Palo Alto Networks, Inc. $PANW Holdings Boosted by Glenmede Investment Management LP

Glenmede Investment Management LP raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 209,092 shares of the network technology company’s stock after acquiring an additional 9,940 shares during the period. Glenmede Investment Management LP’s holdings in Palo Alto Networks were worth $42,575,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PANW. Vanguard Group Inc. lifted its holdings in shares of Palo Alto Networks by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 65,269,963 shares of the network technology company’s stock worth $13,290,270,000 after purchasing an additional 1,253,589 shares during the last quarter. First Trust Advisors LP grew its stake in Palo Alto Networks by 11.5% during the 3rd quarter. First Trust Advisors LP now owns 5,906,963 shares of the network technology company’s stock worth $1,202,776,000 after buying an additional 611,375 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Palo Alto Networks by 1.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,476,638 shares of the network technology company’s stock worth $916,099,000 after buying an additional 54,601 shares during the last quarter. Franklin Resources Inc. increased its position in Palo Alto Networks by 0.4% in the third quarter. Franklin Resources Inc. now owns 4,037,320 shares of the network technology company’s stock worth $822,079,000 after buying an additional 17,394 shares during the period. Finally, Norges Bank acquired a new stake in Palo Alto Networks in the second quarter worth $675,865,000. 79.82% of the stock is owned by institutional investors.

Insider Activity at Palo Alto Networks

In related news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total transaction of $940,900.00. Following the sale, the executive vice president owned 155,119 shares of the company’s stock, valued at $29,190,293.42. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 800 shares of the company’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 value of $147,848.00. Following the completion of the sale, the chief accounting officer owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This trade represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 149,252 shares of company stock valued at $27,888,535. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Stock Down 0.7%

Shares of NASDAQ PANW opened at $167.01 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $223.61. The firm’s 50-day simple moving average is $169.84 and its 200 day simple moving average is $189.47. The stock has a market cap of $136.28 billion, a P/E ratio of 92.27, a P/E/G ratio of 6.07 and a beta of 0.78.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.58 billion. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. Palo Alto Networks’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PANW shares. JPMorgan Chase & Co. reduced their price target on shares of Palo Alto Networks from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Susquehanna dropped their price objective on shares of Palo Alto Networks from $230.00 to $200.00 and set a “positive” rating on the stock in a report on Wednesday, February 18th. Sanford C. Bernstein set a $209.00 price objective on shares of Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Guggenheim reissued a “neutral” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Finally, Stifel Nicolaus decreased their target price on shares of Palo Alto Networks from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.19.

Palo Alto Networks Profile

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.