Swiss Life Asset Management Ltd Buys 22,024 Shares of Palo Alto Networks, Inc. $PANW

Swiss Life Asset Management Ltd raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.7% during the 4th quarter, Holdings Channel reports. The fund owned 250,135 shares of the network technology company’s stock after purchasing an additional 22,024 shares during the period. Swiss Life Asset Management Ltd’s holdings in Palo Alto Networks were worth $46,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Darwin Wealth Management LLC bought a new stake in Palo Alto Networks during the 2nd quarter valued at $25,000. Steph & Co. boosted its position in Palo Alto Networks by 88.2% during the 4th quarter. Steph & Co. now owns 143 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 67 shares in the last quarter. Luken Investment Analytics LLC boosted its position in Palo Alto Networks by 196.2% during the 4th quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 102 shares in the last quarter. Winch Advisory Services LLC boosted its position in Palo Alto Networks by 96.1% during the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. Finally, Caitlin John LLC bought a new stake in Palo Alto Networks during the 3rd quarter valued at $31,000. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $223.00 target price (down from $245.00) on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Scotiabank reissued an “outperform” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Berenberg Bank set a $215.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Robert W. Baird set a $220.00 price objective on Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.64.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,100 shares of Palo Alto Networks stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total transaction of $177,540.00. Following the completion of the sale, the chief accounting officer owned 83,136 shares of the company’s stock, valued at approximately $13,418,150.40. The trade was a 1.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora purchased 68,085 shares of the stock in a transaction on Friday, March 27th. The shares were purchased at an average cost of $146.87 per share, with a total value of $9,999,643.95. Following the transaction, the chief executive officer owned 343,394 shares in the company, valued at $50,434,276.78. This trade represents a 24.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 30,356 shares of company stock worth $4,981,575 in the last quarter. 1.40% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $207.88 on Monday. The stock has a market capitalization of $169.63 billion, a price-to-earnings ratio of 114.85, a PEG ratio of 7.49 and a beta of 0.77. Palo Alto Networks, Inc. has a 1-year low of $139.57 and a 1-year high of $223.61. The business has a fifty day moving average price of $166.05 and a 200-day moving average price of $180.61.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 EPS. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.14 earnings per share 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.