Palo Alto Networks, Inc. $PANW Shares Bought by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. increased its Palo Alto Networks stake by 13.4% in the fourth quarter, bringing its holdings to 69,227 shares valued at about $12.75 million.
• Several other institutional investors also added to PANW, and hedge funds now own 79.82% of the company’s stock, indicating continued institutional interest.
• Palo Alto Networks reported strong quarterly results, with EPS of $1.03 beating estimates and revenue of $2.59 billion slightly above forecasts; analysts currently have a Moderate Buy consensus with a target price of $211.64.

ASR Vermogensbeheer N.V. raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,227 shares of the network technology company's stock after purchasing an additional 8,194 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Palo Alto Networks were worth $12,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PANW. Darwin Wealth Management LLC acquired a new stake in Palo Alto Networks during the 2nd 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 purchasing an additional 67 shares during the last quarter. Winch Advisory Services LLC grew its position in Palo Alto Networks by 96.1% during the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company's stock worth $30,000 after purchasing an additional 73 shares during the period. Caitlin John LLC acquired a new stake in Palo Alto Networks during the 3rd quarter worth about $31,000. Finally, Painted Porch Advisors LLC raised its stake in shares of Palo Alto Networks by 72.7% during the 3rd quarter. Painted Porch Advisors LLC now owns 152 shares of the network technology company's stock valued at $31,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,100 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $161.40, for a total transaction of $177,540.00. Following the sale, the chief accounting officer directly owned 83,136 shares in the company, valued at $13,418,150.40. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James J. Goetz sold 22,684 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the sale, the director directly owned 52,500 shares in the company, valued at $8,631,525. This represents a 30.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,356 shares of company stock worth $4,981,575 over the last 90 days. 1.40% of the stock is owned by insiders.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $207.88 on Friday. The company's 50 day simple moving average is $166.05 and its 200-day simple moving average is $180.61. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $223.61. The company has a market capitalization of $169.63 billion, a price-to-earnings ratio of 114.85, a price-to-earnings-growth ratio of 7.09 and a beta of 0.77.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PANW. Mizuho set a $200.00 target price on Palo Alto Networks in a research note on Wednesday, February 18th. UBS Group set a $183.00 price target on Palo Alto Networks in a report on Thursday, February 19th. Susquehanna lowered their price objective on Palo Alto Networks from $230.00 to $200.00 and set a "positive" rating on the stock in a research report on Wednesday, February 18th. Benchmark began coverage on shares of Palo Alto Networks in a research note on Wednesday, April 1st. They set a "buy" rating and a $200.00 price objective on the stock. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus target price of $211.64.

Palo Alto Networks Profile

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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