Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,510 shares of the network technology company’s stock after purchasing an additional 424 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Palo Alto Networks were worth $2,215,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Investment Advisors LLC grew its position in shares of Palo Alto Networks by 13.7% in the third quarter. Capital Investment Advisors LLC now owns 1,635 shares of the network technology company’s stock valued at $383,000 after purchasing an additional 197 shares during the period. Impact Partnership Wealth LLC grew its position in Palo Alto Networks by 18,500.0% during the third quarter. Impact Partnership Wealth LLC now owns 186 shares of the network technology company’s stock valued at $44,000 after acquiring an additional 185 shares during the period. Exchange Traded Concepts LLC grew its position in Palo Alto Networks by 62.4% during the third quarter. Exchange Traded Concepts LLC now owns 7,230 shares of the network technology company’s stock valued at $1,695,000 after acquiring an additional 2,779 shares during the period. Caprock Group LLC grew its position in Palo Alto Networks by 59.2% during the third quarter. Caprock Group LLC now owns 3,469 shares of the network technology company’s stock valued at $813,000 after acquiring an additional 1,290 shares during the period. Finally, Koshinski Asset Management Inc. grew its position in Palo Alto Networks by 1.5% during the third quarter. Koshinski Asset Management Inc. now owns 4,100 shares of the network technology company’s stock valued at $961,000 after acquiring an additional 61 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Truist Financial boosted their price target on Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Evercore ISI boosted their price objective on Palo Alto Networks from $315.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Barclays reduced their price objective on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Redburn Atlantic boosted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, The Goldman Sachs Group boosted their price objective on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $314.82.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction dated 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 in the company, valued at $7,230,715.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction dated 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 owns 198,105 shares in the company, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. Insiders have sold 167,917 shares of company stock valued at $49,395,553 over the last three months. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW traded down $3.99 during midday trading on Thursday, reaching $289.83. The stock had a trading volume of 1,575,469 shares, compared to its average volume of 5,448,045. Palo Alto Networks, Inc. has a 52 week low of $176.30 and a 52 week high of $380.84. The firm’s 50 day moving average price is $290.67 and its 200-day moving average price is $291.86. The company has a market capitalization of $93.64 billion, a P/E ratio of 44.45, a P/E/G ratio of 3.99 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

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.