The Vanguard Group, Inc. has recently announced that it has increased stake in Palo Alto Networks Inc (NASDAQ:PANW) by 1.10%. After grabbing 25.23 million shares, the institutional investor is now in possession of 0.27 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.00% having worth around $7.44 billion. Moreover, BlackRock Fund Advisors increased its share by 0.33 million to have a control over 14.89 million shares. And Morgan Stanley Smith Barney LLC raised its holdings to 0.23 million shares by acquiring 8.53 million shares or 2.71% of the stake.
Palo Alto Networks Inc (PANW) concluded trading on Thursday at a closing price of $340.19, with 3.45 million shares of worth about $1.17 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 38.85% during that period and on Thursday, January 25 the price saw a loss of about -0.01%. Currently the company’s common shares owned by public are about 315.30M shares, out of which, 310.84M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 176 times over the past 12 months. They bought 1,219,524 shares in 17 of the transactions. In 159 selling transactions, insiders dumped 2,040,882 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust are the top 3 mutual funds which are holding stakes in Palo Alto Networks Inc Vanguard Total Stock Market ETF is currently holding 9.9 million shares of worth totaling $2.92 billion. The company recently came buying 0.31 million shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 0.14 million shares, after which its hold over company’s outstanding shares expand to 2.41%, leaving 7.59 million shares with the mutual fund that have a worth of about $2.24 billion. Invesco QQQ Trust, after selling 5.8 million shares, have now control over 1.84% of the stake in the company. It holds 14877.0 shares of worth $1.71 billion.
However, the stock later moved at a day high price of 343.74, or with a loss of -0.01%. Stock saw a price change of 1.32% in past 5 days and over the past one month there was a price change of 14.08%. Year-to-date (YTD), PANW shares are showing a performance of 15.37% which increased to 125.08% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $146.95 but also hit the highest price of $350.60 during that period. The average intraday trading volume for Palo Alto Networks Inc shares is 4.17 million. The stock is currently trading 8.85% above its 20-day simple moving average (SMA20), while that difference is up 15.33% for SMA50 and it goes to 39.02% higher than SMA200.
The Vanguard Group, Inc. acquired 25.23 million shares of Palo Alto Networks Inc having value of about $7.44 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.27 million shares in the company valued at close to $93440327.49, or have control over 1.10% stake in the company. Palo Alto Networks Inc (NASDAQ: PANW) currently have 315.30M outstanding shares and institutions hold larger chunk of about 86.22% of that. Holding of mutual funds in the company is about 46.19% while other institutional holders and individual stake holders have control over 5.60% and 40.56% of the stake respectively.
The stock has a current market capitalization of $107.26B and its 3Y-monthly beta is at 1.26. PE ratio of stock for trailing 12 months is 192.84, while it has posted earnings per share of $1.76 in the same period. Its PEG reads 8.57 and has Quick Ratio of 0.82 while making debt-to-equity ratio of 1.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PANW, volatility over the week remained 2.24% while standing at 2.34% over the month.
Analysts are in expectations that Palo Alto Networks Inc (PANW) stock would likely to be making an EPS of $1.3 in the current quarter, while forecast for next quarter EPS is $1.29 and it is $6.45 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.2 which is $1.41 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 24.18% while it is estimated to increase by 17.23% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Bernstein on January 18, 2024 offering an Outperform rating for the stock and assigned a target price of $402 to it.
