New York Life Investment Management LLC has $16.46M position in Palo Alto Networks, Inc. (NASDAQ:PANW)

VaselineSeptember 8, 2024

0 4 minutes read

New York Life Investment Management LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 1.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 48,544 shares of the network technology company’s stock after acquiring an additional 849 shares during the period. New York Life Investment Management LLC’s holdings in Palo Alto Networks were worth $16,457,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PANW. Norges Bank acquired a new position in Palo Alto Networks during the fourth quarter valued at approximately $1,563,020,000. Vanguard Group Inc. raised its holdings in shares of Palo Alto Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after purchasing an additional 1,058,127 shares during the period. Axiom Investors LLC DE increased its position in shares of Palo Alto Networks by 359.3% during the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after buying another 749,199 shares in the last quarter. Swedbank AB acquired a new stake in Palo Alto Networks in the first quarter worth $177,933,000. Finally, 1832 Asset Management LP boosted its holdings in Palo Alto Networks by 63.8% during the fourth quarter. 1832 Asset Management LP now owns 640,755 shares of the network technology company’s stock worth $188,946,000 after acquiring an additional 249,455 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s shares.

Insider trading at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at $47,055,533.37. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the completion of the transaction, the director now owns 12,639 shares in the company, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 466,238 shares of company stock worth $154,690,169. 3.30% of shares are currently owned by company insiders.

Palo Alto Networks trading down 2.3%

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NASDAQ:PANW opened at $335.82 on Friday. The stock has a 50-day simple moving average of $335.82 and a 200-day simple moving average of $310.09. The stock has a market cap of $108.74 billion, a P/E ratio of 48.81, a PEG ratio of 5.29 and a beta of 1.13. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW – Get Your Free Report ) last announced its earnings results on Monday, August 19th. The networking technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. In the same quarter last year, the business posted earnings of $0.80 per share. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts estimate that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Changes in Analyst Ratings

Several equities research analysts have issued reports on PANW shares. Oppenheimer upped their target price on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Susquehanna boosted their target price on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday. Needham & Company LLC boosted their target price on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. BMO Capital Markets boosted their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday. August 20. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $366.08.

Read the latest stock analysis on Palo Alto Networks

Palo Alto Networks Company Profile

(Free report)

Palo Alto Networks, Inc. provides cybersecurity solutions worldwide. The company provides firewall devices and software; and Panorama, a security management solution for global control of the network security platform as a virtual or physical appliance. It also offers subscription services covering the areas of threat prevention, malware and persistent threats, URL filtering, laptop and mobile protection, DNS security, Internet of Things security, API SaaS security and inline SaaS security, as well as threat intelligence and data loss prevention.