Tokio Marine Asset Management Co. Ltd. Purchases 424 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,510 shares of the network technology company’s stock after acquiring an additional 424 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Palo Alto Networks were worth $2,215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PANW. First Pacific Financial lifted its stake in shares of Palo Alto Networks by 421.7% in the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after purchasing an additional 97 shares during the period. Webster Bank N. A. lifted its stake in shares of Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the period. Byrne Asset Management LLC lifted its stake in shares of Palo Alto Networks by 277.8% in the 3rd quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock worth $32,000 after purchasing an additional 100 shares during the period. Finally, MV Capital Management Inc. lifted its stake in shares of Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after purchasing an additional 29 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the transaction, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 45,000 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. Insiders sold a total of 167,917 shares of company stock worth $49,395,553 in the last three months. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Price Performance

NASDAQ:PANW traded down $3.99 during trading hours on Thursday, reaching $289.83. The company had a trading volume of 1,575,469 shares, compared to its average volume of 5,448,045. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84. The firm has a market cap of $93.64 billion, a PE ratio of 44.45, a price-to-earnings-growth ratio of 3.99 and a beta of 1.19. The business’s 50 day moving average price is $290.67 and its 200-day moving average price is $291.86.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, analysts expect that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PANW. Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 21st. Mizuho cut their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Sanford C. Bernstein initiated coverage on shares of Palo Alto Networks in a report on Thursday, January 18th. They set an “outperform” rating for the company. Scotiabank cut their price objective on shares of Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 21st. Finally, Truist Financial increased their price objective on shares of Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $314.82.

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.