Mn Services Vermogensbeheer B.V. Cuts Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mn Services Vermogensbeheer B.V. reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 231,000 shares of the network technology company's stock after selling 18,200 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Palo Alto Networks were worth $39,418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at $25,000. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after buying an additional 55 shares during the last quarter. Kiely Wealth Advisory Group Inc. grew its holdings in shares of Palo Alto Networks by 100.0% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after buying an additional 75 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 79 shares during the last quarter. Finally, Anchor Investment Management LLC grew its holdings in shares of Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 78 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PANW. Susquehanna lifted their price objective on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a report on Tuesday, February 18th. Rosenblatt Securities restated a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a report on Monday, May 19th. Finally, KeyCorp restated an "overweight" rating and set a $220.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the transaction, the executive vice president now owns 264,246 shares of the company's stock, valued at $51,564,964.44. This represents a 31.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 789,736 shares of company stock valued at $139,837,528. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock traded down $1.40 during midday trading on Friday, reaching $196.27. 3,815,861 shares of the stock were exchanged, compared to its average volume of 5,484,807. The company's fifty day moving average is $184.15 and its 200-day moving average is $185.06. The firm has a market cap of $130.87 billion, a PE ratio of 110.58, a PEG ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Palo Alto Networks's revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 EPS. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Palo Alto Networks Profile

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.