Qtron Investments LLC Acquires 3,632 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Qtron Investments LLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 67.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,025 shares of the network technology company's stock after purchasing an additional 3,632 shares during the period. Qtron Investments LLC's holdings in Palo Alto Networks were worth $1,642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PANW. Philadelphia Trust Co. grew its holdings in Palo Alto Networks by 95.9% in the 4th quarter. Philadelphia Trust Co. now owns 150,385 shares of the network technology company's stock worth $27,364,000 after buying an additional 73,626 shares in the last quarter. Manhattan West Asset Management LLC raised its position in shares of Palo Alto Networks by 103.0% during the 4th quarter. Manhattan West Asset Management LLC now owns 1,575 shares of the network technology company's stock worth $287,000 after buying an additional 799 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Palo Alto Networks by 98.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 785,396 shares of the network technology company's stock valued at $142,915,000 after acquiring an additional 388,947 shares in the last quarter. Petros Family Wealth LLC acquired a new position in shares of Palo Alto Networks during the fourth quarter valued at approximately $580,000. Finally, NFP Retirement Inc. boosted its stake in Palo Alto Networks by 100.0% during the 4th quarter. NFP Retirement Inc. now owns 2,702 shares of the network technology company's stock valued at $492,000 after purchasing an additional 1,351 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

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Analysts Set New Price Targets

Several analysts recently commented on the stock. BTIG Research lowered shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 8th. Jefferies Financial Group lowered their target price on Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Truist Financial reduced their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Susquehanna boosted their price target on Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research report on Tuesday, February 18th. Finally, Guggenheim lowered shares of Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus price target of $204.52.

Insider Activity at Palo Alto Networks

In other news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. This represents a 2.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the company'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 completion of the sale, the executive vice president now owns 358,197 shares in the company, valued at $65,353,042.65. This represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,039,318 shares of company stock valued at $181,925,602. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Performance

NASDAQ:PANW traded up $1.64 during mid-day trading on Monday, hitting $169.98. The company had a trading volume of 5,098,383 shares, compared to its average volume of 5,901,559. The firm has a market cap of $112.54 billion, a P/E ratio of 95.76, a P/E/G ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a fifty-two week low of $135.18 and a fifty-two week high of $208.39. The business's fifty day moving average is $182.29 and its two-hundred day moving average is $184.90.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) 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 analysts' expectations of $2.24 billion. Equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.