Palo Alto Networks, Inc. (NASDAQ:PANW) Holdings Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,040 shares of the network technology company’s stock after buying an additional 1,420 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Palo Alto Networks were worth $8,563,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Covestor Ltd grew its position in Palo Alto Networks by 61.8% during the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after purchasing an additional 21 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Palo Alto Networks by 0.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock valued at $1,843,000 after buying an additional 23 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Palo Alto Networks by 6.5% during the 1st quarter. Brighton Jones LLC now owns 425 shares of the network technology company’s stock valued at $265,000 after purchasing an additional 26 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of Palo Alto Networks by 6.4% in the 1st quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company’s stock valued at $281,000 after purchasing an additional 27 shares during the last quarter. Finally, MV Capital Management Inc. boosted its holdings in Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after purchasing an additional 29 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 1.2 %

Shares of PANW stock opened at $277.71 on Monday. The firm has a market cap of $89.73 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 3.79 and a beta of 1.19. Palo Alto Networks, Inc. has a 12 month low of $176.30 and a 12 month high of $380.84. The stock has a 50-day moving average price of $295.46 and a 200 day moving average price of $291.20.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Sell-side analysts predict that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the sale, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PANW has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Citigroup boosted their target price on shares of Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Wedbush increased their price target on shares of Palo Alto Networks from $350.00 to $425.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Rosenblatt Securities lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $290.00 to $265.00 in a research report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $314.82.

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.