Elo Mutual Pension Insurance Co Buys 28,654 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Elo Mutual Pension Insurance Co lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 93.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,428 shares of the network technology company's stock after purchasing an additional 28,654 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Palo Alto Networks were worth $10,815,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. increased 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 period. Valued Wealth Advisors LLC increased its position 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 stake in shares of Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its holdings in Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after acquiring an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 79 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PANW. BTIG Research downgraded shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Loop Capital cut their target price on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. Rosenblatt Securities increased their price objective on shares of Palo Alto Networks from $212.50 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Barclays lowered their price target on Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Three 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average target price of $205.06.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded down $1.68 during trading on Friday, hitting $172.76. The company's stock had a trading volume of 6,244,293 shares, compared to its average volume of 5,908,199. The stock has a market cap of $114.38 billion, a price-to-earnings ratio of 97.33, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39. The stock has a 50-day moving average price of $187.39 and a two-hundred day moving average price of $185.39.

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

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 700 shares of the company's stock in a transaction on Monday, February 3rd. The shares were 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 $8,694,210.72. This represents a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora sold 235,492 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. This trade represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,122,864 shares of company stock valued at $204,315,811. Company insiders own 2.50% of the company's stock.

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.