Maxi Investments CY Ltd Has $1.61 Million Holdings in Palo Alto Networks, Inc. $PANW

Maxi Investments CY Ltd increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 216.0% during the third quarter, Holdings Channel reports. The fund owned 7,900 shares of the network technology company’s stock after purchasing an additional 5,400 shares during the period. Maxi Investments CY Ltd’s holdings in Palo Alto Networks were worth $1,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew 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 worth $13,290,270,000 after purchasing an additional 1,253,589 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Palo Alto Networks by 11.5% in the third quarter. First Trust Advisors LP now owns 5,906,963 shares of the network technology company’s stock valued at $1,202,776,000 after buying an additional 611,375 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Palo Alto Networks by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,476,638 shares of the network technology company’s stock valued at $916,099,000 after buying an additional 54,601 shares during the last quarter. Franklin Resources Inc. lifted its position in Palo Alto Networks by 0.4% during the 3rd quarter. Franklin Resources Inc. now owns 4,037,320 shares of the network technology company’s stock worth $822,079,000 after buying an additional 17,394 shares in the last quarter. Finally, Amundi lifted its position in Palo Alto Networks by 25.1% during the 3rd quarter. Amundi now owns 3,532,201 shares of the network technology company’s stock worth $750,875,000 after buying an additional 708,332 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,768 shares of the 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 owned 298,887 shares of the company’s stock, valued at $57,096,383.61. This represents a 28.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $184.81, for a total value of $147,848.00. Following the completion of the transaction, the chief accounting officer owned 46,005 shares in the company, valued at $8,502,184.05. This represents a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,252 shares of company stock worth $27,888,535 over the last quarter. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Trading Up 0.3%

Palo Alto Networks stock opened at $167.45 on Tuesday. The company has a market cap of $136.64 billion, a PE ratio of 92.51, a PEG ratio of 6.03 and a beta of 0.78. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $223.61. The company’s 50-day moving average is $169.55 and its two-hundred day moving average is $189.35.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the company earned $0.81 EPS. Palo Alto Networks’s revenue was up 14.9% on a year-over-year basis. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

PANW has been the subject of several research reports. Robert W. Baird set a $220.00 price objective on shares of Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, February 18th. UBS Group set a $183.00 target price on shares of Palo Alto Networks in a research report on Thursday, February 19th. Loop Capital decreased their price target on shares of Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, February 18th. Wolfe Research raised their price target on shares of Palo Alto Networks from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Finally, Citigroup restated a “buy” rating and issued a $210.00 price objective (down from $235.00) on shares of Palo Alto Networks in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $210.19.

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.