Deutsche Bank AG purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,343,546 shares of the network technology company’s stock, valued at approximately $1,481,236,000.
Several other hedge funds have also recently modified their holdings of the stock. Trilogy Capital Inc. grew its position in Palo Alto Networks by 1.8% during the 2nd quarter. Trilogy Capital Inc. now owns 2,127 shares of the network technology company’s stock worth $725,000 after purchasing an additional 37 shares during the last quarter. Wisconsin Wealth Advisors LLC increased its stake in Palo Alto Networks by 1.2% during the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 3,206 shares of the network technology company’s stock valued at $1,093,000 after purchasing an additional 38 shares in the last quarter. Orrstown Financial Services Inc. raised its holdings in shares of Palo Alto Networks by 1.2% in the second quarter. Orrstown Financial Services Inc. now owns 3,197 shares of the network technology company’s stock worth $1,090,000 after buying an additional 38 shares during the last quarter. GSG Advisors LLC lifted its stake in shares of Palo Alto Networks by 0.4% during the first quarter. GSG Advisors LLC now owns 12,536 shares of the network technology company’s stock worth $2,010,000 after buying an additional 51 shares during the period. Finally, Outfitters Financial LLC lifted its stake in shares of Palo Alto Networks by 1.7% during the fourth quarter. Outfitters Financial LLC now owns 3,265 shares of the network technology company’s stock worth $601,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.
Palo Alto Networks Stock Performance
Shares of PANW stock opened at $375.76 on Tuesday. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $398.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. The stock has a market cap of $306.24 billion, a PE ratio of 308.00, a price-to-earnings-growth ratio of 12.89 and a beta of 0.91. The business has a 50-day simple moving average of $330.20 and a 200-day simple moving average of $237.05.
Insider Buying and Selling at Palo Alto Networks
In related news, Director Helle Thorning-Schmidt sold 700 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $346.85, for a total value of $242,795.00. Following the completion of the transaction, the director directly owned 5,898 shares in the company, valued at $2,045,721.30. The trade was a 10.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $289.56, for a total transaction of $1,447,800.00. Following the sale, the executive vice president directly owned 145,250 shares in the company, valued at $42,058,590. This trade represents a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 101,239 shares of company stock worth $27,174,360. 1.40% of the stock is currently owned by insiders.
Analyst Ratings Changes
PANW has been the topic of several research reports. TD Cowen upped their target price on Palo Alto Networks from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Monday. Scotiabank reaffirmed a “sector outperform” rating and set a $320.00 price target (up from $180.00) on shares of Palo Alto Networks in a research report on Wednesday, June 3rd. Needham & Company LLC boosted their price target on Palo Alto Networks from $350.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald set a $340.00 price objective on Palo Alto Networks and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $434.00 price objective (up from $330.00) on shares of Palo Alto Networks in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, forty have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $342.61.
Check Out Our Latest Report on PANW
Palo Alto Networks Company 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.
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