Palo Alto Networks, Inc. (NASDAQ:PANW) Position Cut by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 121,700 shares of the network technology company’s stock after selling 3,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Palo Alto Networks were worth $41,597,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PANW. Vanguard Group Inc. increased its position in Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after acquiring an additional 1,002,239 shares during the period. International Assets Investment Management LLC grew its stake in shares of Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after purchasing an additional 3,249,594 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Palo Alto Networks by 8.5% during the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after purchasing an additional 255,060 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Palo Alto Networks by 5.4% during the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock valued at $757,321,000 after purchasing an additional 114,742 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in Palo Alto Networks by 8.0% in the second quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock worth $339,183,000 after purchasing an additional 73,922 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PANW shares. Evercore ISI boosted their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Stifel Nicolaus upped their target price on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Finally, Citigroup lifted their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $378.49.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the sale, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the sale, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,252 shares of company stock worth $89,383,077. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Down 0.8 %

NASDAQ PANW traded down $3.01 on Monday, reaching $359.63. The company’s stock had a trading volume of 283,525 shares, compared to its average volume of 3,920,595. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00. The firm has a market cap of $117.10 billion, a PE ratio of 49.60, a price-to-earnings-growth ratio of 5.22 and a beta of 1.12. The business has a 50-day moving average price of $352.69 and a 200 day moving average price of $329.75.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. Analysts anticipate that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.