FUKOKU MUTUAL LIFE INSURANCE Co Has $552,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

FUKOKU MUTUAL LIFE INSURANCE Co lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,614 shares of the network technology company’s stock after selling 573 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Palo Alto Networks were worth $552,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PANW. Kathmere Capital Management LLC raised its stake in Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after buying an additional 30 shares during the last quarter. FLC Capital Advisors grew its holdings in shares of Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after acquiring an additional 30 shares during the period. Cromwell Holdings LLC grew its position in shares of Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after acquiring an additional 30 shares during the period. Rosenberg Matthew Hamilton increased its holdings in Palo Alto Networks by 9.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after acquiring an additional 30 shares in the last quarter. Finally, Geneva Partners LLC raised its holdings in Palo Alto Networks by 0.3% during the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after acquiring an additional 30 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $394.39 on Friday. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $408.53. The business’s 50 day simple moving average is $357.82 and its 200-day simple moving average is $335.01. The firm has a market capitalization of $128.41 billion, a price-to-earnings ratio of 54.40, a price-to-earnings-growth ratio of 5.84 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results 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 business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on PANW shares. Susquehanna raised their target price on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research note on Thursday, September 5th. Rosenblatt Securities lifted their target price on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Wedbush reissued an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research note on Friday, August 16th. KeyCorp lifted their price objective on Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Citigroup increased their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $381.56.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now directly owns 41,517 shares in the company, valued at approximately $14,175,564.48. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 in the last 90 days. 2.50% of the stock is owned by company insiders.

Palo Alto Networks 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.