Palo Alto Networks, Inc. $PANW Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 21.4% in the 4th quarter, Holdings Channel reports. The fund owned 814,897 shares of the network technology company’s stock after acquiring an additional 143,571 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Palo Alto Networks were worth $150,104,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PANW. Krilogy Financial LLC increased its stake in shares of Palo Alto Networks by 2.6% during the fourth quarter. Krilogy Financial LLC now owns 6,831 shares of the network technology company’s stock worth $1,258,000 after acquiring an additional 173 shares during the period. Lodestar Private Asset Management LLC lifted its position in Palo Alto Networks by 6.9% in the fourth quarter. Lodestar Private Asset Management LLC now owns 2,723 shares of the network technology company’s stock valued at $502,000 after purchasing an additional 175 shares during the period. Earned Wealth Advisors LLC lifted its position in Palo Alto Networks by 66.2% in the fourth quarter. Earned Wealth Advisors LLC now owns 3,338 shares of the network technology company’s stock valued at $615,000 after purchasing an additional 1,330 shares during the period. TFR Capital LLC. boosted its holdings in Palo Alto Networks by 1.7% in the 4th quarter. TFR Capital LLC. now owns 11,973 shares of the network technology company’s stock valued at $2,205,000 after purchasing an additional 204 shares in the last quarter. Finally, Elevated Capital Advisors LLC increased its position in Palo Alto Networks by 39.7% during the 4th quarter. Elevated Capital Advisors LLC now owns 3,341 shares of the network technology company’s stock worth $615,000 after purchasing an additional 950 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 1,100 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $161.40, for a total value of $177,540.00. Following the sale, the chief accounting officer directly owned 83,136 shares in the company, valued at $13,418,150.40. The trade was a 1.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James J. Goetz sold 22,684 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the completion of the sale, the director directly owned 52,500 shares in the company, valued at approximately $8,631,525. The trade was a 30.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 30,356 shares of company stock worth $4,981,575. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Price Performance

PANW opened at $167.85 on Monday. Palo Alto Networks, Inc. has a 1-year low of $139.57 and a 1-year high of $223.61. The stock has a market cap of $136.97 billion, a P/E ratio of 92.73, a P/E/G ratio of 6.05 and a beta of 0.77. The stock’s 50 day simple moving average is $160.62 and its 200 day simple moving average is $183.11.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.09. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.Palo Alto Networks’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

PANW has been the subject of a number of analyst reports. Arete Research raised Palo Alto Networks from a “sell” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Tuesday, March 3rd. Wedbush restated an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 18th. New Street Research dropped their price objective on Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Piper Sandler reiterated an “overweight” rating and issued a $265.00 price objective (up from $230.00) on shares of Palo Alto Networks in a research report on Monday, January 5th. Finally, UBS Group set a $183.00 target price on shares of Palo Alto Networks in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $209.95.

View Our Latest Report on PANW

Palo Alto Networks 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.

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