Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Boosted by Achmea Investment Management B.V.

by · The Cerbat Gem

Achmea Investment Management B.V. boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 9.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 291,850 shares of the network technology company’s stock after purchasing an additional 24,062 shares during the quarter. Palo Alto Networks makes up approximately 0.7% of Achmea Investment Management B.V.’s holdings, making the stock its 27th largest position. Achmea Investment Management B.V.’s holdings in Palo Alto Networks were worth $49,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quilter Plc increased its stake in shares of Palo Alto Networks by 16.1% during the first quarter. Quilter Plc now owns 799,482 shares of the network technology company’s stock valued at $136,424,000 after acquiring an additional 110,608 shares during the period. Canvas Wealth Advisors LLC lifted its holdings in Palo Alto Networks by 46.5% in the 1st quarter. Canvas Wealth Advisors LLC now owns 29,923 shares of the network technology company’s stock valued at $4,896,000 after acquiring an additional 9,501 shares during the last quarter. Cornerstone Enterprises LLC grew its stake in shares of Palo Alto Networks by 10.3% in the 1st quarter. Cornerstone Enterprises LLC now owns 12,881 shares of the network technology company’s stock worth $2,198,000 after purchasing an additional 1,207 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in Palo Alto Networks by 1.3% during the first quarter. Transcend Capital Advisors LLC now owns 10,506 shares of the network technology company’s stock valued at $1,793,000 after purchasing an additional 130 shares during the last quarter. Finally, Trust Co. of Vermont grew its position in Palo Alto Networks by 0.8% in the first quarter. Trust Co. of Vermont now owns 167,399 shares of the network technology company’s stock worth $28,565,000 after buying an additional 1,383 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the transaction, the executive vice president now owns 3,543,516 shares of the company’s stock, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares of the company’s stock, valued at approximately $54,854,038.83. This trade represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 795,536 shares of company stock worth $141,007,618 in the last quarter. 2.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PANW shares. KeyCorp reaffirmed an “overweight” rating and set a $220.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Roth Capital initiated coverage on Palo Alto Networks in a report on Thursday, May 15th. They issued a “neutral” rating and a $210.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Sanford C. Bernstein set a $225.00 target price on shares of Palo Alto Networks and gave the company an “outperform” rating in a research note on Wednesday, May 21st. Finally, Jefferies Financial Group increased their price objective on Palo Alto Networks from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.00.

Check Out Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $202.34 on Friday. The stock has a market cap of $134.92 billion, a P/E ratio of 115.62, a PEG ratio of 5.70 and a beta of 0.97. The company has a fifty day moving average price of $190.04 and a 200 day moving average price of $185.39. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the firm earned $0.66 EPS. Palo Alto Networks’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

About Palo Alto Networks

(Free Report)

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.

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