Swiss National Bank Has $284.56 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Swiss National Bank trimmed its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 965,000 shares of the network technology company’s stock after selling 18,900 shares during the quarter. Swiss National Bank’s holdings in Palo Alto Networks were worth $284,559,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in shares of Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after acquiring an additional 2,050,917 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Palo Alto Networks by 83.1% during the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after purchasing an additional 1,187,915 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Palo Alto Networks by 6,453.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock worth $102,670,000 after purchasing an additional 431,228 shares during the last quarter. Railway Pension Investments Ltd increased its stake in shares of Palo Alto Networks by 463.5% in the third quarter. Railway Pension Investments Ltd now owns 493,053 shares of the network technology company’s stock valued at $115,591,000 after buying an additional 405,553 shares during the period. Finally, Mirova US LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth approximately $106,638,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Trading Up 0.3 %

Shares of PANW stock traded up $0.89 during trading on Friday, reaching $296.21. 3,436,945 shares of the company’s stock traded hands, compared to its average volume of 5,292,921. Palo Alto Networks, Inc. has a 1 year low of $177.09 and a 1 year high of $380.84. The company has a market capitalization of $95.71 billion, a P/E ratio of 46.28, a PEG ratio of 3.91 and a beta of 1.18. The firm’s 50-day moving average is $285.70 and its 200 day moving average is $293.01.

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 firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. Insiders have sold a total of 158,917 shares of company stock worth $44,335,843 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

PANW has been the subject of several analyst reports. Oppenheimer raised their target price on Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. KeyCorp decreased their target price on shares of Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Loop Capital lowered shares of 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. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a report on Monday, January 29th. Finally, Redburn Atlantic boosted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Eleven analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks 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.