Baader Bank Aktiengesellschaft Sells 3,094 Shares of Palo Alto Networks, Inc. $PANW

Baader Bank Aktiengesellschaft lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 24.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,456 shares of the network technology company’s stock after selling 3,094 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Palo Alto Networks were worth $1,742,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PANW. Vanguard Group Inc. raised its position in shares of Palo Alto Networks by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 67,929,063 shares of the network technology company’s stock valued at $12,512,533,000 after acquiring an additional 2,659,100 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Palo Alto Networks by 108.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,467,692 shares of the network technology company’s stock valued at $502,263,000 after acquiring an additional 1,282,738 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Palo Alto Networks during the 3rd quarter valued at $162,161,000. Danske Bank A S bought a new stake in shares of Palo Alto Networks during the 3rd quarter valued at $151,682,000. Finally, Amundi raised its position in shares of Palo Alto Networks by 25.1% during the 3rd quarter. Amundi now owns 3,532,201 shares of the network technology company’s stock valued at $750,875,000 after acquiring an additional 708,332 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $227.79 on Thursday. The firm has a 50-day moving average of $171.48 and a 200-day moving average of $180.69. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $228.85. The company has a market cap of $185.88 billion, a price-to-earnings ratio of 125.85, a P/E/G ratio of 7.77 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.58 billion. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.14 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Robert W. Baird set a $220.00 target price on shares of Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Citigroup reissued a “buy” rating and issued a $210.00 price target (down from $235.00) on shares of Palo Alto Networks in a report on Thursday, February 19th. New Street Research decreased their price target on shares of Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Guggenheim reissued a “neutral” rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Finally, UBS Group set a $183.00 target price on shares of Palo Alto Networks in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.09.

Insider Buying and Selling

In other news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $160.42, for a total value of $802,100.00. Following the sale, the executive vice president directly owned 150,250 shares of the company’s stock, valued at approximately $24,103,105. This represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James J. Goetz sold 22,684 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the sale, the director owned 52,500 shares of the company’s stock, valued at $8,631,525. This trade represents a 30.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,356 shares of company stock worth $4,981,575 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

About Palo Alto Networks

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.