MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases New Position in Palo Alto Networks, Inc. $PANW

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, HoldingsChannel reports. The firm acquired 796,375 shares of the network technology company’s stock, valued at approximately $162,161,000.

Other large investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in shares of Palo Alto Networks during the second quarter valued at approximately $25,000. Howard Hughes Medical Institute bought a new stake in Palo Alto Networks in the second quarter valued at $29,000. Winch Advisory Services LLC boosted its holdings in Palo Alto Networks by 96.1% in the third quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. MTM Investment Management LLC purchased a new position in Palo Alto Networks during the 2nd quarter valued at $31,000. Finally, Caitlin John LLC purchased a new position in Palo Alto Networks during the 3rd quarter valued at $31,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Up 0.3%

Shares of PANW stock opened at $167.45 on Tuesday. The company’s fifty day moving average price is $169.55 and its 200-day moving average price is $189.35. The stock has a market cap of $136.64 billion, a PE ratio of 92.51, a price-to-earnings-growth ratio of 6.03 and a beta of 0.78. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly 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. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the company posted $0.81 EPS. Palo Alto Networks’s revenue was up 14.9% on a year-over-year basis. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other 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 value of $940,900.00. Following the sale, the executive vice president directly owned 155,119 shares of the company’s stock, valued at $29,190,293.42. The trade was a 3.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 120,768 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $191.03, for a total value of $23,070,311.04. Following the completion of the sale, the executive vice president owned 298,887 shares in the company, valued at $57,096,383.61. The trade was a 28.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,252 shares of company stock worth $27,888,535 over the last three months. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PANW shares. BMO Capital Markets dropped their target price on shares of Palo Alto Networks from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Wedbush reiterated an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Needham & Company LLC decreased their price target on shares of Palo Alto Networks from $230.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Sanford C. Bernstein set a $209.00 price objective on shares of Palo Alto Networks and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Finally, Loop Capital cut their price objective on Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.