Kolinsky Wealth Management LLC Increases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Kolinsky Wealth Management LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.2% in the 4th quarter, Holdings Channel reports. 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in PANW. Vanguard Group Inc. lifted its stake in shares of Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares during the period. Geode Capital Management LLC raised its holdings in Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock worth $2,611,013,000 after purchasing an additional 6,725,148 shares during the last quarter. Capital Research Global Investors boosted its position in Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares in the last quarter. Northern Trust Corp grew its holdings in Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock valued at $1,427,048,000 after purchasing an additional 4,486,654 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Palo Alto Networks by 17.6% in the fourth quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company’s stock valued at $1,324,387,000 after buying an additional 1,088,631 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 0.1%

Shares of NASDAQ PANW opened at $194.48 on Wednesday. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The stock’s 50 day moving average price is $178.03 and its two-hundred day moving average price is $185.32. 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.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping 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%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. On average, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the sale, the executive vice president now directly owns 321,774 shares of the company’s stock, valued at approximately $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 568,962 shares of company stock worth $96,933,690. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of several recent analyst reports. KeyCorp reduced their price objective on shares of Palo Alto Networks from $240.00 to $205.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price target for the company in a research note on Thursday, April 10th. Susquehanna increased their target price on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a research report on Tuesday, February 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a research note on Monday, February 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $223.00 price target on shares of Palo Alto Networks in a report on Monday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.46.

Palo Alto Networks 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.