Northwestern Mutual Wealth Management Co. Sells 466,238 Shares of Palo Alto Networks, Inc. $PANW

Northwestern Mutual Wealth Management Co. lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 96.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,773 shares of the network technology company’s stock after selling 466,238 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Palo Alto Networks were worth $3,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in PANW. Darwin Wealth Management LLC bought a new position in shares of Palo Alto Networks during the second quarter worth approximately $25,000. Steph & Co. increased its stake in shares of Palo Alto Networks by 88.2% during the fourth quarter. Steph & Co. now owns 143 shares of the network technology company’s stock worth $26,000 after purchasing an additional 67 shares during the period. Knuff & Co LLC bought a new position in shares of Palo Alto Networks during the fourth quarter worth approximately $26,000. Luken Investment Analytics LLC increased its stake in shares of Palo Alto Networks by 196.2% during the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock worth $28,000 after purchasing an additional 102 shares during the period. Finally, WHI TRUST Co LLC bought a new position in Palo Alto Networks during the 4th quarter worth $28,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $260.58 on Tuesday. The stock’s fifty day moving average price is $185.14 and its two-hundred day moving average price is $182.38. The company has a market cap of $212.63 billion, a PE ratio of 143.97, a P/E/G ratio of 9.39 and a beta of 0.77. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $261.41.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 400 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $236.95, for a total value of $94,780.00. Following the sale, the chief accounting officer owned 82,736 shares of the company’s stock, valued at approximately $19,604,295.20. This trade represents a 0.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $160.42, for a total value of $802,100.00. Following the sale, the executive vice president directly owned 150,250 shares in the company, valued at approximately $24,103,105. This trade represents a 3.22% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 30,756 shares of company stock worth $5,076,355. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on PANW. Benchmark began coverage on Palo Alto Networks in a research note on Wednesday, April 1st. They set a “buy” rating and a $200.00 price objective on the stock. Oppenheimer restated an “outperform” rating and set a $275.00 price objective (up from $245.00) on shares of Palo Alto Networks in a research note on Friday, May 15th. Berenberg Bank set a $215.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Needham & Company LLC lowered their price objective on Palo Alto Networks from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Finally, Rosenblatt Securities raised their price objective on Palo Alto Networks from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.33.

Palo Alto Networks Profile

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.