BAM Wealth Management LLC Takes $611,000 Position in Palo Alto Networks, Inc. $PANW

BAM Wealth Management LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,001 shares of the network technology company’s stock, valued at approximately $611,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PANW. Darwin Wealth Management LLC purchased a new position in shares of Palo Alto Networks during the 2nd quarter worth about $25,000. Whipplewood Advisors LLC lifted its stake in Palo Alto Networks by 6,400.0% in the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in shares of Palo Alto Networks during the second quarter valued at approximately $28,000. Howard Hughes Medical Institute bought a new position in shares of Palo Alto Networks during the second quarter valued at approximately $29,000. Finally, MTM Investment Management LLC purchased a new stake in shares of Palo Alto Networks in the second quarter worth approximately $31,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director James J. Goetz sold 12,500 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the completion of the sale, the director directly owned 75,184 shares in the company, valued at $14,685,690.72. This represents a 14.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $217.94, for a total value of $26,321,485.56. Following the sale, the executive vice president directly owned 356,409 shares in the company, valued at approximately $77,675,777.46. The trade was a 25.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 382,016 shares of company stock valued at $76,386,460. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $180.18 on Friday. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $223.61. The company has a market capitalization of $125.59 billion, a price-to-earnings ratio of 114.04, a price-to-earnings-growth ratio of 4.34 and a beta of 0.76. The company’s 50-day simple moving average is $188.56 and its two-hundred day simple moving average is $195.10.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Tigress Financial started coverage on Palo Alto Networks in a report on Friday, September 26th. They set a “buy” rating and a $245.00 price objective for the company. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a report on Thursday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of Palo Alto Networks in a research note on Thursday, November 20th. JMP Securities boosted their price objective on shares of Palo Alto Networks from $212.00 to $250.00 and gave the company a “market outperform” rating in a research report on Monday, October 27th. Finally, Wolfe Research upped their target price on shares of Palo Alto Networks from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Thirty-one investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $229.09.

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.