Amundi Has $556.22 Million Holdings in Palo Alto Networks, Inc. $PANW

Amundi grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,823,869 shares of the network technology company’s stock after purchasing an additional 93,932 shares during the quarter. Amundi owned approximately 0.42% of Palo Alto Networks worth $556,217,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PANW. Whipplewood Advisors LLC grew its holdings in Palo Alto Networks by 6,400.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after acquiring an additional 128 shares during the period. Briaud Financial Planning Inc acquired a new position in shares of Palo Alto Networks in the 2nd quarter valued at $28,000. MTM Investment Management LLC bought a new position in shares of Palo Alto Networks in the 2nd quarter worth $31,000. Dagco Inc. acquired a new stake in shares of Palo Alto Networks during the first quarter worth $33,000. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Palo Alto Networks during the second quarter worth $41,000. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Sanford C. Bernstein raised their target price on Palo Alto Networks from $207.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. DA Davidson lifted their price objective on shares of Palo Alto Networks from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Evercore ISI upped their target price on shares of Palo Alto Networks from $220.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, November 13th. TD Cowen increased their target price on shares of Palo Alto Networks from $230.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, New Street Research boosted their price target on shares of Palo Alto Networks from $235.00 to $240.00 and gave the company a “buy” rating in a report on Friday, September 12th. Thirty equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.09.

Insider Buying and Selling

In related news, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $204.19, for a total value of $1,020,950.00. Following the sale, the executive vice president owned 96,135 shares of the company’s stock, valued at approximately $19,629,805.65. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $217.94, for a total value of $26,321,485.56. Following the transaction, the executive vice president directly owned 356,409 shares of the company’s stock, valued at $77,675,777.46. This trade represents a 25.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,215,830 shares of company stock worth $249,260,680 over the last 90 days. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Stock Up 1.1%

NASDAQ:PANW opened at $195.68 on Friday. The company has a market cap of $136.39 billion, a P/E ratio of 123.85, a price-to-earnings-growth ratio of 4.58 and a beta of 0.79. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61. The business has a 50 day moving average price of $206.05 and a two-hundred day moving average price of $197.20.

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

About Palo Alto Networks

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.