Harel Insurance Investments & Financial Services Ltd. Has $28.82 Million Stake in Palo Alto Networks, Inc. $PANW

Harel Insurance Investments & Financial Services Ltd. decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,476 shares of the network technology company’s stock after selling 3,163 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Palo Alto Networks were worth $28,821,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Klingman & Associates LLC grew its holdings in shares of Palo Alto Networks by 2.2% during the third quarter. Klingman & Associates LLC now owns 2,131 shares of the network technology company’s stock worth $434,000 after purchasing an additional 46 shares during the last quarter. PTM Wealth Management LLC grew its holdings in shares of Palo Alto Networks by 4.0% during the third quarter. PTM Wealth Management LLC now owns 1,300 shares of the network technology company’s stock worth $276,000 after purchasing an additional 50 shares during the last quarter. Arlington Trust Co LLC grew its holdings in shares of Palo Alto Networks by 4.8% during the third quarter. Arlington Trust Co LLC now owns 1,088 shares of the network technology company’s stock worth $222,000 after purchasing an additional 50 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in shares of Palo Alto Networks by 39.7% during the third quarter. CBIZ Investment Advisory Services LLC now owns 176 shares of the network technology company’s stock worth $36,000 after purchasing an additional 50 shares during the last quarter. Finally, Harold Davidson & Associates Inc. grew its holdings in shares of Palo Alto Networks by 5.0% during the third quarter. Harold Davidson & Associates Inc. now owns 1,056 shares of the network technology company’s stock worth $215,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of several research reports. Needham & Company LLC reduced their price target on Palo Alto Networks from $230.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Cantor Fitzgerald restated an “overweight” rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. BTIG Research restated a “buy” rating and set a $200.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 18th. Daiwa Securities Group reduced their price target on Palo Alto Networks from $212.00 to $175.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Finally, The Goldman Sachs Group reduced their price target on Palo Alto Networks from $240.00 to $224.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $210.84.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,100 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total transaction of $177,540.00. Following the transaction, the chief accounting officer directly owned 83,136 shares in the company, valued at approximately $13,418,150.40. This represents a 1.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nikesh Arora bought 68,085 shares of the stock in a transaction dated Friday, March 27th. The shares were purchased at an average cost of $146.87 per share, for a total transaction of $9,999,643.95. Following the completion of the transaction, the chief executive officer directly owned 343,394 shares of the company’s stock, valued at $50,434,276.78. This trade represents a 24.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 30,356 shares of company stock worth $4,981,575. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $183.98 on Wednesday. The business’s 50 day simple moving average is $164.16 and its 200 day simple moving average is $180.84. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $223.61. The stock has a market capitalization of $150.13 billion, a PE ratio of 101.65, a PEG ratio of 6.65 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. The firm had revenue of $2.59 billion for 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%.The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 EPS. As a group, research analysts expect that Palo Alto Networks, Inc. will post 2.14 earnings per share for the current year.

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.