Palo Alto Networks, Inc. $PANW Stock Holdings Increased by Peak Retirement Planning Inc.

Peak Retirement Planning Inc. increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 42.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,613 shares of the network technology company’s stock after buying an additional 3,485 shares during the quarter. Peak Retirement Planning Inc.’s holdings in Palo Alto Networks were worth $2,365,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PANW. Darwin Wealth Management LLC purchased a new stake in shares of Palo Alto Networks during the second quarter worth $25,000. Whipplewood Advisors LLC grew its stake in shares of Palo Alto Networks by 6,400.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after buying an additional 128 shares in the last quarter. Briaud Financial Planning Inc acquired a new position in Palo Alto Networks in the second quarter worth approximately $28,000. Howard Hughes Medical Institute bought a new position in Palo Alto Networks during the second quarter valued at approximately $29,000. Finally, MTM Investment Management LLC acquired a new stake in Palo Alto Networks in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $175.42 on Tuesday. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $223.61. The company has a fifty day moving average price of $187.05 and a 200 day moving average price of $194.46. The stock has a market cap of $122.27 billion, a P/E ratio of 111.03, a PEG ratio of 4.22 and a beta of 0.75.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PANW shares. Bank of America increased their price target on shares of Palo Alto Networks from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Stephens upped their price target on Palo Alto Networks from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 20th. Mizuho set a $220.00 target price on Palo Alto Networks in a report on Tuesday, December 16th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Wednesday, December 17th. Finally, Wolfe Research upped their price objective on shares of Palo Alto Networks from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. Thirty-one equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.09.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,768 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $191.03, for a total transaction of $23,070,311.04. Following the sale, the executive vice president directly owned 298,887 shares in the company, valued at approximately $57,096,383.61. The trade was a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James J. Goetz sold 12,500 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $195.33, for a total value of $2,441,625.00. Following the completion of the transaction, the director directly owned 75,184 shares of the company’s stock, valued at approximately $14,685,690.72. This trade represents a 14.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 260,542 shares of company stock worth $49,910,995 over the last quarter. 1.40% of the stock is owned by company insiders.

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.