Ieq Capital LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 14.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 204,710 shares of the network technology company’s stock after acquiring an additional 25,701 shares during the quarter. Ieq Capital LLC’s holdings in Palo Alto Networks were worth $37,708,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position 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 valued at $12,512,533,000 after purchasing an additional 2,659,100 shares during the last quarter. State Street Corp lifted its position in Palo Alto Networks by 1.7% during the third quarter. State Street Corp now owns 29,736,916 shares of the network technology company’s stock valued at $6,055,031,000 after purchasing an additional 505,924 shares during the last quarter. Geode Capital Management LLC lifted its position in Palo Alto Networks by 3.5% during the fourth 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 purchasing an additional 540,756 shares during the last quarter. Norges Bank bought a new position in Palo Alto Networks during the fourth quarter valued at $1,415,364,000. Finally, Northern Trust Corp lifted its position in Palo Alto Networks by 0.5% during the third quarter. Northern Trust Corp now owns 7,528,248 shares of the network technology company’s stock valued at $1,532,902,000 after purchasing an additional 36,511 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.
Palo Alto Networks Trading Up 0.0%
PANW stock opened at $279.62 on Friday. The company has a market capitalization of $227.89 billion, a PE ratio of 229.20, a P/E/G ratio of 10.38 and a beta of 0.94. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $302.95. The firm’s 50-day moving average is $216.44 and its 200 day moving average is $189.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Needham & Company LLC increased their price objective on shares of Palo Alto Networks from $200.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. BMO Capital Markets increased their price objective on shares of Palo Alto Networks from $270.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group set a $335.00 price objective on shares of Palo Alto Networks and gave the company a “buy” rating in a research report on Wednesday, June 3rd. The Goldman Sachs Group reiterated a “buy” rating and set a $330.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, June 3rd. Finally, Robert W. Baird set a $320.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $306.59.
Get Our Latest Stock Report on Palo Alto Networks
Insider Buying and Selling
In related news, CEO Nikesh Arora purchased 68,085 shares of Palo Alto Networks stock in a transaction that occurred on Friday, March 27th. The shares were bought at an average price of $146.87 per share, with a total value of $9,999,643.95. Following the purchase, the chief executive officer directly owned 343,394 shares of the company’s stock, valued at approximately $50,434,276.78. This represents a 24.73% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Key sold 7,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $279.24, for a total transaction of $2,094,300.00. Following the completion of the transaction, the director directly owned 12,500 shares in the company, valued at $3,490,500. This represents a 37.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 81,044 shares of company stock worth $20,424,722 over the last ninety days. 1.40% of the stock is owned by insiders.
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.
See Also
- Five stocks we like better than Palo Alto Networks
- SpaceX Rings the Bell and Shatters Every Record
- Adobe Stock Just Got Cheaper—Is Wall Street Missing the Story?
- 3 Dividend Stocks Under $50 That Pay You to Wait Out Inflation
- The 127-Gigawatt Problem: Why AI Needs Its Own Power
Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report).
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.
