Nordea Investment Management AB Has $141.27 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Nordea Investment Management AB boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 481,324 shares of the network technology company’s stock after acquiring an additional 42,584 shares during the quarter. Nordea Investment Management AB owned 0.15% of Palo Alto Networks worth $141,273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. GSG Advisors LLC bought a new position in Palo Alto Networks during the third quarter worth about $1,198,000. Truist Financial Corp grew its stake in Palo Alto Networks by 148.9% during the third quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after buying an additional 113,534 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in Palo Alto Networks by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock worth $32,143,000 after buying an additional 735 shares in the last quarter. Clough Capital Partners L P grew its stake in Palo Alto Networks by 61.5% during the third quarter. Clough Capital Partners L P now owns 61,120 shares of the network technology company’s stock worth $14,329,000 after buying an additional 23,265 shares in the last quarter. Finally, Investment Management Corp of Ontario acquired a new stake in Palo Alto Networks during the second quarter worth about $7,002,000. 85.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Oppenheimer reduced their price target on shares of Palo Alto Networks from $310.00 to $305.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets reduced their price target on shares of Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Sanford C. Bernstein began coverage on shares of Palo Alto Networks in a research report on Thursday, January 18th. They set an “outperform” rating for the company. Cantor Fitzgerald reduced their price target on shares of Palo Alto Networks from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of Palo Alto Networks from $272.00 to $326.00 and gave the company an “overweight” rating in a research report on Monday, December 11th. Eleven equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.89.

Get Our Latest Report on PANW

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the transaction, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,153 shares of company stock valued at $44,107,332. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $282.16 on Monday. Palo Alto Networks, Inc. has a 52-week low of $176.30 and a 52-week high of $380.84. The stock has a market capitalization of $91.17 billion, a price-to-earnings ratio of 44.09, a P/E/G ratio of 3.95 and a beta of 1.21. The company’s 50 day moving average price is $324.69 and its 200-day moving average price is $284.12.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal 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.

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

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