Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Lowered by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC lessened its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 69.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 730 shares of the network technology company’s stock after selling 1,673 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Palo Alto Networks were worth $208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PANW. Graham Capital Management L.P. acquired a new position in Palo Alto Networks during the 3rd quarter worth $1,031,000. Raleigh Capital Management Inc. raised its position in shares of Palo Alto Networks by 41.8% during the third quarter. Raleigh Capital Management Inc. now owns 207 shares of the network technology company’s stock valued at $49,000 after buying an additional 61 shares during the last quarter. Symmetry Partners LLC raised its position in shares of Palo Alto Networks by 7.1% during the fourth quarter. Symmetry Partners LLC now owns 1,163 shares of the network technology company’s stock valued at $344,000 after buying an additional 77 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Palo Alto Networks by 44.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 614 shares of the network technology company’s stock valued at $181,000 after buying an additional 190 shares during the last quarter. Finally, DNB Asset Management AS raised its position in shares of Palo Alto Networks by 49.8% during the fourth quarter. DNB Asset Management AS now owns 100,813 shares of the network technology company’s stock valued at $29,728,000 after buying an additional 33,514 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 1.4 %

Shares of Palo Alto Networks stock traded up $4.58 on Monday, hitting $341.08. The stock had a trading volume of 1,483,214 shares, compared to its average volume of 4,636,349. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84. The stock has a market cap of $110.44 billion, a price-to-earnings ratio of 49.39, a PEG ratio of 5.15 and a beta of 1.14. The stock’s 50-day simple moving average is $316.50 and its two-hundred day simple moving average is $309.68.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of a number of research analyst reports. Sanford C. Bernstein upped their price objective on shares of Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. KeyCorp upped their target price on shares of Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Wedbush reissued an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $360.00 target price on shares of Palo Alto Networks in a research note on Wednesday, June 12th. Twelve analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total value of $10,376,640.00. Following the transaction, the executive vice president now owns 1,295,567 shares in the company, valued at approximately $373,434,232.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 428,391 shares of company stock valued at $136,147,317. 3.30% of the stock is currently owned by company 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.