Citizens Financial Group Inc. RI Has $3.74 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Citizens Financial Group Inc. RI raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 96.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,541 shares of the network technology company's stock after purchasing an additional 10,076 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Palo Alto Networks were worth $3,738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PANW. Jennison Associates LLC grew its position in Palo Alto Networks by 83.0% in the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock worth $1,048,033,000 after purchasing an additional 2,612,474 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Palo Alto Networks by 109.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,202,926 shares of the network technology company's stock worth $764,764,000 after buying an additional 2,197,765 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $388,155,000. Nordea Investment Management AB increased its position in shares of Palo Alto Networks by 199.1% during the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company's stock valued at $333,925,000 after acquiring an additional 1,213,073 shares during the last quarter. Finally, Swedbank AB lifted its holdings in Palo Alto Networks by 107.8% during the fourth quarter. Swedbank AB now owns 1,634,701 shares of the network technology company's stock worth $297,450,000 after acquiring an additional 848,127 shares during the period. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $178.93 on Wednesday. The business has a 50-day moving average of $185.78 and a 200 day moving average of $184.83. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The stock has a market capitalization of $118.47 billion, a PE ratio of 100.81, a P/E/G ratio of 5.64 and a beta of 1.04.

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

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the transaction, the executive vice president now owns 358,197 shares of the company's stock, valued at $65,353,042.65. This represents a 21.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the sale, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock valued at $204,315,811 in the last quarter. Insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their target price on Palo Alto Networks from $195.00 to $212.50 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Westpark Capital reissued a "hold" rating and set a $196.40 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. StockNews.com cut shares of Palo Alto Networks from a "buy" rating to a "hold" rating in a report on Tuesday, December 24th. Piper Sandler increased their price objective on Palo Alto Networks from $165.00 to $192.50 and gave the company a "neutral" rating in a report on Thursday, November 21st. Finally, Bank of America boosted their target price on Palo Alto Networks from $200.00 to $215.00 and gave the company a "neutral" rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.06.

Palo Alto Networks Company 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.

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