Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Position Increased by Good Life Advisors LLC

Good Life Advisors LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 57.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,167 shares of the network technology company’s stock after buying an additional 428 shares during the quarter. Good Life Advisors LLC’s holdings in Palo Alto Networks were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PANW. Jennison Associates LLC raised its stake in shares of Palo Alto Networks by 83.0% in 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. Nordea Investment Management AB raised its stake in shares of Palo Alto Networks by 199.1% in the 4th quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock worth $333,925,000 after buying an additional 1,213,073 shares in the last quarter. Swedbank AB raised its stake in shares of Palo Alto Networks by 107.8% in the 4th quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock worth $297,450,000 after buying an additional 848,127 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Palo Alto Networks by 104.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,722 shares of the network technology company’s stock worth $284,353,000 after purchasing an additional 796,964 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Palo Alto Networks by 100.6% during the fourth quarter. Fifth Third Bancorp now owns 1,374,653 shares of the network technology company’s stock worth $250,132,000 after purchasing an additional 689,458 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $191.03 on Friday. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39. The stock has a market capitalization of $126.48 billion, a PE ratio of 107.62, a P/E/G ratio of 5.82 and a beta of 1.14. The stock has a 50-day simple moving average of $187.20 and a 200 day simple moving average of $182.95.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a research report on Thursday, November 21st. 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. Morgan Stanley boosted their target price on Palo Alto Networks from $223.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. KeyCorp boosted their target price on Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Truist Financial boosted their target price on Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a research report on Monday, November 18th. 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 one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.69.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nir Zuk sold 336,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the completion of the transaction, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,458,864 shares of company stock valued at $269,397,331. Insiders own 2.50% of the company’s stock.

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.