Livforsakringsbolaget Skandia Omsesidigt Acquires 334 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 74.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 782 shares of the network technology company’s stock after acquiring an additional 334 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Palo Alto Networks were worth $230,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GSG Advisors LLC grew its holdings in shares of Palo Alto Networks by 1.0% during the fourth quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock worth $1,478,000 after buying an additional 51 shares in the last quarter. Spirit of America Management Corp NY grew its holdings in shares of Palo Alto Networks by 50.0% during the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock worth $88,000 after buying an additional 100 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Palo Alto Networks by 148.9% during the third quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after buying an additional 113,534 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Palo Alto Networks by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock worth $32,143,000 after buying an additional 735 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. bought a new position in shares of Palo Alto Networks during the fourth quarter worth about $3,135,000. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,917 shares of company stock valued at $49,395,553. Corporate insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PANW. Citigroup raised their price target on Palo Alto Networks from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Piper Sandler downgraded Palo Alto Networks from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $350.00 to $300.00 in a research note on Wednesday, February 21st. Truist Financial raised their price target on Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a research note on Wednesday. Finally, Rosenblatt Securities cut Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price objective for the company from $290.00 to $265.00 in a research report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Trading Up 0.5 %

PANW stock traded up $1.25 during trading on Thursday, reaching $278.58. 314,118 shares of the stock were exchanged, compared to its average volume of 5,547,423. The firm’s 50 day moving average is $299.16 and its 200 day moving average is $290.18. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84. The firm has a market cap of $90.01 billion, a P/E ratio of 43.33, a price-to-earnings-growth ratio of 3.75 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. As a group, analysts predict that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

About Palo Alto Networks

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.