Cromwell Holdings LLC Increases Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cromwell Holdings LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,088 shares of the network technology company’s stock after purchasing an additional 1,044 shares during the quarter. Cromwell Holdings LLC’s holdings in Palo Alto Networks were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PANW. International Assets Investment Management LLC lifted its position in shares of Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after buying an additional 3,249,594 shares in the last quarter. Jennison Associates LLC increased its holdings in Palo Alto Networks by 83.0% in the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after acquiring an additional 2,612,474 shares in the last quarter. Nordea Investment Management AB raised its position in Palo Alto Networks by 199.1% during the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock worth $333,925,000 after acquiring an additional 1,213,073 shares during the period. Swedbank AB lifted its holdings in Palo Alto Networks by 107.8% during the fourth quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock valued at $297,450,000 after purchasing an additional 848,127 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Palo Alto Networks by 104.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,722 shares of the network technology company’s stock valued at $284,353,000 after purchasing an additional 796,964 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $198.81 on Friday. The stock has a market capitalization of $131.63 billion, a P/E ratio of 112.01, a PEG ratio of 5.82 and a beta of 1.14. Palo Alto Networks, Inc. has a fifty-two week low of $130.04 and a fifty-two week high of $208.39. The company has a 50 day moving average price of $187.23 and a 200 day moving average price of $182.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PANW shares. TD Cowen upped their price target on shares of Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Evercore ISI cut their price objective on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a research note on Tuesday, December 31st. Robert W. Baird raised their target price on Palo Alto Networks from $212.50 to $217.50 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Stifel Nicolaus boosted their price target on Palo Alto Networks from $192.50 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. increased their price objective on Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a research note on Monday, November 18th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.70.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 336,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the transaction, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at $705,730,831.62. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,458,864 shares of company stock valued at $269,397,331 in the last three months. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Company 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.