Palo Alto Networks, Inc. $PANW Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 23.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 657,413 shares of the network technology company’s stock after selling 196,640 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.10% of Palo Alto Networks worth $133,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC lifted its holdings in Palo Alto Networks by 29.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 32,155 shares of the network technology company’s stock worth $6,547,000 after buying an additional 7,301 shares in the last quarter. Strive Asset Management LLC grew its stake in shares of Palo Alto Networks by 16.6% in the first quarter. Strive Asset Management LLC now owns 2,099 shares of the network technology company’s stock worth $358,000 after acquiring an additional 299 shares in the last quarter. Silver Oak Securities Incorporated increased its position in shares of Palo Alto Networks by 240.1% during the third quarter. Silver Oak Securities Incorporated now owns 11,732 shares of the network technology company’s stock worth $2,389,000 after acquiring an additional 8,282 shares during the period. Schroder Investment Management Group increased its position in shares of Palo Alto Networks by 7.9% during the second quarter. Schroder Investment Management Group now owns 2,234,551 shares of the network technology company’s stock worth $457,279,000 after acquiring an additional 163,718 shares during the period. Finally, Richmond Investment Services LLC raised its stake in shares of Palo Alto Networks by 87.2% in the second quarter. Richmond Investment Services LLC now owns 3,286 shares of the network technology company’s stock valued at $672,000 after acquiring an additional 1,531 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. BTIG Research reissued a “buy” rating on shares of Palo Alto Networks in a research note on Wednesday, December 17th. Bank of America lifted their price objective on Palo Alto Networks from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, October 20th. DA Davidson set a $240.00 price objective on Palo Alto Networks in a research report on Friday, December 19th. Barclays raised their target price on shares of Palo Alto Networks from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Finally, Evercore ISI lifted their price target 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. Thirty-one investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $227.06.

Palo Alto Networks Trading Up 1.5%

PANW stock opened at $182.12 on Tuesday. The stock has a market cap of $126.94 billion, a P/E ratio of 115.27, a PEG ratio of 4.28 and a beta of 0.76. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61. The company’s 50 day moving average is $196.19 and its two-hundred day moving average is $196.40.

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

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $189.39, for a total value of $132,573.00. Following the completion of the sale, the chief accounting officer owned 46,805 shares in the company, valued at approximately $8,864,398.95. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $2,441,625.00. Following the completion of the sale, the director directly owned 75,184 shares of the company’s stock, valued at $14,685,690.72. The trade was a 14.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 260,448 shares of company stock valued at $53,168,301 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Company 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.