After this afternoon's 4.0% surge to $289.01 per share, Palo Alto Networks might just keep moving past its target price of $281.44. With an average analyst rating of buy, and target prices from $190.0 to $340.0, the stock's next move is anyone's guess.
The stock has an average amount of shares sold short at 5.9%, and a short ratio of 4.98. 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 |
|---|---|---|---|---|
| 2023-09-30 | Vanguard Group Inc | 27% | 26,511,732 | $7,662,116,279 |
| 2023-09-30 | Blackrock Inc. | 24% | 23,537,377 | $6,802,502,359 |
| 2023-09-30 | State Street Corporation | 12% | 11,826,872 | $3,418,066,706 |
| 2023-09-30 | Morgan Stanley | 11% | 10,814,578 | $3,125,505,121 |
| 2023-09-30 | Bank of America Corporation | 9% | 8,760,105 | $2,531,744,932 |
| 2023-09-30 | Geode Capital Management, LLC | 6% | 5,886,308 | $1,701,193,130 |
| 2023-09-30 | Capital Research Global Investors | 6% | 5,845,141 | $1,689,295,516 |
| 2023-09-30 | Royal Bank of Canada | 6% | 5,830,146 | $1,684,961,834 |
| 2022-12-31 | Norges Bank Investment Management | 6% | 5,383,947 | $1,556,006,524 |
| 2023-09-30 | Nuveen Asset Management, LLC | 5% | 5,129,523 | $1,482,475,821 |
Besides an analyst consensus of little upside potential, other market factors point to there being positive market sentiment on Palo Alto Networks.
