Amalgamated Bank Acquires 3,085 Shares of Palo Alto Networks, Inc. $PANW

Amalgamated Bank grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,259 shares of the network technology company’s stock after buying an additional 3,085 shares during the quarter. Amalgamated Bank’s holdings in Palo Alto Networks were worth $30,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Palo Alto Networks in the 2nd quarter valued at $675,865,000. ABN AMRO Bank N.V. acquired a new stake in Palo Alto Networks during the 2nd quarter worth approximately $340,883,000. Vanguard Group Inc. boosted its stake in shares of Palo Alto Networks by 2.0% in the second quarter. Vanguard Group Inc. now owns 64,016,374 shares of the network technology company’s stock valued at $13,100,311,000 after buying an additional 1,240,830 shares during the period. California Public Employees Retirement System raised its position in Palo Alto Networks by 97.9% during the second quarter. California Public Employees Retirement System now owns 2,104,939 shares of the network technology company’s stock valued at $430,755,000 after purchasing an additional 1,041,145 shares in the last quarter. Finally, Swedbank AB lifted its stake in Palo Alto Networks by 30.6% in the 3rd quarter. Swedbank AB now owns 2,392,224 shares of the network technology company’s stock valued at $487,105,000 after purchasing an additional 560,540 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director James J. Goetz sold 12,500 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the sale, the director directly owned 75,184 shares in the company, valued at $14,685,690.72. This represents a 14.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Josh D. Paul sold 800 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $184.81, for a total transaction of $147,848.00. Following the sale, the chief accounting officer owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 382,016 shares of company stock worth $76,386,460. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $187.66 on Friday. The company’s 50-day simple moving average is $191.35 and its two-hundred day simple moving average is $195.67. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $223.61. The company has a market capitalization of $130.80 billion, a price-to-earnings ratio of 118.77, a price-to-earnings-growth ratio of 4.47 and a beta of 0.76.

Palo Alto Networks (NASDAQ:PANW) last announced 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 return on equity of 17.05% and a net margin of 11.69%.The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business posted $1.56 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PANW. Barclays upped their price target on Palo Alto Networks from $215.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. UBS Group set a $215.00 price target on Palo Alto Networks and gave the stock a “neutral” rating in a research note on Tuesday. Bank of America raised their price target on shares of Palo Alto Networks from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Sanford C. Bernstein lifted their target price on shares of Palo Alto Networks from $207.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Finally, Citigroup reaffirmed a “buy” rating on shares of Palo Alto Networks in a research note on Monday, January 12th. Thirty-one research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $229.09.

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.