Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Kolinsky Wealth Management LLC

Kolinsky Wealth Management LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,243 shares of the network technology company’s stock after purchasing an additional 622 shares during the period. Kolinsky Wealth Management LLC’s holdings in Palo Alto Networks were worth $226,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PANW. Uniting Wealth Partners LLC bought a new position in Palo Alto Networks during the fourth quarter valued at about $548,000. Rehmann Capital Advisory Group grew its position in Palo Alto Networks by 106.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company’s stock worth $433,000 after acquiring an additional 1,226 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Palo Alto Networks by 94.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company’s stock worth $2,122,000 after acquiring an additional 5,658 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in shares of Palo Alto Networks by 108.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company’s stock valued at $3,886,000 after buying an additional 11,095 shares during the period. Finally, National Pension Service lifted its position in Palo Alto Networks by 82.1% during the 4th quarter. National Pension Service now owns 1,345,740 shares of the network technology company’s stock valued at $244,871,000 after purchasing an additional 606,778 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, May 5th. The shares were sold at an average price of $189.27, for a total value of $22,858,894.98. Following the completion of the transaction, the executive vice president now owns 293,010 shares of the company’s stock, valued at approximately $55,458,002.70. The trade was a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 568,962 shares of company stock valued at $96,933,690 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of a number of research analyst reports. Susquehanna raised their price objective 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. Stephens downgraded Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research note on Monday. HSBC raised shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley dropped their target price on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $203.46.

Palo Alto Networks Trading Up 0.1%

PANW opened at $194.48 on Wednesday. The stock has a market capitalization of $128.77 billion, a P/E ratio of 109.57, a PEG ratio of 5.64 and a beta of 1.02. The stock has a 50-day moving average price of $178.03 and a 200-day moving average price of $185.32. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. During the same quarter last year, the firm earned $0.66 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.