Mariner LLC Purchases 18,975 Shares of Palo Alto Networks, Inc. $PANW

Mariner LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 674,525 shares of the network technology company’s stock after purchasing an additional 18,975 shares during the period. Mariner LLC owned 0.10% of Palo Alto Networks worth $137,349,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Norges Bank purchased a new stake in Palo Alto Networks in the 2nd quarter worth approximately $675,865,000. ABN AMRO Bank N.V. purchased a new position in shares of Palo Alto Networks during the second quarter valued at approximately $340,883,000. Victory Capital Management Inc. increased its stake in shares of Palo Alto Networks by 108.3% during the third quarter. Victory Capital Management Inc. now owns 2,467,692 shares of the network technology company’s stock valued at $502,263,000 after buying an additional 1,282,738 shares during the period. Vanguard Group Inc. raised its holdings in shares of Palo Alto Networks by 2.0% during the third quarter. Vanguard Group Inc. now owns 65,269,963 shares of the network technology company’s stock valued at $13,290,270,000 after acquiring an additional 1,253,589 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Palo Alto Networks by 97.9% in the second quarter. California Public Employees Retirement System now owns 2,104,939 shares of the network technology company’s stock worth $430,755,000 after acquiring an additional 1,041,145 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Up 0.3%

Shares of PANW stock opened at $167.45 on Tuesday. The business’s fifty day moving average is $169.55 and its 200 day moving average is $189.35. The stock has a market cap of $136.64 billion, a price-to-earnings ratio of 92.51, a PEG ratio of 6.03 and a beta of 0.78. Palo Alto Networks, Inc. has a twelve month low of $139.57 and a twelve month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.94 by $0.09. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PANW. Cantor Fitzgerald reiterated an “overweight” rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Jefferies Financial Group restated a “buy” rating on shares of Palo Alto Networks in a report on Wednesday, February 4th. DA Davidson set a $190.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Susquehanna cut their target price on shares of Palo Alto Networks from $230.00 to $200.00 and set a “positive” rating on the stock in a research note on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Palo Alto Networks in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.19.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director James J. Goetz sold 22,684 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $164.41, for a total value of $3,729,476.44. Following the sale, the director owned 52,500 shares in the company, valued at approximately $8,631,525. This represents a 30.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 800 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total transaction of $147,848.00. Following the transaction, the chief accounting officer directly owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,252 shares of company stock valued at $27,888,535 in the last quarter. 1.40% of the stock is owned by insiders.

Palo Alto Networks 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.