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

Mn Services Vermogensbeheer B.V. cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,700 shares of the network technology company's stock after selling 4,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Palo Alto Networks were worth $42,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd grew its stake in Palo Alto Networks by 61.8% in the first quarter. Covestor Ltd now owns 55 shares of the network technology company's stock worth $35,000 after purchasing an additional 21 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Palo Alto Networks by 0.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company's stock worth $1,843,000 after buying an additional 23 shares during the period. Brighton Jones LLC increased its stake in shares of Palo Alto Networks by 6.5% in the 1st quarter. Brighton Jones LLC now owns 425 shares of the network technology company's stock worth $265,000 after acquiring an additional 26 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Palo Alto Networks by 6.4% during the first quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company's stock worth $281,000 after acquiring an additional 27 shares in the last quarter. Finally, MV Capital Management Inc. grew its holdings in Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company's stock worth $32,000 after purchasing an additional 29 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PANW shares. Sanford C. Bernstein started coverage on Palo Alto Networks in a research note on Thursday, January 18th. They issued an "outperform" rating on the stock. KeyCorp reduced their price target on Palo Alto Networks from $390.00 to $380.00 and set an "overweight" rating for the company in a report on Wednesday, February 21st. Rosenblatt Securities cut shares of Palo Alto Networks from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $290.00 to $265.00 in a research note on Wednesday, February 21st. Stifel Nicolaus restated a "buy" rating and set a $330.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $380.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $314.82.

Palo Alto Networks Trading Down 1.7 %

Shares of PANW traded down $4.79 during trading hours on Friday, reaching $279.07. 2,907,960 shares of the stock traded hands, compared to its average volume of 3,750,887. The company has a market cap of $90.17 billion, a P/E ratio of 43.60, a price-to-earnings-growth ratio of 3.87 and a beta of 1.19. The company's 50-day moving average price is $303.68 and its two-hundred day moving average price is $289.32. Palo Alto Networks, Inc. has a 52-week low of $176.30 and a 52-week high of $380.84.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. On average, research analysts forecast that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 1,050 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares of the company's stock, valued at $7,629,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the sale, the executive vice president now owns 174,075 shares of the company's stock, valued at approximately $46,659,063. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares of the company's stock, valued at $7,629,160. The disclosure for this sale can be found here. Insiders sold a total of 176,017 shares of company stock valued at $52,068,877 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Company 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.