National Bank of Canada FI Has $81.55 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

National Bank of Canada FI raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 239,366 shares of the network technology company’s stock after acquiring an additional 26,324 shares during the period. National Bank of Canada FI’s holdings in Palo Alto Networks were worth $81,552,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in PANW. Norges Bank acquired a new stake in shares of Palo Alto Networks in the fourth quarter worth $1,563,020,000. Vanguard Group Inc. grew its position in Palo Alto Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after purchasing an additional 1,058,127 shares during the last quarter. Axiom Investors LLC DE increased its holdings in shares of Palo Alto Networks by 359.3% during the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock worth $282,406,000 after purchasing an additional 749,199 shares during the period. Swedbank AB acquired a new position in shares of Palo Alto Networks during the first quarter valued at about $177,933,000. Finally, 1832 Asset Management L.P. lifted its stake in shares of Palo Alto Networks by 63.8% in the fourth quarter. 1832 Asset Management L.P. now owns 640,755 shares of the network technology company’s stock valued at $188,946,000 after buying an additional 249,455 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Down 0.7 %

PANW stock opened at $343.74 on Friday. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84. The company has a market cap of $111.30 billion, a P/E ratio of 49.96, a PEG ratio of 5.29 and a beta of 1.13. The business has a fifty day moving average of $335.88 and a 200-day moving average of $310.69.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Nikesh Arora sold 66,668 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $336.54, for a total transaction of $22,436,448.72. Following the completion of the transaction, the chief executive officer now owns 694,228 shares in the company, valued at $233,635,491.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. Insiders have sold 339,572 shares of company stock worth $111,126,265 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PANW. BTIG Research boosted their price target on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Needham & Company LLC boosted their price objective on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. DA Davidson raised their target price on Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Piper Sandler boosted their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, KeyCorp raised their price objective on shares of Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $366.08.

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.