Handelsbanken Fonder AB grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 26.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 547,696 shares of the network technology company’s stock after acquiring an additional 113,795 shares during the period. Handelsbanken Fonder AB’s holdings in Palo Alto Networks were worth $100,886,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of Palo Alto Networks in the 2nd quarter valued at $25,000. Knuff & Co LLC purchased a new position in shares of Palo Alto Networks in the 4th quarter valued at $26,000. Steph & Co. raised its stake in shares of Palo Alto Networks by 88.2% in the 4th quarter. Steph & Co. now owns 143 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 67 shares during the period. Winch Advisory Services LLC raised its stake in shares of Palo Alto Networks by 96.1% in the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 73 shares during the period. Finally, WHI TRUST Co LLC purchased a new position in shares of Palo Alto Networks in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 18th. JPMorgan Chase & Co. dropped their price target on shares of Palo Alto Networks from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. HSBC dropped their price target on shares of Palo Alto Networks from $157.00 to $114.00 in a research note on Thursday, February 19th. Robert W. Baird lifted their price target on shares of Palo Alto Networks from $220.00 to $265.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.59.
Palo Alto Networks Price Performance
Palo Alto Networks stock opened at $247.55 on Tuesday. The company has a market capitalization of $202.00 billion, a price-to-earnings ratio of 136.77, a price-to-earnings-growth ratio of 8.75 and a beta of 0.77. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $248.85. The firm’s fifty day moving average price is $176.50 and its 200 day moving average price is $181.18.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.09. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.58 billion. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the business earned $0.81 EPS. Analysts forecast that Palo Alto Networks, Inc. will post 2.14 earnings per share for the current fiscal year.
Insider Activity at Palo Alto Networks
In other Palo Alto Networks news, Director James J. Goetz sold 22,684 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the completion of the transaction, the director directly owned 52,500 shares of the company’s stock, valued at $8,631,525. This trade represents a 30.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora acquired 68,085 shares of the firm’s stock in a transaction on Friday, March 27th. The shares were bought at an average cost of $146.87 per share, with a total value of $9,999,643.95. Following the completion of the acquisition, the chief executive officer owned 343,394 shares in the company, valued at $50,434,276.78. This represents a 24.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 30,356 shares of company stock worth $4,981,575 over the last 90 days. Company insiders own 1.40% of the company’s stock.
Key Headlines Impacting Palo Alto Networks
Here are the key news stories impacting Palo Alto Networks this week:
- Positive Sentiment: Mizuho raised its price target on Palo Alto Networks to $265 from $200 and reiterated an Outperform rating, signaling confidence in further upside for the stock. Mizuho Adjusts Price Target on Palo Alto Networks to 265 from 200
- Positive Sentiment: Rosenblatt Securities raised its price target to $275 from $225 and maintained a Buy rating, adding to the bullish outlook from Wall Street. Rosenblatt Securities Adjusts Palo Alto Networks Price Target to 275 from 225
- Positive Sentiment: Zacks noted PANW was advancing even as the broader market declined, suggesting relative strength and continued investor demand for the shares. Palo Alto Networks Advances While Market Declines: Some Information for Investors
- Neutral Sentiment: Commentary from Jim Cramer highlighted why Palo Alto Networks is drawing attention, reinforcing the stock’s momentum but without a clear new fundamental catalyst. Jim Cramer Shares Why Palo Alto Is Having The Last Laugh
- Neutral Sentiment: A Zacks comparison piece said CrowdStrike currently has an edge over PANW based on growth and ARR trends, but it appeared more like sector comparison than a direct negative catalyst for Palo Alto Networks. CRWD vs. PANW Which Cybersecurity Stock Has an Edge Right Now
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.
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