Prudential PLC Acquires 11,923 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Prudential PLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 121.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,729 shares of the network technology company’s stock after buying an additional 11,923 shares during the quarter. Prudential PLC’s holdings in Palo Alto Networks were worth $6,407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Frank Rimerman Advisors LLC acquired a new position in Palo Alto Networks in the 4th quarter worth about $27,000. Webster Bank N. A. increased its stake in shares of Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares during the period. Cedar Mountain Advisors LLC increased its stake in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after buying an additional 47 shares during the period. MV Capital Management Inc. increased its stake in shares of 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 valued at $32,000 after buying an additional 29 shares during the period. Finally, First United Bank & Trust acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the completion of the sale, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. Insiders sold a total of 314,897 shares of company stock valued at $90,909,807 over the last 90 days. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Up 2.0 %

Palo Alto Networks stock traded up $5.97 during mid-day trading on Friday, reaching $301.90. 2,607,990 shares of the company’s stock were exchanged, compared to its average volume of 4,158,714. The firm has a market capitalization of $97.76 billion, a PE ratio of 43.88, a P/E/G ratio of 4.55 and a beta of 1.10. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84. The business’s fifty day simple moving average is $293.53 and its 200 day simple moving average is $303.21.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PANW shares. Daiwa America raised Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Argus increased their price target on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. KeyCorp raised their target price on Palo Alto Networks from $355.00 to $384.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Finally, Royal Bank of Canada decreased their target price on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Twelve investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $322.78.

Read Our Latest Stock Analysis on Palo Alto Networks

Palo Alto Networks Company 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.

See Also

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

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