Migdal Insurance & Financial Holdings Ltd. Has $27.13 Million Stock Holdings in Palo Alto Networks, Inc. $PANW

Migdal Insurance & Financial Holdings Ltd. decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 35.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 133,225 shares of the network technology company’s stock after selling 71,828 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Palo Alto Networks were worth $27,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Waldron Private Wealth LLC increased its position in Palo Alto Networks by 0.9% during the third quarter. Waldron Private Wealth LLC now owns 34,399 shares of the network technology company’s stock worth $7,004,000 after buying an additional 300 shares during the last quarter. Canopy Partners LLC lifted its position in shares of Palo Alto Networks by 7.9% in the third quarter. Canopy Partners LLC now owns 2,367 shares of the network technology company’s stock worth $482,000 after buying an additional 173 shares during the last quarter. Boomfish Wealth Group LLC boosted its stake in shares of Palo Alto Networks by 4.1% during the 3rd quarter. Boomfish Wealth Group LLC now owns 16,688 shares of the network technology company’s stock worth $3,398,000 after acquiring an additional 660 shares in the last quarter. Sugar Maple Asset Management LLC increased its holdings in shares of Palo Alto Networks by 12.0% during the 3rd quarter. Sugar Maple Asset Management LLC now owns 6,489 shares of the network technology company’s stock valued at $1,321,000 after acquiring an additional 697 shares during the last quarter. Finally, McAdam LLC raised its stake in shares of Palo Alto Networks by 93.3% in the 3rd quarter. McAdam LLC now owns 2,530 shares of the network technology company’s stock valued at $515,000 after acquiring an additional 1,221 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 1.9%

Shares of Palo Alto Networks stock opened at $184.06 on Wednesday. The company has a market cap of $128.29 billion, a price-to-earnings ratio of 116.49, a PEG ratio of 4.47 and a beta of 0.76. Palo Alto Networks, Inc. has a 1 year low of $144.15 and a 1 year high of $223.61. The company’s fifty day simple moving average is $190.09 and its 200-day simple moving average is $195.44.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 target price on shares of Palo Alto Networks in a research report on Thursday, November 20th. Mizuho set a $220.00 price target on shares of Palo Alto Networks in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Palo Alto Networks in a report on Monday, December 29th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Thursday, November 20th. Finally, Stephens boosted their target price on shares of Palo Alto Networks from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 20th. Thirty-one investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.09.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total value of $940,900.00. Following the completion of the sale, the executive vice president owned 155,119 shares in the company, valued at approximately $29,190,293.42. This trade represents a 3.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James J. Goetz sold 12,500 shares of Palo Alto Networks stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $195.33, for a total value of $2,441,625.00. Following the sale, the director directly owned 75,184 shares in the company, valued at $14,685,690.72. The trade was a 14.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 382,016 shares of company stock worth $76,386,460. 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.