Palo Alto Networks, Inc. $PANW Shares Sold by Towarzystwo Funduszy Inwestycyjnych PZU SA

Towarzystwo Funduszy Inwestycyjnych PZU SA reduced its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 93.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,175 shares of the network technology company’s stock after selling 43,437 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA’s holdings in Palo Alto Networks were worth $646,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Exchange Traded Concepts LLC raised its stake in Palo Alto Networks by 29.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 32,155 shares of the network technology company’s stock valued at $6,547,000 after acquiring an additional 7,301 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Palo Alto Networks in the 3rd quarter valued at approximately $75,412,000. American Century Companies Inc. grew its stake in shares of Palo Alto Networks by 134.1% in the 3rd quarter. American Century Companies Inc. now owns 672,129 shares of the network technology company’s stock valued at $136,859,000 after purchasing an additional 384,985 shares during the last quarter. US Bancorp DE increased its holdings in shares of Palo Alto Networks by 0.6% in the third quarter. US Bancorp DE now owns 1,364,442 shares of the network technology company’s stock valued at $277,828,000 after purchasing an additional 8,344 shares during the period. Finally, Silver Oak Securities Incorporated increased its holdings in shares of Palo Alto Networks by 240.1% in the third quarter. Silver Oak Securities Incorporated now owns 11,732 shares of the network technology company’s stock valued at $2,389,000 after purchasing an additional 8,282 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 0.7%

NASDAQ:PANW opened at $167.01 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $223.61. The stock has a market cap of $136.28 billion, a PE ratio of 92.27, a price-to-earnings-growth ratio of 6.07 and a beta of 0.78. The firm’s fifty day simple moving average is $169.84 and its 200-day simple moving average is $189.47.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.94 by $0.09. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 earnings per share. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

PANW has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Palo Alto Networks in a research note on Monday, December 29th. Northland Securities raised their target price on shares of Palo Alto Networks from $177.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group dropped their price target on shares of Palo Alto Networks from $240.00 to $224.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.19.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,768 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $191.03, for a total transaction of $23,070,311.04. Following the completion of the sale, the executive vice president directly owned 298,887 shares in the company, valued at approximately $57,096,383.61. This trade represents a 28.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James J. Goetz sold 22,684 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $164.41, for a total value of $3,729,476.44. Following the sale, the director directly owned 52,500 shares in the company, valued at $8,631,525. This trade represents a 30.17% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 149,252 shares of company stock valued at $27,888,535. 1.40% of the stock is currently owned by corporate insiders.

Palo Alto Networks Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.