EDENTREE ASSET MANAGEMENT Ltd Buys 5,500 Shares of Palo Alto Networks, Inc. $PANW

EDENTREE ASSET MANAGEMENT Ltd boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,060 shares of the network technology company’s stock after purchasing an additional 5,500 shares during the quarter. Palo Alto Networks comprises 3.1% of EDENTREE ASSET MANAGEMENT Ltd’s portfolio, making the stock its 10th largest position. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Palo Alto Networks were worth $11,058,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Palo Alto Networks during the 2nd quarter worth $675,865,000. Kingstone Capital Partners Texas LLC purchased a new stake in Palo Alto Networks during the second quarter valued at about $633,068,000. Price T Rowe Associates Inc. MD increased its stake in Palo Alto Networks by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,879,506 shares of the network technology company’s stock worth $662,000,000 after acquiring an additional 1,688,432 shares during the last quarter. ABN AMRO Bank N.V. purchased a new position in shares of Palo Alto Networks in the 2nd quarter worth about $340,883,000. Finally, Vanguard Group Inc. lifted its stake in shares of Palo Alto Networks by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 64,016,374 shares of the network technology company’s stock valued at $13,100,311,000 after purchasing an additional 1,240,830 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $192.96 on Thursday. Palo Alto Networks, Inc. has a 12 month low of $144.15 and a 12 month high of $223.61. The company has a fifty day moving average price of $205.36 and a two-hundred day moving average price of $197.45. The company has a market cap of $134.49 billion, a PE ratio of 122.13, a P/E/G ratio of 4.62 and a beta of 0.79.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the company earned $1.56 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PANW shares. Mizuho increased their target price on shares of Palo Alto Networks from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Evercore ISI boosted their price objective on shares of Palo Alto Networks from $220.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $240.00 target price (up previously from $236.00) on shares of Palo Alto Networks in a research note on Thursday, November 20th. BMO Capital Markets upped their price target on shares of Palo Alto Networks from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Finally, Guggenheim increased their price target on Palo Alto Networks from $130.00 to $135.00 and gave the company a “sell” rating in a report on Tuesday, August 19th. Thirty equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $225.09.

Insider Transactions at Palo Alto Networks

In related news, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $189.39, for a total value of $132,573.00. Following the transaction, the chief accounting officer owned 46,805 shares of the company’s stock, valued at $8,864,398.95. This represents a 1.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,228,330 shares of company stock valued at $251,702,305 over the last ninety days. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Profile

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.