Vise Technologies Inc. acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,556 shares of the network technology company’s stock, valued at approximately $1,956,000.
Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Palo Alto Networks in the 1st quarter valued at about $810,047,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Palo Alto Networks in the 2nd quarter worth approximately $633,068,000. Goldman Sachs Group Inc. lifted its stake in Palo Alto Networks by 41.9% during the first quarter. Goldman Sachs Group Inc. now owns 7,235,406 shares of the network technology company’s stock valued at $1,234,650,000 after purchasing an additional 2,134,735 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Palo Alto Networks by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,879,506 shares of the network technology company’s stock worth $662,000,000 after buying an additional 1,688,432 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Palo Alto Networks by 2.5% in the first quarter. Vanguard Group Inc. now owns 62,775,544 shares of the network technology company’s stock worth $10,712,019,000 after buying an additional 1,541,637 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.
Palo Alto Networks Stock Performance
Shares of PANW opened at $218.27 on Wednesday. The company has a market capitalization of $149.29 billion, a PE ratio of 135.99, a PEG ratio of 5.15 and a beta of 0.95. The company’s 50 day moving average price is $208.24 and its 200 day moving average price is $196.75. Palo Alto Networks, Inc. has a 52 week low of $144.15 and a 52 week high of $223.61.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on PANW shares. Wedbush reiterated an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a research report on Monday, September 15th. Truist Financial set a $220.00 target price on Palo Alto Networks and gave the company a “buy” rating in a report on Tuesday, August 19th. BTIG Research raised Palo Alto Networks from a “neutral” rating to a “buy” rating in a research note on Monday, October 13th. Sanford C. Bernstein set a $207.00 price objective on shares of Palo Alto Networks and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Finally, Oppenheimer lifted their target price on shares of Palo Alto Networks from $225.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Thirty investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.67.
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Insider Transactions at Palo Alto Networks
In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $204.19, for a total value of $1,020,950.00. Following the transaction, the executive vice president directly owned 96,135 shares of the company’s stock, valued at $19,629,805.65. This represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $219.97, for a total value of $153,979.00. Following the sale, the chief accounting officer owned 47,505 shares of the company’s stock, valued at approximately $10,449,674.85. This represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,215,830 shares of company stock worth $249,160,428. 2.50% of the stock is owned by company insiders.
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.
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