Prudential PLC Purchases 35,168 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Prudential PLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 94.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,326 shares of the network technology company's stock after purchasing an additional 35,168 shares during the period. Prudential PLC's holdings in Palo Alto Networks were worth $13,160,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PANW. SJS Investment Consulting Inc. raised its holdings in 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 worth $25,000 after purchasing an additional 69 shares in the last quarter. Valued Wealth Advisors LLC grew its position in shares of Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after buying an additional 101 shares during the period. Abound Wealth Management increased its stake in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 79 shares during the period. 79.82% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

PANW has been the topic of a number of analyst reports. JMP Securities boosted their price target on Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Royal Bank of Canada reissued an "outperform" rating and issued a $225.00 target price on shares of Palo Alto Networks in a research note on Monday, February 10th. Citigroup raised their price target on Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Loop Capital reduced their price objective on shares of Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating for the company in a research note on Tuesday, January 14th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a research note on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $204.27.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares in the company, valued at approximately $54,854,038.83. The trade was a 41.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,114,786 shares of company stock worth $200,426,637 over the last ninety days. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded down $11.60 during midday trading on Friday, reaching $153.57. 8,982,361 shares of the stock traded hands, compared to its average volume of 5,870,661. The company's 50 day moving average is $185.60 and its 200 day moving average is $185.10. Palo Alto Networks, Inc. has a one year low of $132.83 and a one year high of $208.39. The stock has a market capitalization of $101.68 billion, a PE ratio of 86.52, a P/E/G ratio of 5.64 and a beta of 1.04.

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

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.