Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Increased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 353,610 shares of the network technology company’s stock after purchasing an additional 879 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.11% of Palo Alto Networks worth $117,544,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after buying an additional 1,002,239 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Palo Alto Networks by 34,318.2% in the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after acquiring an additional 3,249,594 shares during the period. Legal & General Group Plc boosted its stake in Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after purchasing an additional 255,060 shares in the last quarter. Jennison Associates LLC increased its position in shares of Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after purchasing an additional 198,078 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Palo Alto Networks by 5.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock worth $757,321,000 after buying an additional 114,742 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the transaction, the executive vice president now directly owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the sale, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock worth $118,643,279 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

PANW has been the subject of several research reports. Northland Securities raised their target price on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research note on Tuesday, August 20th. BNP Paribas assumed coverage on shares of Palo Alto Networks in a research report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price objective for the company. KeyCorp boosted their target price on shares of Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. DA Davidson raised their target price on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Evercore ISI lifted their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $376.82.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $366.44 on Friday. The business’s 50-day simple moving average is $351.91 and its 200-day simple moving average is $326.46. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00. The firm has a market cap of $119.31 billion, a price-to-earnings ratio of 50.54, a P/E/G ratio of 5.45 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

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.