This evening we watched Palo Alto Networks rise 3.0% to a price of $320.33 per share. The Large-Cap Computer Equipment company is now trading -5.75% below its average target price of $339.88. Analysts have set target prices ranging from $275.0 to $385.0 per share for Palo Alto Networks, and have given the stock an average rating of buy.
The stock has an average amount of shares sold short at 3.7%, and a short ratio of 3.68. The company's insiders own 1.08% 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 80.5% of Palo Alto Networks's shares being owned by this investor type.
Institutions Invested in Palo Alto Networks
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | Vanguard Group Inc | 29% | 28,572,098 | $9,152,499,768 |
| 2024-03-31 | Blackrock Inc. | 25% | 24,085,106 | $7,715,181,681 |
| 2024-03-31 | Morgan Stanley | 14% | 13,861,763 | $4,440,338,355 |
| 2024-03-31 | State Street Corporation | 13% | 12,994,578 | $4,162,552,996 |
| 2024-03-31 | Bank of America Corporation | 8% | 7,556,815 | $2,420,674,447 |
| 2024-03-31 | JP Morgan Chase & Company | 8% | 7,532,314 | $2,412,826,042 |
| 2024-03-31 | Geode Capital Management, LLC | 7% | 7,013,825 | $2,246,738,468 |
| 2023-12-31 | Norges Bank Investment Management | 5% | 5,300,530 | $1,697,918,703 |
| 2024-03-31 | FMR, LLC | 5% | 4,605,012 | $1,475,123,432 |
| 2024-03-31 | Capital Research Global Investors | 4% | 4,347,246 | $1,392,553,252 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Palo Alto Networks.
