XTX Topco Ltd Makes New $706,000 Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

XTX Topco Ltd acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,084 shares of the network technology company’s stock, valued at approximately $706,000.

Several other hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the first quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks during the 4th quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. Ulland Investment Advisors LLC acquired a new stake in shares of Palo Alto Networks in the first quarter worth $30,000. Finally, Central Bank & Trust Co. raised its holdings in shares of Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $340.12 on Monday. The firm has a 50 day simple moving average of $336.39 and a 200-day simple moving average of $313.57. The stock has a market cap of $110.13 billion, a price-to-earnings ratio of 49.44, a price-to-earnings-growth ratio of 5.04 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) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Nikesh Arora sold 66,668 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $336.54, for a total value of $22,436,448.72. Following the sale, the chief executive officer now owns 694,228 shares in the company, valued at approximately $233,635,491.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 464,075 shares of company stock worth $154,029,567. Company insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 20th. The Goldman Sachs Group raised their target price on Palo Alto Networks from $330.00 to $376.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Piper Sandler upped their price objective on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird raised their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, UBS Group increased their price target on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target 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.