Palo Alto Networks, Inc. $PANW Stock Holdings Increased by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,430,115 shares of the network technology company’s stock after purchasing an additional 64,814 shares during the quarter. Nordea Investment Management AB owned approximately 0.36% of Palo Alto Networks worth $498,101,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank lifted its position in Palo Alto Networks by 0.6% in the 3rd quarter. Bangor Savings Bank now owns 9,337 shares of the network technology company’s stock worth $1,901,000 after buying an additional 55 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Palo Alto Networks by 1.8% in the third quarter. Harbor Investment Advisory LLC now owns 7,141 shares of the network technology company’s stock worth $1,454,000 after acquiring an additional 127 shares during the last quarter. Janney Capital Management LLC increased its stake in shares of Palo Alto Networks by 15.9% in the third quarter. Janney Capital Management LLC now owns 48,089 shares of the network technology company’s stock worth $9,792,000 after acquiring an additional 6,612 shares during the last quarter. Lynch Asset Management Inc. raised its holdings in shares of Palo Alto Networks by 10.6% during the third quarter. Lynch Asset Management Inc. now owns 26,650 shares of the network technology company’s stock worth $5,426,000 after acquiring an additional 2,550 shares in the last quarter. Finally, St. Johns Investment Management Company LLC boosted its position in Palo Alto Networks by 10.5% during the third quarter. St. Johns Investment Management Company LLC now owns 4,680 shares of the network technology company’s stock valued at $953,000 after purchasing an additional 445 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total transaction of $940,900.00. Following the completion of the sale, the executive vice president owned 155,119 shares in the company, valued at $29,190,293.42. This represents a 3.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James J. Goetz sold 12,500 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the transaction, the director directly owned 75,184 shares in the company, valued at $14,685,690.72. This trade represents a 14.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 382,016 shares of company stock valued at $76,386,460. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

PANW opened at $188.88 on Tuesday. The firm has a market cap of $131.65 billion, a P/E ratio of 119.54, a price-to-earnings-growth ratio of 4.51 and a beta of 0.76. The business has a 50 day moving average price of $193.23 and a 200 day moving average price of $195.96. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 earnings per share. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the topic of several research reports. Citigroup reaffirmed a “buy” rating on shares of Palo Alto Networks in a research report on Monday. BTIG Research reissued a “buy” rating on shares of Palo Alto Networks in a research note on Wednesday, December 17th. Tigress Financial assumed coverage on Palo Alto Networks in a report on Friday, September 26th. They issued a “buy” rating and a $245.00 price objective on the stock. Mizuho set a $220.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, December 16th. Finally, DA Davidson set a $240.00 target price on shares of Palo Alto Networks in a research report on Friday, December 19th. Thirty-one analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.86.

Palo Alto Networks Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.