Palo Alto Networks, Inc. $PANW Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 470.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,700 shares of the network technology company’s stock after acquiring an additional 4,700 shares during the period. Intact Investment Management Inc.’s holdings in Palo Alto Networks were worth $1,050,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PANW. Vanguard Group Inc. boosted its position in Palo Alto Networks by 4.1% in 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 buying an additional 2,659,100 shares during the period. Victory Capital Management Inc. boosted its position in Palo Alto Networks by 108.3% in 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 buying an additional 1,282,738 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Palo Alto Networks in the 3rd quarter valued at about $162,161,000. Danske Bank A S acquired a new stake in Palo Alto Networks in the 3rd quarter valued at about $151,682,000. Finally, Amundi raised its position in Palo Alto Networks by 25.1% in the 3rd quarter. Amundi now owns 3,532,201 shares of the network technology company’s stock valued at $750,875,000 after purchasing an additional 708,332 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $184.56 on Tuesday. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $223.61. The company has a market capitalization of $150.60 billion, a P/E ratio of 101.97, a PEG ratio of 6.53 and a beta of 0.77. The company’s fifty day moving average is $163.46 and its two-hundred day moving average is $181.00.

Palo Alto Networks (NASDAQ:PANW) 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. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the firm posted $0.81 EPS. Palo Alto Networks’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PANW. BTIG Research restated a “buy” rating and set a $200.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 18th. Guggenheim restated a “neutral” rating on shares of Palo Alto Networks 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. Finally, DA Davidson set a $190.00 price objective on shares of Palo Alto Networks and gave the company a “buy” rating in a report on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.07.

Insider Activity

In related news, Director John P. Key sold 1,572 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total transaction of $272,459.04. Following the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $3,466,400. The trade was a 7.29% 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, Director James J. Goetz sold 22,684 shares of Palo Alto Networks stock in a transaction dated 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 transaction, the director owned 52,500 shares of the company’s stock, valued at approximately $8,631,525. The trade was a 30.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,356 shares of company stock valued at $4,981,575 in the last quarter. Insiders own 1.40% of the company’s stock.

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.