Lombard Odier Asset Management Europe Ltd Takes $2.41 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,121 shares of the network technology company’s stock, valued at approximately $2,414,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PANW. Cascade Investment Group Inc. lifted its position in Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after buying an additional 31 shares in the last quarter. Sheets Smith Wealth Management boosted its position in Palo Alto Networks by 2.4% during the first quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock valued at $420,000 after purchasing an additional 34 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its stake in Palo Alto Networks by 41.2% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the network technology company’s stock valued at $35,000 after purchasing an additional 35 shares in the last quarter. First County Bank CT increased its position in shares of Palo Alto Networks by 1.0% during the 4th quarter. First County Bank CT now owns 3,537 shares of the network technology company’s stock worth $1,043,000 after purchasing an additional 35 shares during the last quarter. Finally, Western Financial Corp CA raised its stake in shares of Palo Alto Networks by 1.3% during the 2nd quarter. Western Financial Corp CA now owns 2,704 shares of the network technology company’s stock worth $917,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $55,791,570. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 125,866 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock valued at $154,029,567 in the last 90 days. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 1.2 %

Palo Alto Networks stock opened at $344.17 on Tuesday. The stock has a market cap of $111.44 billion, a PE ratio of 50.02, a P/E/G ratio of 5.04 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84. The business’s 50-day moving average price is $336.46 and its two-hundred day moving average price is $313.98.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network 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 business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company earned $0.80 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PANW shares. Morgan Stanley raised their target price on shares of Palo Alto Networks from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research report on Monday, August 19th. Barclays upped their target price on shares of Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Oppenheimer lifted their price target on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Finally, Truist Financial upped their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $366.08.

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.