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Sumitomo Mitsui DS Asset Management Company Ltd Buys 3,824 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Palo Alto Networks logo with Computer and Technology background

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,010 shares of the network technology company's stock after buying an additional 3,824 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Palo Alto Networks were worth $13,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PANW. Transce3nd LLC purchased a new position in Palo Alto Networks in the 4th quarter worth $25,000. Strategic Investment Solutions Inc. IL increased its holdings 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 worth $26,000 after buying an additional 55 shares during the period. Anchor Investment Management LLC lifted its stake in shares of Palo Alto Networks by 100.0% in the 4th 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 last quarter. Kiely Wealth Advisory Group Inc. boosted its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after acquiring an additional 75 shares during the period. Finally, Capital A Wealth Management LLC bought a new position in Palo Alto Networks during the 4th quarter worth approximately $29,000. Institutional investors own 79.82% of the company's stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of the stock in a transaction dated 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 owned 42,033 shares of the company's stock, valued at approximately $8,450,734.65. This represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $193.36, for a total value of $19,336,000.00. Following the sale, the executive vice president owned 3,343,516 shares of the company's stock, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 568,122 shares of company stock worth $101,726,398. Company insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

PANW has been the subject of several recent research reports. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Wells Fargo & Company upped their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Roth Capital assumed coverage on shares of Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target for the company. Jefferies Financial Group raised their price target on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Stephens downgraded shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Read Our Latest Report on PANW

Palo Alto Networks Stock Down 0.3%

Shares of Palo Alto Networks stock traded down $0.61 on Wednesday, reaching $196.97. The company's stock had a trading volume of 3,365,211 shares, compared to its average volume of 5,391,852. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The firm's fifty day simple moving average is $192.27 and its two-hundred day simple moving average is $185.37. The company has a market capitalization of $131.34 billion, a price-to-earnings ratio of 112.55, a P/E/G ratio of 5.71 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Palo Alto Networks Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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