Mitsubishi UFJ Trust & Banking Corp Has $75.87 Million Stake in Palo Alto Networks, Inc. $PANW

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 372,579 shares of the network technology company’s stock after buying an additional 13,519 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Palo Alto Networks were worth $75,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PANW. Darwin Wealth Management LLC bought a new position in shares of Palo Alto Networks in the second quarter worth $25,000. Whipplewood Advisors LLC grew its stake in Palo Alto Networks by 6,400.0% during the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after buying an additional 128 shares in the last quarter. Briaud Financial Planning Inc bought a new position in Palo Alto Networks in the 2nd quarter valued at about $28,000. Howard Hughes Medical Institute bought a new position in Palo Alto Networks in the 2nd quarter valued at about $29,000. Finally, MTM Investment Management LLC acquired a new position in shares of Palo Alto Networks in the 2nd quarter valued at approximately $31,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $188.18, for a total transaction of $940,900.00. Following the sale, the executive vice president directly owned 155,119 shares of the company’s stock, valued at $29,190,293.42. The trade was a 3.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 800 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total transaction of $147,848.00. Following the completion of the transaction, the chief accounting officer owned 46,005 shares of the company’s stock, valued at approximately $8,502,184.05. This trade represents a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 382,016 shares of company stock valued at $76,386,460 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PANW shares. Sanford C. Bernstein increased their price target on shares of Palo Alto Networks from $207.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Wedbush reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Thursday, November 20th. DA Davidson set a $240.00 price target on Palo Alto Networks in a research note on Friday, December 19th. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Thursday, November 20th. Finally, BTIG Research reiterated a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, December 17th. 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 stock. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $229.09.

Palo Alto Networks Stock Down 1.1%

Shares of PANW stock opened at $180.18 on Friday. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61. The stock’s fifty day simple moving average is $188.56 and its 200 day simple moving average is $195.04. The firm has a market capitalization of $125.59 billion, a P/E ratio of 114.04, a P/E/G ratio of 4.29 and a beta of 0.76.

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

About Palo Alto Networks

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.