Swedbank AB grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,820,955 shares of the network technology company's stock after buying an additional 428,731 shares during the quarter. Swedbank AB owned 0.40% of Palo Alto Networks worth $519,620,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of PANW. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Palo Alto Networks by 7.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,545,782 shares of the network technology company's stock worth $277,267,000 after purchasing an additional 100,675 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Palo Alto Networks by 5.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 94,725 shares of the network technology company's stock worth $17,448,000 after purchasing an additional 4,744 shares in the last quarter. Garner Asset Management Corp increased its stake in Palo Alto Networks by 5.8% during the 4th quarter. Garner Asset Management Corp now owns 10,566 shares of the network technology company's stock worth $1,946,000 after buying an additional 580 shares in the last quarter. Nordwand Advisors LLC increased its stake in Palo Alto Networks by 1.0% during the 4th quarter. Nordwand Advisors LLC now owns 34,087 shares of the network technology company's stock worth $6,279,000 after buying an additional 330 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. increased its stake in Palo Alto Networks by 2.2% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 6,297 shares of the network technology company's stock worth $1,160,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.
Palo Alto Networks Stock Performance
Shares of Palo Alto Networks stock opened at $183.98 on Wednesday. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $223.61. The company has a market cap of $150.13 billion, a price-to-earnings ratio of 101.65, a PEG ratio of 6.65 and a beta of 0.77. The business's 50 day moving average price is $164.16 and its 200 day moving average price is $180.84.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the business posted $0.81 earnings per share. The firm's revenue was up 14.9% compared to the same quarter last year. On average, analysts predict that Palo Alto Networks, Inc. will post 2.14 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
PANW has been the subject of several research reports. Mizuho set a $200.00 price objective on Palo Alto Networks in a research note on Wednesday, February 18th. BTIG Research reiterated a "buy" rating and set a $200.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 18th. UBS Group set a $183.00 price objective on Palo Alto Networks in a research note on Thursday, February 19th. BMO Capital Markets cut their price objective on Palo Alto Networks from $230.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, February 18th. Finally, HSBC cut their price objective on Palo Alto Networks from $157.00 to $114.00 in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $210.84.
Check Out Our Latest Stock Report on Palo Alto Networks
Insider Transactions at Palo Alto Networks
In other Palo Alto Networks news, CEO Nikesh Arora acquired 68,085 shares of the stock in a transaction that occurred on Friday, March 27th. The stock was bought at an average cost of $146.87 per share, for a total transaction of $9,999,643.95. Following the completion of the transaction, the chief executive officer owned 343,394 shares of the company's stock, valued at approximately $50,434,276.78. The trade was a 24.73% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Key sold 1,572 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $173.32, for a total value of $272,459.04. Following the completion of the transaction, the director owned 20,000 shares of the company's stock, valued at $3,466,400. The trade was a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,356 shares of company stock valued at $4,981,575 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.
Palo Alto Networks Profile
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Free Report)
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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