Commerzbank Aktiengesellschaft FI Has $87.95 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Commerzbank Aktiengesellschaft FI grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 257,313 shares of the network technology company’s stock after buying an additional 11,808 shares during the period. Palo Alto Networks makes up approximately 2.3% of Commerzbank Aktiengesellschaft FI’s holdings, making the stock its 14th biggest position. Commerzbank Aktiengesellschaft FI owned about 0.08% of Palo Alto Networks worth $87,950,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PANW. Vanguard Group Inc. raised its holdings in Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after acquiring an additional 1,002,239 shares during the period. Legal & General Group Plc increased its stake in shares of Palo Alto Networks by 8.5% in the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after purchasing an additional 255,060 shares during the period. Jennison Associates LLC increased its stake in shares of Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares during the period. Canada Pension Plan Investment Board boosted its stake in Palo Alto Networks by 5.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock valued at $757,321,000 after purchasing an additional 114,742 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Palo Alto Networks by 8.0% during the 2nd quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock valued at $339,183,000 after purchasing an additional 73,922 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the subject of a number of research analyst reports. Rosenblatt Securities upped their price target on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. JPMorgan Chase & Co. increased their price target on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. BNP Paribas started coverage on shares of Palo Alto Networks in a report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price objective on the stock. Stifel Nicolaus increased their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $376.82.

Insider Buying and Selling at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,452 shares of company stock worth $118,643,279. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $365.69 on Wednesday. The stock has a market cap of $119.07 billion, a price-to-earnings ratio of 51.88, a P/E/G ratio of 5.43 and a beta of 1.13. The company has a 50 day moving average of $350.47 and a 200-day moving average of $324.94. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last released its 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 firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

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.