Railway Pension Investments Ltd Lowers Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Railway Pension Investments Ltd decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 87,500 shares of the network technology company’s stock after selling 1,300 shares during the period. Railway Pension Investments Ltd’s holdings in Palo Alto Networks were worth $22,357,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PANW. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Palo Alto Networks by 73,750.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,399,618 shares of the network technology company’s stock valued at $5,212,306,000 after purchasing an additional 20,371,995 shares during the period. Norges Bank purchased a new stake in Palo Alto Networks in the 4th quarter valued at about $751,276,000. Moneta Group Investment Advisors LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter valued at about $204,728,000. Northern Trust Corp lifted its holdings in shares of Palo Alto Networks by 27.2% during the 2nd quarter. Northern Trust Corp now owns 3,343,304 shares of the network technology company’s stock worth $854,248,000 after acquiring an additional 715,850 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Palo Alto Networks by 60.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,625,961 shares of the network technology company’s stock worth $415,449,000 after acquiring an additional 611,608 shares during the last quarter. Institutional investors and hedge funds own 85.69% of the company’s stock.

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 Friday, November 3rd. The shares were sold at an average price of $243.48, for a total transaction of $10,956,600.00. Following the completion of the transaction, the executive vice president now owns 185,217 shares in the company, valued at $45,096,635.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $243.48, for a total transaction of $10,956,600.00. Following the completion of the transaction, the executive vice president now directly owns 185,217 shares in the company, valued at $45,096,635.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $245.00, for a total value of $61,250.00. Following the completion of the sale, the chief accounting officer now owns 30,285 shares in the company, valued at $7,419,825. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,890 shares of company stock worth $42,637,820. 3.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PANW. Robert W. Baird increased their price target on shares of Palo Alto Networks from $235.00 to $273.00 and gave the stock an “outperform” rating in a research note on Monday, August 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $280.00 target price on shares of Palo Alto Networks in a research report on Tuesday, November 14th. JMP Securities reissued a “market outperform” rating and set a $300.00 price target on shares of Palo Alto Networks in a research report on Thursday, November 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $280.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 16th. Finally, Barclays boosted their target price on Palo Alto Networks from $245.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Five research analysts have rated the stock with a hold rating and thirty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $276.58.

Palo Alto Networks Trading Down 0.0 %

NASDAQ PANW traded down $0.03 during trading hours on Tuesday, reaching $260.54. The company’s stock had a trading volume of 857,605 shares, compared to its average volume of 4,617,670. The business has a 50-day simple moving average of $244.74 and a 200 day simple moving average of $234.70. Palo Alto Networks, Inc. has a 52 week low of $132.22 and a 52 week high of $265.90. The stock has a market cap of $80.98 billion, a PE ratio of 148.05, a PEG ratio of 3.48 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Friday, August 18th. The network technology company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.15. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. Palo Alto Networks had a return on equity of 48.58% and a net margin of 8.52%. The business’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 2.51 EPS for the current year.

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.