LMR Partners LLP Invests $10.92 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

LMR Partners LLP purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 60,000 shares of the network technology company's stock, valued at approximately $10,918,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SJS Investment Consulting Inc. raised 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 valued at $25,000 after purchasing an additional 69 shares during the period. Transce3nd LLC bought a new position in shares of Palo Alto Networks during the fourth quarter worth about $25,000. Valued Wealth Advisors LLC raised its position in Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after buying an additional 101 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 64.0% in the 4th 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 in the last quarter. Finally, Abound Wealth Management lifted its stake in Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of recent research reports. Stephens downgraded shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. JMP Securities increased their price objective on shares of 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. Truist Financial decreased their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. Susquehanna upped their target price on Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a report on Tuesday, February 18th. Finally, KeyCorp decreased their price target on Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $203.22.

Palo Alto Networks Trading Up 1.0%

NASDAQ PANW traded up $2.00 during trading on Thursday, hitting $192.90. 5,430,875 shares of the company's stock were exchanged, compared to its average volume of 5,727,373. The stock's 50 day moving average price is $176.71 and its two-hundred day moving average price is $184.94. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The company has a market cap of $127.72 billion, a PE ratio of 108.68, a P/E/G ratio of 5.64 and a beta of 1.02.

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

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the sale, the executive vice president now directly owns 321,774 shares in the company, valued at approximately $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. 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 90 days. Corporate insiders own 2.50% of the company's stock.

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.