Mizuho Markets Americas LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 2,328 shares of the network technology company’s stock, valued at approximately $373,000.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Palo Alto Networks by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 67,929,063 shares of the network technology company’s stock worth $12,512,533,000 after buying an additional 2,659,100 shares during the last quarter. State Street Corp lifted its stake in Palo Alto Networks by 2.0% in the fourth quarter. State Street Corp now owns 30,331,705 shares of the network technology company’s stock valued at $5,587,100,000 after acquiring an additional 594,789 shares during the last quarter. Bank of America Corp DE lifted its stake in Palo Alto Networks by 11.9% in the fourth quarter. Bank of America Corp DE now owns 19,375,486 shares of the network technology company’s stock valued at $3,568,964,000 after acquiring an additional 2,065,776 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Palo Alto Networks by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 15,989,257 shares of the network technology company’s stock valued at $2,934,935,000 after acquiring an additional 540,756 shares during the period. Finally, Norges Bank bought a new position in shares of Palo Alto Networks in the 4th quarter valued at about $1,415,364,000. Institutional investors and hedge funds own 79.82% of the company’s stock.
Palo Alto Networks Stock Performance
NASDAQ:PANW opened at $323.79 on Friday. The stock has a 50 day simple moving average of $300.79 and a 200 day simple moving average of $217.58. The stock has a market cap of $263.89 billion, a P/E ratio of 265.40, a PEG ratio of 12.09 and a beta of 0.91. Palo Alto Networks, Inc. has a 1-year low of $139.57 and a 1-year high of $368.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on PANW. Susquehanna reaffirmed a “positive” rating and issued a $350.00 target price (up from $200.00) on shares of Palo Alto Networks in a report on Wednesday, June 3rd. Tigress Financial lifted their price target on Palo Alto Networks from $245.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Rosenblatt Securities boosted their price target on Palo Alto Networks from $275.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Robert W. Baird set a $320.00 price objective on Palo Alto Networks in a research note on Wednesday, June 3rd. Finally, HSBC raised their price objective on Palo Alto Networks from $114.00 to $207.00 in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.48.
Read Our Latest Stock Analysis on Palo Alto Networks
Insider Buying and Selling
In other Palo Alto Networks news, Director Helle Thorning-Schmidt sold 700 shares of Palo Alto Networks stock in a transaction dated 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 sale, the director owned 5,898 shares in the company, valued at $2,045,721.30. The trade was a 10.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Josh D. Paul sold 900 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $345.00, for a total transaction of $310,500.00. Following the completion of the sale, the chief accounting officer directly owned 79,644 shares of the company’s stock, valued at $27,477,180. This represents a 1.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 101,239 shares of company stock valued at $27,174,360 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
About Palo Alto Networks
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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