Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its stake in Palo Alto Networks, Inc. (PANW) by 14.1%, now owning 1,285,835 shares valued at approximately $219.4 million.
• Palo Alto Networks reported a Q1 earnings per share (EPS) of $0.80, surpassing the consensus estimate of $0.77, and its revenue grew by 15.3% year-over-year.
• Analyst ratings for Palo Alto Networks vary, with two sell ratings, fourteen hold ratings, and twenty-six buy ratings, indicating a consensus rating of "Moderate Buy."

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,285,835 shares of the network technology company's stock after purchasing an additional 158,828 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of Palo Alto Networks worth $219,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Transce3nd LLC acquired a new position in Palo Alto Networks during the fourth quarter valued at $25,000. Strategic Investment Solutions Inc. IL grew its position in 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 worth $26,000 after purchasing an additional 55 shares during the period. Anchor Investment Management LLC raised its stake 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 during the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter worth about $29,000. Finally, HWG Holdings LP acquired a new stake in Palo Alto Networks during the first quarter worth about $31,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $172.89 on Thursday. Palo Alto Networks, Inc. has a 1 year low of $144.15 and a 1 year high of $210.39. The stock's 50 day simple moving average is $195.06 and its two-hundred day simple moving average is $187.10. The company has a market cap of $115.28 billion, a price-to-earnings ratio of 98.79, a PEG ratio of 4.01 and a beta of 0.94.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business posted $0.66 earnings per share. The firm's revenue was up 15.3% on a year-over-year basis. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. KeyCorp downgraded Palo Alto Networks from an "overweight" rating to a "sector weight" rating in a report on Thursday, July 31st. Stephens cut shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Northland Securities lowered their target price on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. JPMorgan Chase & Co. lowered their price target on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Finally, Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus price target of $209.61.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the transaction, the executive vice president directly owned 264,246 shares in the company, valued at approximately $51,564,964.44. This represents a 31.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $201.05, for a total value of $160,840.00. Following the transaction, the chief accounting officer directly owned 42,033 shares of the company's stock, valued at $8,450,734.65. The trade was a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 669,248 shares of company stock worth $126,423,337 in the last ninety days. 2.50% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report).

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.