Mn Services Vermogensbeheer B.V. Has $45.34 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mn Services Vermogensbeheer B.V. lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 104.8% during the fourth quarter, HoldingsChannel reports. The firm owned 249,200 shares of the network technology company’s stock after buying an additional 127,500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Palo Alto Networks were worth $45,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC bought a new position in shares of Palo Alto Networks during the third quarter worth approximately $1,156,000. Harvest Portfolios Group Inc. acquired a new position in Palo Alto Networks during the 3rd quarter worth about $24,414,000. Jennison Associates LLC lifted its holdings in Palo Alto Networks by 50.1% during the 3rd quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock worth $1,075,718,000 after buying an additional 1,050,173 shares during the period. Swiss National Bank lifted its holdings in Palo Alto Networks by 0.5% during the 3rd quarter. Swiss National Bank now owns 961,000 shares of the network technology company’s stock worth $328,470,000 after buying an additional 4,400 shares during the period. Finally, Congress Asset Management Co. acquired a new position in Palo Alto Networks during the 3rd quarter worth about $94,875,000. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the sale, the chief accounting officer now owns 47,976 shares in the company, valued at $8,694,210.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock worth $204,315,811 over the last quarter. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PANW has been the topic of several recent research reports. Robert W. Baird lifted their target price on Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a report on Thursday, November 21st. BMO Capital Markets raised their price objective on Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 21st. Truist Financial increased their target price on shares of Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Scotiabank lifted their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.06.

Palo Alto Networks Trading Up 0.8 %

Shares of PANW stock opened at $189.55 on Thursday. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The firm’s 50 day moving average is $186.60 and its 200 day moving average is $184.12. The stock has a market capitalization of $125.50 billion, a P/E ratio of 106.79, a P/E/G ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current 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.