Aigen Investment Management LP Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Aigen Investment Management LP acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,333 shares of the network technology company’s stock, valued at approximately $797,000.

A number of other large investors have also made changes to their positions in the stock. Mainstream Capital Management LLC acquired a new stake in shares of Palo Alto Networks during the 3rd quarter worth about $1,156,000. Alpha Cubed Investments LLC lifted its stake in shares of Palo Alto Networks by 16.4% during the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after purchasing an additional 32,626 shares during the period. Handelsbanken Fonder AB grew its position in shares of Palo Alto Networks by 3.8% in the third quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock valued at $67,232,000 after purchasing an additional 7,291 shares during the period. Harvest Portfolios Group Inc. purchased a new stake in shares of Palo Alto Networks in the third quarter valued at $24,414,000. Finally, Parsons Capital Management Inc. RI increased its stake in Palo Alto Networks by 4.5% in the second quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock valued at $914,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 0.0 %

Shares of PANW stock opened at $398.02 on Wednesday. The business has a 50 day moving average of $355.84 and a two-hundred day moving average of $333.78. The company has a market cap of $129.60 billion, a P/E ratio of 54.90, a PEG ratio of 5.77 and a beta of 1.12. Palo Alto Networks, Inc. has a 52 week low of $234.15 and a 52 week high of $400.69.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. Analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PANW. BNP Paribas began coverage on Palo Alto Networks in a report on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price target for the company. Needham & Company LLC upped their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Truist Financial lifted their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. TD Cowen increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, OTR Global reissued a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $378.87.

Insider Activity at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the sale, the director now owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Palo Alto Networks news, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the sale, the chief executive officer now directly owns 639,994 shares in the company, valued at approximately $219,505,142.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,252 shares of company stock worth $89,383,077 in the last ninety days. 2.50% of the stock is owned by insiders.

About Palo Alto Networks

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.