Palo Alto Networks stock is trading -14.02% below its average target price of $279.77 after marking a 1.5% during today's morning session. Analysts are giving the large-cap Computer Equipment company an average rating of buy and target prices ranging from $190.0 to $340.0 per share.
The stock has an average amount of shares sold short at 6.6%, and a short ratio of 7.53. The company's insiders own 1.22% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 88.4% of Palo Alto Networks's shares being owned by this investor type.
Institutions Invested in Palo Alto Networks
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 27% | 26,207,460 | $6,304,204,582 |
| 2023-06-30 | Blackrock Inc. | 23% | 22,318,120 | $5,368,623,834 |
| 2023-06-30 | State Street Corporation | 12% | 11,935,365 | $2,871,052,087 |
| 2023-06-30 | Morgan Stanley | 11% | 10,561,919 | $2,540,669,647 |
| 2023-06-30 | Bank of America Corporation | 11% | 10,318,163 | $2,482,034,141 |
| 2023-06-30 | Geode Capital Management, LLC | 6% | 5,709,428 | $1,373,402,922 |
| 2023-06-30 | JP Morgan Chase & Company | 6% | 5,437,247 | $1,307,929,782 |
| 2022-12-31 | Norges Bank Investment Management | 6% | 5,383,947 | $1,295,108,467 |
| 2023-06-30 | Nuveen Asset Management, LLC | 5% | 5,097,605 | $1,226,228,898 |
| 2023-06-30 | FMR, LLC | 5% | 4,568,649 | $1,098,988,530 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Palo Alto Networks.
