Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 645,192 shares of the network technology company’s stock after buying an additional 37,498 shares during the quarter. Palo Alto Networks comprises approximately 2.0% of Penserra Capital Management LLC’s holdings, making the stock its 5th largest position. Penserra Capital Management LLC owned approximately 0.10% of Palo Alto Networks worth $110,095,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after buying an additional 55 shares during the period. Crew Capital Management Ltd. increased its stake in shares of Palo Alto Networks by 2.5% in the 1st quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company’s stock valued at $394,000 after buying an additional 57 shares during the period. JDM Financial Group LLC increased its stake in shares of Palo Alto Networks by 22.4% in the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock valued at $59,000 after buying an additional 59 shares during the period. WealthBridge Capital Management LLC increased its stake in shares of Palo Alto Networks by 2.0% in the 1st quarter. WealthBridge Capital Management LLC now owns 3,067 shares of the network technology company’s stock valued at $523,000 after buying an additional 61 shares during the period. Finally, Penobscot Investment Management Company Inc. increased its stake in shares of Palo Alto Networks by 0.3% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 18,983 shares of the network technology company’s stock valued at $3,239,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

PANW opened at $201.50 on Friday. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The firm has a market capitalization of $134.36 billion, a PE ratio of 115.14, a PEG ratio of 5.63 and a beta of 0.97. The business’s 50-day simple moving average is $193.80 and its 200 day simple moving average is $185.42.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. Palo Alto Networks’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PANW. Sanford C. Bernstein set a $225.00 target price on Palo Alto Networks and gave the company an “outperform” rating in a research note on Wednesday, May 21st. Wells Fargo & Company lifted their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Stephens cut Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Morgan Stanley decreased their price objective on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price objective on Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating for the company in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the sale, the executive vice president owned 101,135 shares in the company, valued at $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $204.00, for a total value of $122,400.00. Following the completion of the sale, the chief accounting officer owned 41,433 shares in the company, valued at $8,452,332. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 668,722 shares of company stock worth $121,714,798 over the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.