Palo Alto Networks, Inc. $PANW Shares Bought by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan raised its position in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 15.9% during the 4th quarter, Holdings Channel reports. The firm owned 17,870 shares of the network technology company’s stock after acquiring an additional 2,450 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Palo Alto Networks were worth $3,292,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new stake in Palo Alto Networks in the second quarter valued at $25,000. Knuff & Co LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter valued at $26,000. Steph & Co. lifted its position in shares of Palo Alto Networks by 88.2% in the fourth quarter. Steph & Co. now owns 143 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 67 shares in the last quarter. Winch Advisory Services LLC lifted its position in shares of Palo Alto Networks by 96.1% in the third quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. Finally, WHI TRUST Co LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $160.42, for a total value of $802,100.00. Following the completion of the sale, the executive vice president owned 150,250 shares in the company, valued at approximately $24,103,105. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Key sold 1,572 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total value of $272,459.04. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $3,466,400. This trade represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 30,356 shares of company stock valued at $4,981,575. Company insiders own 1.40% of the company’s stock.

Key Headlines Impacting Palo Alto Networks

Here are the key news stories impacting Palo Alto Networks this week:

Palo Alto Networks Stock Performance

PANW stock opened at $242.83 on Monday. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $245.80. The firm has a market cap of $198.15 billion, a P/E ratio of 134.16, a price-to-earnings-growth ratio of 8.75 and a beta of 0.77. The stock has a 50-day simple moving average of $174.81 and a 200-day simple moving average of $180.99.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

PANW has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Robert W. Baird upped their price objective on Palo Alto Networks from $220.00 to $265.00 and gave the company an “outperform” rating in a research report on Thursday. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 18th. DA Davidson set a $190.00 target price on Palo Alto Networks and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, Daiwa Securities Group reduced their target price on Palo Alto Networks from $212.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $214.98.

View Our Latest Analysis on PANW

Palo Alto Networks Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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