Royal London Asset Management Ltd. Acquires 8,498 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Royal London Asset Management Ltd. raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,343 shares of the network technology company’s stock after acquiring an additional 8,498 shares during the period. Royal London Asset Management Ltd.’s holdings in Palo Alto Networks were worth $30,326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PANW. Norges Bank bought a new position in Palo Alto Networks during the fourth quarter valued at approximately $751,276,000. Geode Capital Management LLC grew its holdings in shares of Palo Alto Networks by 69.1% in the second quarter. Geode Capital Management LLC now owns 5,709,428 shares of the network technology company’s stock worth $1,455,174,000 after purchasing an additional 2,332,827 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in shares of Palo Alto Networks in the fourth quarter worth approximately $204,728,000. Northern Trust Corp grew its holdings in shares of Palo Alto Networks by 27.2% in the second quarter. Northern Trust Corp now owns 3,343,304 shares of the network technology company’s stock worth $854,248,000 after purchasing an additional 715,850 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Palo Alto Networks by 60.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,625,961 shares of the network technology company’s stock worth $415,449,000 after purchasing an additional 611,608 shares during the last quarter. 85.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the transaction, the president now owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,843 shares of company stock valued at $29,088,185. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PANW. Sanford C. Bernstein began coverage on shares of Palo Alto Networks in a report on Thursday, January 18th. They issued an “outperform” rating on the stock. BMO Capital Markets cut their price target on shares of Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. The Goldman Sachs Group lifted their price target on shares of Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Cantor Fitzgerald cut their price target on shares of Palo Alto Networks from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Finally, Citigroup lifted their price target on shares of Palo Alto Networks from $280.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Eleven equities research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $313.89.

Read Our Latest Analysis on PANW

Palo Alto Networks Stock Performance

Shares of PANW opened at $286.49 on Friday. The stock has a 50 day moving average price of $325.15 and a 200 day moving average price of $281.32. The stock has a market capitalization of $92.56 billion, a price-to-earnings ratio of 44.76, a PEG ratio of 3.79 and a beta of 1.21. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84.

About Palo Alto Networks

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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