Oregon Public Employees Retirement Fund Buys 779 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Markets Daily

Oregon Public Employees Retirement Fund increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,863 shares of the network technology company’s stock after acquiring an additional 779 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Palo Alto Networks were worth $9,703,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Resonant Capital Advisors LLC grew its position in shares of Palo Alto Networks by 1.0% in the first quarter. Resonant Capital Advisors LLC now owns 15,776 shares of the network technology company’s stock valued at $2,692,000 after purchasing an additional 150 shares during the last quarter. Novem Group raised its position in Palo Alto Networks by 35.8% during the 1st quarter. Novem Group now owns 7,328 shares of the network technology company’s stock worth $1,250,000 after purchasing an additional 1,933 shares during the last quarter. Elmwood Wealth Management Inc. raised its position in shares of Palo Alto Networks by 34.3% in the 1st quarter. Elmwood Wealth Management Inc. now owns 3,697 shares of the network technology company’s stock worth $631,000 after acquiring an additional 945 shares in the last quarter. Mainstream Capital Management LLC raised its position in shares of Palo Alto Networks by 5.3% in the 1st quarter. Mainstream Capital Management LLC now owns 7,160 shares of the network technology company’s stock worth $1,222,000 after acquiring an additional 359 shares in the last quarter. Finally, Arlington Trust Co LLC raised its position in shares of Palo Alto Networks by 48.7% in the 1st quarter. Arlington Trust Co LLC now owns 1,642 shares of the network technology company’s stock worth $280,000 after acquiring an additional 538 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $193.36, for a total value of $19,336,000.00. Following the completion of the transaction, the executive vice president directly owned 3,343,516 shares in the company, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the sale, the executive vice president owned 101,135 shares of the company’s stock, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 568,122 shares of company stock valued at $101,726,398 over the last ninety days. 2.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of analyst reports. Truist Financial cut their price target on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Barclays cut their price target on 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. Jefferies Financial Group lifted their price target on Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Hsbc Global Res upgraded Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Finally, Roth Capital assumed coverage on Palo Alto Networks in a research note on Thursday, May 15th. They issued a “neutral” rating and a $210.00 target price on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

Get Our Latest Research Report on Palo Alto Networks

Palo Alto Networks Stock Down 0.3%

Shares of PANW stock opened at $196.97 on Thursday. The stock has a market cap of $131.34 billion, a price-to-earnings ratio of 112.55, a price-to-earnings-growth ratio of 5.52 and a beta of 0.97. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The firm’s 50 day moving average price is $192.85 and its two-hundred day moving average price is $185.45.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping 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 firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.

Featured Stories

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report).