Resona Asset Management Co. Ltd. Has $36.29 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Resona Asset Management Co. Ltd. raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,245 shares of the network technology company's stock after purchasing an additional 17,503 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Palo Alto Networks were worth $36,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transce3nd LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL boosted its position in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares during the period. Anchor Investment Management LLC boosted its position in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 78 shares during the period. Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $29,000. Finally, HWG Holdings LP bought a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Buying and Selling at Palo Alto Networks

In other news, Director Aparna Bawa sold 526 shares of Palo Alto Networks stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $190.00, for a total transaction of $99,940.00. Following the transaction, the director owned 8,632 shares in the company, valued at $1,640,080. The trade was a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated 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 owned 264,246 shares in the company, valued at $51,564,964.44. This trade represents a 31.37% decrease in their position. 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 over the last three months. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Up 0.7%

Shares of PANW opened at $168.17 on Tuesday. Palo Alto Networks, Inc. has a 1 year low of $144.15 and a 1 year high of $210.39. The stock has a market cap of $112.14 billion, a P/E ratio of 96.10, a price-to-earnings-growth ratio of 3.96 and a beta of 0.94. The stock's 50-day moving average price is $193.70 and its two-hundred day moving average price is $186.78.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued 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 return on equity of 19.48% and a net margin of 13.95%. The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter last year, the business earned $0.66 earnings per share. The company's revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley set a $496.00 price objective on Palo Alto Networks in a research report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $223.00 target price on shares of Palo Alto Networks in a research report on Monday, May 19th. TD Securities reaffirmed a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. DA Davidson reduced their target price on Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Finally, Barclays reduced their target price on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $217.07.

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.

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