Mitsubishi UFJ Asset Management Co. Ltd. Has $119.59 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 22.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 420,902 shares of the network technology company’s stock after purchasing an additional 78,260 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Palo Alto Networks were worth $119,591,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares in the last quarter. Webster Bank N. A. lifted its holdings in shares of Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after buying an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC lifted its holdings in shares of Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after buying an additional 47 shares in the last quarter. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of Palo Alto Networks during the first quarter worth $30,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PANW. Susquehanna raised their price target on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research report on Tuesday, May 21st. Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Oppenheimer restated an “outperform” rating and set a $330.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 21st. Evercore ISI reduced their price target on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a report on Tuesday, May 14th. Finally, Royal Bank of Canada reduced their price target on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Thirteen equities research analysts have rated the stock with 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, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.59.

Palo Alto Networks Trading Down 2.5 %

Palo Alto Networks stock traded down $8.26 during trading on Thursday, hitting $323.88. 2,457,493 shares of the company were exchanged, compared to its average volume of 4,589,053. The business’s 50 day moving average is $318.55 and its 200 day moving average is $310.46. Palo Alto Networks, Inc. has a 52 week low of $201.17 and a 52 week high of $380.84. The company has a market capitalization of $104.87 billion, a P/E ratio of 47.05, a PEG ratio of 5.18 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. Palo Alto Networks’s revenue was up 15.3% compared to the same quarter last year. Equities analysts expect that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Insider Buying and Selling

In related news, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the sale, the director now owns 3,767 shares in the company, valued at $1,167,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total value of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares in the company, valued at approximately $1,167,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total value of $10,376,640.00. Following the completion of the transaction, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 428,391 shares of company stock worth $136,147,317. 3.30% 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.