Mitsubishi UFJ Asset Management Co. Ltd. Has $277.27 Million Holdings in Palo Alto Networks, Inc. $PANW

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,545,782 shares of the network technology company's stock after acquiring an additional 100,675 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.22% of Palo Alto Networks worth $277,267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in Palo Alto Networks in the second quarter valued at approximately $25,000. Steph & Co. boosted its holdings in Palo Alto Networks by 88.2% in the fourth quarter. Steph & Co. now owns 143 shares of the network technology company's stock valued at $26,000 after acquiring an additional 67 shares during the last quarter. Winch Advisory Services LLC boosted its holdings in Palo Alto Networks by 96.1% in the third quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company's stock valued at $30,000 after acquiring an additional 73 shares during the last quarter. Painted Porch Advisors LLC boosted its holdings in Palo Alto Networks by 72.7% in the third quarter. Painted Porch Advisors LLC now owns 152 shares of the network technology company's stock valued at $31,000 after acquiring an additional 64 shares during the last quarter. Finally, Caitlin John LLC bought a new stake in Palo Alto Networks in the third quarter valued at approximately $31,000. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PANW shares. Truist Financial set a $200.00 target price on Palo Alto Networks and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Wedbush restated an "outperform" rating and issued a $225.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Jefferies Financial Group restated a "buy" rating on shares of Palo Alto Networks in a research note on Wednesday, February 4th. JPMorgan Chase & Co. cut their price target on Palo Alto Networks from $225.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Finally, The Goldman Sachs Group cut their price target on Palo Alto Networks from $240.00 to $224.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $210.84.

Insider Activity at Palo Alto Networks

In other news, EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 150,250 shares of the company's stock, valued at $24,103,105. This trade represents a 3.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 1,100 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $161.40, for a total value of $177,540.00. Following the completion of the sale, the chief accounting officer directly owned 83,136 shares of the company's stock, valued at $13,418,150.40. The trade was a 1.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,356 shares of company stock valued at $4,981,575 in the last 90 days. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Trading Down 0.3%

Palo Alto Networks stock opened at $183.98 on Wednesday. The business's fifty day simple moving average is $164.16 and its two-hundred day simple moving average is $180.84. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $223.61. The company has a market capitalization of $150.13 billion, a price-to-earnings ratio of 101.65, a price-to-earnings-growth ratio of 6.65 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.09. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The firm had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.58 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The company's revenue was up 14.9% on a year-over-year basis. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 2.14 EPS for the current year.

About Palo Alto Networks

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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