Insigneo Advisory Services LLC Has $3.10 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Insigneo Advisory Services LLC boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 112.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,023 shares of the network technology company’s stock after buying an additional 9,007 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Palo Alto Networks were worth $3,097,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after buying an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC grew its position in Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock worth $2,611,013,000 after acquiring an additional 6,725,148 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Palo Alto Networks by 83.0% during the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after purchasing an additional 2,612,474 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Palo Alto Networks by 59.3% during the 4th quarter. Legal & General Group Plc now owns 5,552,888 shares of the network technology company’s stock valued at $1,010,403,000 after purchasing an additional 2,067,838 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at $970,736,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares in the company, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the transaction, the executive vice president now owns 3,543,516 shares of the company’s stock, valued at approximately $586,132,981.56. This represents a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,039,318 shares of company stock worth $181,925,602 over the last 90 days. Insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Up 2.1 %

Shares of NASDAQ PANW opened at $173.55 on Wednesday. The company has a market cap of $114.91 billion, a price-to-earnings ratio of 97.78, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 12-month low of $135.18 and a 12-month high of $208.39. The firm’s 50-day simple moving average is $181.67 and its 200 day simple moving average is $184.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on PANW shares. Truist Financial cut their target price on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Westpark Capital restated a “hold” rating and issued a $196.40 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. Citigroup increased their price target on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. UBS Group upped their price objective on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Morgan Stanley set a $230.00 target price on shares of Palo Alto Networks in a report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.52.

About Palo Alto Networks

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.