Robocap Asset Management Ltd Acquires 5,744 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Robocap Asset Management Ltd raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 16.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,690 shares of the network technology company's stock after buying an additional 5,744 shares during the period. Palo Alto Networks comprises approximately 5.2% of Robocap Asset Management Ltd's investment portfolio, making the stock its 6th biggest position. Robocap Asset Management Ltd's holdings in Palo Alto Networks were worth $6,943,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PANW. Vanguard Group Inc. boosted its holdings in Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after buying an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after buying an additional 6,725,148 shares in the last quarter. Norges Bank bought a new stake in Palo Alto Networks during the fourth quarter worth approximately $970,736,000. Northern Trust Corp boosted its holdings in Palo Alto Networks by 133.7% during the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock worth $1,427,048,000 after buying an additional 4,486,654 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after buying an additional 3,841,359 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Up 1.3%

PANW traded up $2.57 during trading on Tuesday, hitting $203.99. The stock had a trading volume of 3,409,521 shares, compared to its average volume of 5,387,990. The firm has a market cap of $136.02 billion, a PE ratio of 116.57, a P/E/G ratio of 5.63 and a beta of 0.97. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The company has a 50 day simple moving average of $194.20 and a 200-day simple moving average of $185.49.

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

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 600 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $204.00, for a total value of $122,400.00. Following the sale, the chief accounting officer directly owned 41,433 shares in the company, valued at $8,452,332. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the completion of the sale, the executive vice president owned 264,246 shares in the company, valued at $51,564,964.44. This represents a 31.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 547,948 shares of company stock valued at $103,462,223. Company insiders own 2.50% of the company's stock.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Truist Financial decreased their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective for the company in a research note on Thursday, April 10th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the stock an "outperform" rating in a research note 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-seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

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.