BlackRock Amends Palo Alto Networks Stake, Signals Confidence

TL;DR

**BlackRock still holds a big chunk of Palo Alto Networks, showing strong institutional backing.**

AI Summary

BlackRock, Inc. filed an amended SC 13G/A on January 26, 2024, disclosing its ownership in Palo Alto Networks Inc. as of December 31, 2023. This filing, Amendment No. 5, indicates BlackRock's continued significant stake in the cybersecurity company. For investors, this matters because BlackRock is a major institutional investor, and its sustained position suggests confidence in Palo Alto Networks' long-term prospects, potentially influencing other investors' perceptions and decisions.

Why It Matters

BlackRock's continued substantial ownership in Palo Alto Networks Inc. signals institutional confidence, which can positively influence market sentiment and investor perception of the stock's stability and future growth.

Risk Assessment

Risk Level: low — This filing indicates a major institutional investor's continued stake, generally reducing perceived risk due to their due diligence and long-term investment horizon.

Analyst Insight

A smart investor would view BlackRock's continued significant holding as a positive signal, potentially reinforcing a decision to hold or consider buying Palo Alto Networks stock, given the institutional confidence.

Key Players & Entities

• BlackRock, Inc. (company) — the reporting person and major institutional investor
• Palo Alto Networks Inc (company) — the subject company in which BlackRock holds shares
• December 31, 2023 (date) — the date of the event which required the filing
• January 26, 2024 (date) — the filing date of the SC 13G/A
• Amendment No. 5 (number) — the specific amendment number of the filing

Forward-Looking Statements

• BlackRock will maintain a significant stake in Palo Alto Networks Inc. throughout 2024. (BlackRock, Inc.) — high confidence, target: 2024-12-31

FAQ

From the Filing

0001086364-24-004327.txt : 20240126 0001086364-24-004327.hdr.sgml : 20240126 20240126114942 ACCESSION NUMBER: 0001086364-24-004327 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240126 DATE AS OF CHANGE: 20240126 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Palo Alto Networks Inc CENTRAL INDEX KEY: 0001327567 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] ORGANIZATION NAME: 06 Technology IRS NUMBER: 202530195 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-87250 FILM NUMBER: 24565827 BUSINESS ADDRESS: STREET 1: 3000 TANNERY WAY CITY: SANTA CLARA STATE: CA ZIP: 95054 BUSINESS PHONE: 408-753-4000 MAIL ADDRESS: STREET 1: 3000 TANNERY WAY CITY: SANTA CLARA STATE: CA ZIP: 95054 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us6974351057_012624.txt us6974351057_012624.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 5) Palo Alto Networks Inc -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 697435105 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 697435105 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 22409511 (6) Shared voting power 0 (7) Sole dispositive power 24622005 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 24622005 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 7.8% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- Palo Alto Networks Inc Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 3000 TANNERY WAY SANTA CLARA CA 95054 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal business office or, if none, residence: -----------------------------