Livforsakringsbolaget Skandia Omsesidigt Purchases 334 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 74.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 782 shares of the network technology company’s stock after acquiring an additional 334 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Palo Alto Networks were worth $230,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Palo Alto Networks during the 4th quarter valued at approximately $9,878,000. Telos Capital Management Inc. acquired a new position in Palo Alto Networks during the 4th quarter valued at approximately $1,803,000. Rakuten Securities Inc. acquired a new position in Palo Alto Networks during the 4th quarter valued at approximately $770,000. Quantum Private Wealth LLC increased its stake in Palo Alto Networks by 11.2% during the 4th quarter. Quantum Private Wealth LLC now owns 5,170 shares of the network technology company’s stock valued at $1,525,000 after purchasing an additional 520 shares in the last quarter. Finally, Mirova US LLC purchased a new stake in shares of Palo Alto Networks in the 4th quarter valued at $106,638,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In related news, 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 transaction, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 transaction, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction 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 approximately $7,629,160. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is owned by insiders.

Palo Alto Networks Stock Up 0.5 %

Shares of Palo Alto Networks stock traded up $1.25 on Thursday, hitting $278.58. The company’s stock had a trading volume of 314,118 shares, compared to its average volume of 5,547,423. Palo Alto Networks, Inc. has a 52-week low of $176.30 and a 52-week high of $380.84. The firm has a fifty day moving average price of $299.16 and a 200-day moving average price of $290.18. The company has a market capitalization of $90.01 billion, a P/E ratio of 43.33, a price-to-earnings-growth ratio of 3.75 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.97 billion. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on PANW shares. Evercore ISI upped their price objective on shares of Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Oppenheimer increased their price target on shares of Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday. JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 21st. Piper Sandler downgraded shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $350.00 to $300.00 in a report on Wednesday, February 21st. Finally, Truist Financial increased their price target on shares of Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.