Randolph Co Inc Increases Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Randolph Co Inc grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 99.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 83,130 shares of the network technology company’s stock after buying an additional 41,527 shares during the quarter. Palo Alto Networks makes up about 1.7% of Randolph Co Inc’s investment portfolio, making the stock its 25th largest holding. Randolph Co Inc’s holdings in Palo Alto Networks were worth $15,126,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Howard Capital Management Group LLC grew its holdings in shares of Palo Alto Networks by 1.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock worth $36,316,000 after acquiring an additional 1,619 shares during the period. SOA Wealth Advisors LLC. boosted its position in shares of Palo Alto Networks by 10.7% during the third quarter. SOA Wealth Advisors LLC. now owns 2,606 shares of the network technology company’s stock valued at $891,000 after purchasing an additional 252 shares in the last quarter. World Investment Advisors LLC grew its stake in Palo Alto Networks by 15.1% in the third quarter. World Investment Advisors LLC now owns 8,528 shares of the network technology company’s stock worth $2,915,000 after purchasing an additional 1,119 shares during the period. Sfmg LLC raised its holdings in Palo Alto Networks by 1.1% in the third quarter. Sfmg LLC now owns 16,836 shares of the network technology company’s stock worth $5,754,000 after purchasing an additional 189 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Palo Alto Networks during the third quarter valued at $2,642,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Price Performance

Shares of PANW opened at $181.54 on Tuesday. The firm has a market cap of $120.20 billion, a P/E ratio of 102.28, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 1 year low of $142.00 and a 1 year high of $208.39. The company has a 50 day simple moving average of $176.39 and a two-hundred day simple moving average of $184.69.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. KeyCorp decreased their price target on shares of Palo Alto Networks from $240.00 to $205.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $223.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Evercore ISI lowered their target price on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a report on Tuesday, December 31st. BTIG Research downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Finally, HSBC raised 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. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $203.06.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. The trade was a 2.74 % decrease in their ownership of the stock. The sale 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 on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares of the company’s stock, valued at $48,629,704.62. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,039,318 shares of company stock worth $181,925,602. Corporate insiders own 2.50% of the company’s stock.

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.