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

by · The Markets Daily

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings 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 valued at $1,113,948,000 after acquiring an additional 3,249,594 shares in the last quarter. Vanguard Group Inc. lifted its position in Palo Alto Networks by 3.6% in the first quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after purchasing an additional 1,002,239 shares during the period. Swedbank AB purchased a new stake in Palo Alto Networks in the 1st quarter valued at approximately $177,933,000. Altshuler Shaham Ltd increased its position in Palo Alto Networks by 444,100.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after purchasing an additional 444,100 shares during the period. Finally, Congress Asset Management Co. purchased a new position in shares of Palo Alto Networks during the 3rd quarter worth approximately $94,875,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PANW. UBS Group upped their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. BTIG Research raised their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. BNP Paribas assumed coverage on shares of Palo Alto Networks in a research report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 target price on the stock. Piper Sandler lifted their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird upped their price target on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $378.49.

Read Our Latest Analysis on Palo Alto Networks

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction that occurred 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 directly owns 41,517 shares in the company, valued at $14,175,564.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at $14,175,564.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 255,252 shares of company stock valued at $89,383,077. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Down 0.8 %

NASDAQ:PANW traded down $3.01 during trading hours on Monday, hitting $359.63. The stock had a trading volume of 283,525 shares, compared to its average volume of 3,920,595. The business has a 50 day simple moving average of $352.69 and a two-hundred day simple moving average of $329.75. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The company 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.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Research analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal 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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