On April 28, 2023 at 13:38:17 ET an unusually large $1,220.00K block of Call contracts in Palo Alto Networks (PANW) was bought, with a strike price of $183.33 / share, expiring in 266 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 3.44 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in PANW options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 2218 funds or institutions reporting positions in Palo Alto Networks. This is an increase of 72 owner(s) or 3.36% in the last quarter. Average portfolio weight of all funds dedicated to PANW is 0.56%, a decrease of 12.86%. Total shares owned by institutions increased in the last three months by 2.67% to 292,892K shares. The put/call ratio of PANW is 3.04, indicating a bearish outlook.

Analyst Price Forecast Suggests 21.58% Upside

As of April 24, 2023, the average one-year price target for Palo Alto Networks is $225.07. The forecasts range from a low of $141.40 to a high of $267.75. The average price target represents an increase of 21.58% from its latest reported closing price of $185.12.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Palo Alto Networks is $7,026MM, an increase of 14.14%. The projected annual non-GAAP EPS is $3.49.

What are Other Shareholders Doing?

Moody Lynn & Lieberson holds 40K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 53K shares, representing a decrease of 30.29%. The firm decreased its portfolio allocation in PANW by 99.94% over the last quarter.

Motley Fool Wealth Management holds 198K shares representing 0.07% ownership of the company. In it’s prior filing, the firm reported owning 204K shares, representing a decrease of 3.08%. The firm decreased its portfolio allocation in PANW by 99.91% over the last quarter.

Principal Street Partners holds 6K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 6K shares, representing a decrease of 4.11%. The firm decreased its portfolio allocation in PANW by 22.68% over the last quarter.

Pacer Advisors holds 9K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 9K shares, representing a decrease of 1.24%. The firm decreased its portfolio allocation in PANW by 99.94% over the last quarter.

Pitcairn holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 2K shares, representing a decrease of 0.88%. The firm decreased its portfolio allocation in PANW by 99.92% over the last quarter.

Palo Alto Networks Background Information
(This description is provided by the company.)

Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology that is transforming the way people and organizations operate. Its mission is to be the cybersecurity partner of choice, protecting the digital way of life. The Company helps address the world’s greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration. By delivering an integrated platform and empowering a growing ecosystem of partners, the Company is at the forefront of protecting tens of thousands of organizations across clouds, networks, and mobile devices. The vision of the Company is a world where each day is safer and more secure than the one before.

See all Palo Alto Networks regulatory filings.

This article originally appeared on Fintel