MUFG Securities EMEA plc Buys 197,751 Shares of Palo Alto Networks Inc (PANW)

MUFG Securities EMEA plc lifted its stake in Palo Alto Networks Inc (NYSE:PANW) by 3,470.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 203,449 shares of the network technology company’s stock after acquiring an additional 197,751 shares during the period. Palo Alto Networks accounts for 0.0% of MUFG Securities EMEA plc’s portfolio, making the stock its 27th largest position. MUFG Securities EMEA plc’s holdings in Palo Alto Networks were worth $38,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Palo Alto Networks by 24.8% during the 3rd quarter. Renaissance Technologies LLC now owns 4,651,200 shares of the network technology company’s stock worth $1,047,729,000 after buying an additional 925,500 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Palo Alto Networks by 3,273.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 428,421 shares of the network technology company’s stock worth $96,506,000 after buying an additional 415,721 shares during the last quarter. Flossbach Von Storch AG grew its stake in Palo Alto Networks by 92.2% during the 4th quarter. Flossbach Von Storch AG now owns 387,080 shares of the network technology company’s stock worth $72,907,000 after buying an additional 185,649 shares during the last quarter. Janus Henderson Group PLC grew its stake in Palo Alto Networks by 183.2% during the 3rd quarter. Janus Henderson Group PLC now owns 269,965 shares of the network technology company’s stock worth $60,812,000 after buying an additional 174,644 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Palo Alto Networks by 17.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,087,826 shares of the network technology company’s stock worth $204,891,000 after buying an additional 158,322 shares during the last quarter. 78.89% of the stock is owned by hedge funds and other institutional investors.

In other Palo Alto Networks news, EVP Nir Zuk sold 30,000 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $184.49, for a total transaction of $5,534,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 7,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $241.11, for a total value of $1,808,325.00. Following the transaction, the executive vice president now directly owns 310,620 shares of the company’s stock, valued at approximately $74,893,588.20. The disclosure for this sale can be found here. Insiders sold a total of 210,652 shares of company stock valued at $45,891,526 in the last ninety days. 3.10% of the stock is currently owned by insiders.



Several research analysts recently weighed in on the company. Oppenheimer boosted their target price on Palo Alto Networks from $270.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 27th. Dougherty & Co reiterated a “buy” rating and set a $300.00 price target (up previously from $260.00) on shares of Palo Alto Networks in a research note on Wednesday, February 27th. Monness Crespi & Hardt reiterated a “buy” rating and set a $280.00 price target (up previously from $235.00) on shares of Palo Alto Networks in a research note on Wednesday, February 27th. KeyCorp boosted their price target on Palo Alto Networks from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, February 27th. Finally, Morgan Stanley boosted their price target on Palo Alto Networks from $266.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $267.37.

NYSE PANW traded up $0.21 during trading hours on Thursday, reaching $242.96. The company’s stock had a trading volume of 341,427 shares, compared to its average volume of 1,703,793. The stock has a market capitalization of $22.75 billion, a price-to-earnings ratio of -441.74, a PEG ratio of 12.48 and a beta of 0.86. Palo Alto Networks Inc has a 1-year low of $160.08 and a 1-year high of $260.63. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.31.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Tuesday, February 26th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.29. The company had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $682.32 million. Palo Alto Networks had a positive return on equity of 4.69% and a negative net margin of 3.47%. Palo Alto Networks’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. Equities analysts predict that Palo Alto Networks Inc will post 0.82 EPS for the current fiscal year.

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Palo Alto Networks Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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