Federated Hermes Inc. Has $107.08 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Federated Hermes Inc. lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,133 shares of the network technology company’s stock after purchasing an additional 75,183 shares during the quarter. Federated Hermes Inc.’s holdings in Palo Alto Networks were worth $107,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. GSG Advisors LLC boosted its stake in Palo Alto Networks by 1.0% in the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after buying an additional 51 shares in the last quarter. Spirit of America Management Corp NY boosted its stake in Palo Alto Networks by 50.0% in the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock worth $88,000 after purchasing an additional 100 shares in the last quarter. Truist Financial Corp boosted its stake in Palo Alto Networks by 148.9% in the third quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after purchasing an additional 113,534 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Palo Alto Networks by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock worth $32,143,000 after purchasing an additional 735 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. acquired a new position in Palo Alto Networks in the fourth quarter worth $3,135,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,917 shares of company stock worth $49,395,553. Company insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PANW shares. The Goldman Sachs Group boosted their price objective on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Oppenheimer boosted their price objective on Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Wednesday. Loop Capital lowered Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research note on Wednesday, February 21st. Cantor Fitzgerald restated an “overweight” rating and set a $350.00 target price on shares of Palo Alto Networks in a research report on Wednesday. Finally, Scotiabank dropped their target price on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a research report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $281.14 on Friday. The stock has a market capitalization of $90.84 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 3.78 and a beta of 1.19. The business has a 50-day moving average of $297.44 and a 200-day moving average of $290.12. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.76 EPS 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.