 264,246 shares of the company's stock, valued at approximately $51,564,964.44. This trade represents a 31.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $172.80, for a total value of $17,280,000.00. Following the transaction, the executive vice president directly owned 3,143,516 shares in the company, valued at approximately $543,199,564.80. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 669,248 shares of company stock worth $126,423,337 in the last three months. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $176.17 on Tuesday. The company has a market capitalization of $117.47 billion, a price-to-earnings ratio of 100.67, a price-to-earnings-growth ratio of 4.35 and a beta of 0.94. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $210.39. The company's 50-day moving average is $191.59 and its 200 day moving average is $186.35.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Monday, August 18th. The network technology company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.50 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business's revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.