APG Asset Management US Inc. Has $3.75 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

APG Asset Management US Inc. increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 110.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,632 shares of the network technology company's stock after buying an additional 10,830 shares during the quarter. APG Asset Management US Inc.'s holdings in Palo Alto Networks were worth $3,754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SJS Investment Consulting Inc. raised its holdings in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Valued Wealth Advisors LLC boosted its holdings in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after purchasing an additional 101 shares during the last quarter. Abound Wealth Management grew its position in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PANW. Morgan Stanley set a $230.00 price objective on Palo Alto Networks in a report on Tuesday, March 18th. Susquehanna raised their price target on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research note on Tuesday, February 18th. Citigroup boosted their price target on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Cantor Fitzgerald reissued an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Finally, Truist Financial lowered their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.52.

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $89,532,411.35. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares of the company's stock, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the sale, the chief accounting officer now directly owns 47,976 shares in the company, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 939,318 shares of company stock valued at $165,384,602 over the last ninety days. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 0.0 %

Shares of NASDAQ:PANW traded up $0.07 during midday trading on Friday, hitting $168.34. The stock had a trading volume of 6,295,092 shares, compared to its average volume of 5,904,752. The company's 50-day moving average price is $182.29 and its 200-day moving average price is $184.90. Palo Alto Networks, Inc. has a fifty-two week low of $135.18 and a fifty-two week high of $208.39. The company has a market capitalization of $111.46 billion, a P/E ratio of 94.84, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Palo Alto Networks Profile

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.