Palo Alto Networks, Inc. $PANW Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 668,312 shares of the network technology company’s stock after purchasing an additional 22,088 shares during the quarter. Palo Alto Networks makes up 1.6% of Penserra Capital Management LLC’s holdings, making the stock its 6th largest position. Penserra Capital Management LLC owned about 0.10% of Palo Alto Networks worth $136,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Darwin Wealth Management LLC bought a new position in shares of Palo Alto Networks during the 2nd quarter worth approximately $25,000. Whipplewood Advisors LLC lifted its holdings in Palo Alto Networks by 6,400.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Briaud Financial Planning Inc acquired a new stake in Palo Alto Networks during the 2nd quarter valued at $28,000. Howard Hughes Medical Institute bought a new position in Palo Alto Networks during the second quarter worth $29,000. Finally, MTM Investment Management LLC acquired a new position in shares of Palo Alto Networks in the second quarter valued at $31,000. Institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total value of $940,900.00. Following the transaction, the executive vice president owned 155,119 shares in the company, valued at approximately $29,190,293.42. This trade represents a 3.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,768 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $191.03, for a total value of $23,070,311.04. Following the transaction, the executive vice president directly owned 298,887 shares of the company’s stock, valued at $57,096,383.61. This trade represents a 28.78% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 260,542 shares of company stock worth $49,910,995. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Stock Down 5.2%

PANW stock opened at $166.24 on Wednesday. The company’s 50-day moving average price is $186.65 and its two-hundred day moving average price is $194.25. The firm has a market cap of $115.87 billion, a P/E ratio of 105.22, a P/E/G ratio of 4.18 and a beta of 0.75. Palo Alto Networks, Inc. has a 12 month low of $144.15 and a 12 month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the business posted $1.56 EPS. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PANW. Piper Sandler restated an “overweight” rating and set a $265.00 target price (up previously from $230.00) on shares of Palo Alto Networks in a research note on Monday, January 5th. UBS Group set a $215.00 price objective on Palo Alto Networks and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Sanford C. Bernstein upped their target price on Palo Alto Networks from $207.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Wednesday, December 17th. Finally, Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a report on Thursday, November 20th. Thirty-one analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.09.

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.