Clal Insurance Enterprises Holdings Ltd Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 305,000 shares of the network technology company’s stock, valued at approximately $52,045,000.

A number of other hedge funds also recently made changes to their positions in the company. Csenge Advisory Group raised its stake in shares of Palo Alto Networks by 2.4% during the first quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company’s stock valued at $381,000 after purchasing an additional 53 shares during the period. Strategic Investment Solutions Inc. IL raised its stake in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 55 shares during the period. SYM FINANCIAL Corp raised its stake in shares of Palo Alto Networks by 1.4% during the first quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company’s stock valued at $691,000 after purchasing 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 first quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company’s stock worth $394,000 after buying an additional 57 shares during the last quarter. Finally, JDM Financial Group LLC increased its stake in shares of Palo Alto Networks by 22.4% in the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock worth $59,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $172.80, for a total value of $17,280,000.00. Following the completion of the sale, the executive vice president directly owned 3,143,516 shares of the company’s stock, valued at approximately $543,199,564.80. This represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $171.58, for a total transaction of $20,722,402.92. Following the completion of the sale, the executive vice president directly owned 206,718 shares of the company’s stock, valued at $35,468,674.44. The trade was a 36.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 669,248 shares of company stock worth $126,423,337 in the last ninety days. Insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Up 0.7%

PANW stock opened at $168.17 on Tuesday. The company has a market capitalization of $112.14 billion, a P/E ratio of 96.10, a PEG ratio of 3.96 and a beta of 0.94. The company has a 50-day simple moving average of $193.70 and a 200 day simple moving average of $186.78. Palo Alto Networks, Inc. has a fifty-two week low of $144.15 and a fifty-two week high of $210.39.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the company earned $0.66 EPS. Palo Alto Networks’s revenue was up 15.3% on a year-over-year basis. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PANW. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the stock an “outperform” rating in a research note on Wednesday, May 21st. Barclays dropped their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company lifted their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price target on shares of 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. Finally, DA Davidson dropped their price target on shares of Palo Alto Networks from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $217.07.

View Our Latest Stock Report on Palo Alto Networks

About Palo Alto Networks

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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