Twinbeech Capital LP Has $52.51 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Twinbeech Capital LP boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 114.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 288,574 shares of the network technology company's stock after buying an additional 153,833 shares during the period. Twinbeech Capital LP's holdings in Palo Alto Networks were worth $52,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC grew its stake in Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after purchasing an additional 6,725,148 shares in the last quarter. Norges Bank purchased a new position in Palo Alto Networks in the fourth quarter valued at about $970,736,000. Northern Trust Corp grew its stake in Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after purchasing an additional 4,486,654 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in Palo Alto Networks by 83.8% in the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock valued at $1,533,419,000 after purchasing an additional 3,841,359 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $192.98 on Monday. The company has a market capitalization of $127.77 billion, a PE ratio of 108.72, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The business has a 50 day simple moving average of $177.37 and a 200 day simple moving average of $185.16.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PANW shares. Truist Financial decreased their price target on 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Stephens downgraded Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Jefferies Financial Group upped their price target on Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Westpark Capital reiterated a "hold" rating and set a $196.40 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Two equities research 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $203.46.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the completion of the sale, the executive vice president now directly owns 293,010 shares of the company's stock, valued at approximately $55,458,002.70. The trade was a 29.19% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Friday, April 11th. The stock was 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 of the company's stock, valued at $586,132,981.56. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 568,962 shares of company stock valued at $96,933,690 over the last ninety days. 2.50% of the stock is owned by insiders.

Palo Alto Networks Company 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.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.