Reynders McVeigh Capital Management LLC Raises Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Reynders McVeigh Capital Management LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 116.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,524 shares of the network technology company’s stock after purchasing an additional 819 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Palo Alto Networks were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. SJS Investment Consulting Inc. grew its stake in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares in the last quarter. Valued Wealth Advisors LLC grew its stake in Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management increased its holdings in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC raised its position in Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.0 %

NASDAQ:PANW opened at $168.34 on Monday. The company has a market capitalization of $111.46 billion, a PE ratio of 94.84, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 52-week low of $135.18 and a 52-week high of $208.39. The stock has a fifty day simple moving average of $182.29 and a 200-day simple moving average of $184.90.

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

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares of the company’s stock, valued at $48,629,704.62. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 939,318 shares of company stock valued at $165,384,602 over the last three months. 2.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on PANW shares. Susquehanna boosted their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $190.00 target price (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. UBS Group raised their price target on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley set a $230.00 price objective on Palo Alto Networks in a research report on Tuesday, March 18th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $235.00 target price on shares of Palo Alto Networks in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $204.52.

About Palo Alto Networks

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.