Focus Partners Wealth Has $109.21 Million Stock Holdings in Palo Alto Networks, Inc. $PANW

Focus Partners Wealth boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 536,325 shares of the network technology company’s stock after buying an additional 36,649 shares during the quarter. Focus Partners Wealth owned approximately 0.08% of Palo Alto Networks worth $109,208,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PANW. Darwin Wealth Management LLC acquired a new position in shares of Palo Alto Networks in the second quarter worth $25,000. Howard Hughes Medical Institute acquired a new stake in Palo Alto Networks during the second quarter valued at $29,000. Winch Advisory Services LLC boosted its position in Palo Alto Networks by 96.1% during the third quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. MTM Investment Management LLC purchased a new position in Palo Alto Networks in the second quarter valued at about $31,000. Finally, Caitlin John LLC purchased a new position in Palo Alto Networks in the third quarter valued at about $31,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In related news, Director James J. Goetz sold 22,684 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the completion of the transaction, the director owned 52,500 shares of the company’s stock, valued at approximately $8,631,525. The trade was a 30.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,768 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $191.03, for a total value of $23,070,311.04. Following the completion of the sale, the executive vice president directly owned 298,887 shares in the company, valued at $57,096,383.61. This trade represents a 28.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 149,252 shares of company stock worth $27,888,535. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Stock Down 0.7%

Shares of Palo Alto Networks stock opened at $167.01 on Monday. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $223.61. The stock has a 50 day moving average price of $169.84 and a two-hundred day moving average price of $189.52. The stock has a market capitalization of $136.28 billion, a P/E ratio of 92.27, a PEG ratio of 6.03 and a beta of 0.78.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.58 billion. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PANW shares. Guggenheim reaffirmed a “neutral” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. The Goldman Sachs Group lowered their price target on Palo Alto Networks from $240.00 to $224.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. DA Davidson set a $190.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a report on Wednesday, February 18th. Daiwa Securities Group cut their price objective on shares of Palo Alto Networks from $212.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Finally, Loop Capital decreased their target price on shares of Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $210.19.

About Palo Alto Networks

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.