Ilmarinen Mutual Pension Insurance Co Boosts Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Ilmarinen Mutual Pension Insurance Co increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 185.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the network technology company's stock after buying an additional 65,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Palo Alto Networks were worth $18,196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares during the period. Geode Capital Management LLC raised its position in Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after purchasing an additional 6,725,148 shares in the last quarter. Norges Bank purchased a new stake in shares of Palo Alto Networks in the 4th quarter worth $970,736,000. Jennison Associates LLC grew its position in shares of Palo Alto Networks by 83.0% during 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 buying an additional 2,612,474 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Palo Alto Networks by 86.9% during the fourth quarter. Clearbridge Investments LLC now owns 4,775,171 shares of the network technology company's stock valued at $868,890,000 after buying an additional 2,220,130 shares during the period. Institutional investors own 79.82% of the company's stock.

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Palo Alto Networks Trading Up 2.5 %

Shares of Palo Alto Networks stock traded up $3.75 during trading hours on Wednesday, reaching $156.28. The stock had a trading volume of 2,478,621 shares, compared to its average volume of 5,829,401. Palo Alto Networks, Inc. has a twelve month low of $135.18 and a twelve month high of $208.39. The firm has a market capitalization of $103.47 billion, a PE ratio of 88.20, a PEG ratio of 5.64 and a beta of 1.07. The stock's 50 day moving average is $183.39 and its 200 day moving average is $184.91.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PANW shares. Westpark Capital reaffirmed a "hold" rating and issued a $196.40 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Truist Financial dropped their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Morgan Stanley set a $230.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, March 18th. Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a research report on Monday, March 31st. Finally, Scotiabank lifted their price target on Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average target price of $204.27.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the transaction, the executive vice president now directly owns 358,197 shares of the company's stock, valued at $65,353,042.65. This trade represents a 21.77 % 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 700 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the sale, the chief accounting officer now directly owns 47,976 shares of the company's stock, valued at $8,694,210.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 818,544 shares of company stock valued at $147,132,028. 2.50% of the stock is owned by corporate insiders.

About Palo Alto Networks

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.