Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 11.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,533 shares of the network technology company's stock after acquiring an additional 9,655 shares during the quarter. Palo Alto Networks makes up 1.8% of Global X Japan Co. Ltd.'s portfolio, making the stock its 17th largest holding. Global X Japan Co. Ltd.'s holdings in Palo Alto Networks were worth $15,790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Transce3nd LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter worth $25,000. Strategic Investment Solutions Inc. IL raised its position in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after buying an additional 55 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 79 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 78 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. grew its holdings 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 valued at $29,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial cut their price target 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 upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a research note on Thursday, April 10th. Citigroup increased their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. KeyCorp restated an "overweight" rating and issued a $220.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, Jefferies Financial Group raised their target price on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Trading Down 0.3%

Shares of Palo Alto Networks stock traded down $0.54 during trading hours on Friday, reaching $199.24. The stock had a trading volume of 8,285,645 shares, compared to its average volume of 5,480,472. The stock's 50 day moving average is $186.81 and its 200 day moving average is $185.29. The firm has a market capitalization of $132.85 billion, a PE ratio of 113.85, a PEG ratio of 5.57 and a beta of 0.97. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business 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 company's revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This trade represents a 2.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $23,567,838.36. Following the sale, the executive vice president now owns 264,246 shares in the company, valued at $51,564,964.44. This represents a 31.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock worth $139,837,528 in the last 90 days. Insiders own 2.50% of the company's stock.

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.