Palo Alto Networks, Inc. (NASDAQ:PANW) Position Raised by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 59.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 437,231 shares of the network technology company's stock after acquiring an additional 162,655 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.07% of Palo Alto Networks worth $74,609,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PANW. Strategic Investment Solutions Inc. IL grew its holdings 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 buying an additional 55 shares in the last quarter. JDM Financial Group LLC increased its holdings in shares of Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock valued at $59,000 after purchasing an additional 59 shares during the period. Adero Partners LLC raised its stake in shares of Palo Alto Networks by 4.3% during the first quarter. Adero Partners LLC now owns 1,556 shares of the network technology company's stock valued at $266,000 after purchasing an additional 64 shares in the last quarter. Snider Financial Group lifted its holdings in Palo Alto Networks by 0.4% in the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company's stock worth $3,025,000 after purchasing an additional 65 shares during the period. Finally, Grimes & Company Inc. grew its position in Palo Alto Networks by 5.3% in the 1st quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company's stock valued at $224,000 after buying an additional 66 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the sale, the executive vice president now directly owns 321,774 shares in the company, valued at approximately $48,629,704.62. The trade was a 27.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the sale, the executive vice president now directly owns 101,135 shares in the company, valued at approximately $20,414,099.75. The trade was a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 795,536 shares of company stock valued at $141,007,618 in the last quarter. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Down 1.0%

Shares of NASDAQ PANW opened at $202.34 on Friday. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The company has a market cap of $134.92 billion, a P/E ratio of 115.62, a P/E/G ratio of 5.70 and a beta of 0.97. The business's 50 day moving average is $190.04 and its two-hundred day moving average is $185.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (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 business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. Sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the subject of a number of research analyst reports. HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target for the company in a research note on Thursday, April 10th. Jefferies Financial Group upped their price target on Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a report on Friday, May 16th. TD Securities reiterated a "buy" rating and set a $230.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Northland Securities decreased their target price on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a report on Wednesday, May 21st. Finally, Truist Financial reduced their target price on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. Two investment 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $208.00.

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.

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