Assenagon Asset Management S.A. Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Posted by on Mar 23rd, 2023

Assenagon Asset Management S.A. increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 107.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,766 shares of the network technology company’s stock after purchasing an additional 59,943 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Palo Alto Networks were worth $16,154,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PANW. Avondale Wealth Management boosted its stake in Palo Alto Networks by 200.0% during the third quarter. Avondale Wealth Management now owns 150 shares of the network technology company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Emfo LLC boosted its stake in Palo Alto Networks by 200.0% during the third quarter. Emfo LLC now owns 150 shares of the network technology company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. JNBA Financial Advisors boosted its stake in Palo Alto Networks by 200.0% during the third quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Ten Capital Wealth Advisors LLC boosted its stake in Palo Alto Networks by 200.0% during the third quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Finally, Adirondack Trust Co. boosted its stake in Palo Alto Networks by 200.0% during the third quarter. Adirondack Trust Co. now owns 156 shares of the network technology company’s stock worth $26,000 after buying an additional 104 shares during the last quarter. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Price Performance

Shares of PANW opened at $190.89 on Thursday. Palo Alto Networks, Inc. has a 12 month low of $132.22 and a 12 month high of $213.63. The stock has a market cap of $57.76 billion, a PE ratio of 2,727.00, a P/E/G ratio of 5.03 and a beta of 1.16. The stock’s 50-day moving average is $170.17 and its two-hundred day moving average is $163.14.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of recent research reports. Wolfe Research boosted their price objective on Palo Alto Networks from $170.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 22nd. KeyCorp increased their target price on Palo Alto Networks from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Scotiabank increased their target price on Palo Alto Networks from $195.00 to $212.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 22nd. Loop Capital increased their target price on Palo Alto Networks from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Finally, Guggenheim lowered Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 17th. Five investment analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $234.77.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 275 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $186.60, for a total value of $51,315.00. Following the completion of the sale, the chief accounting officer now directly owns 30,944 shares of the company’s stock, valued at $5,774,150.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Josh D. Paul sold 275 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $186.60, for a total value of $51,315.00. Following the completion of the sale, the chief accounting officer now directly owns 30,944 shares of the company’s stock, valued at $5,774,150.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 1,550 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $185.00, for a total value of $286,750.00. Following the transaction, the chief accounting officer now directly owns 31,125 shares of the company’s stock, valued at $5,758,125. The disclosure for this sale can be found here. Insiders sold a total of 157,644 shares of company stock valued at $27,482,009 over the last three months. 3.90% of the stock is owned by insiders.

About Palo Alto Networks

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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