Temasek Holdings Private Ltd Acquires New Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Temasek Holdings Private Ltd purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,850 shares of the network technology company's stock, valued at approximately $4,522,000.

Other hedge funds also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its stake in shares of Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after buying an additional 69 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC grew its stake in shares of Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after purchasing an additional 101 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 106 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares of the company's stock, valued at approximately $54,854,038.83. This trade represents a 41.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 568,962 shares of company stock valued at $96,933,690 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

PANW stock traded up $0.18 during midday trading on Tuesday, reaching $194.48. The company's stock had a trading volume of 9,202,119 shares, compared to its average volume of 5,679,412. The firm has a market capitalization of $128.77 billion, a price-to-earnings ratio of 109.57, a PEG ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The stock has a fifty day simple moving average of $178.03 and a two-hundred day simple moving average of $185.32.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. As a group, analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Westpark Capital reaffirmed a "hold" rating and set a $196.40 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. JMP Securities upped their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research note on Friday, February 14th. Roth Capital initiated coverage on Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 target price on the stock. Morgan Stanley reduced their price target on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a research note on Thursday, April 10th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and a consensus price target of $203.46.

About Palo Alto Networks

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.