Proactive Wealth Strategies LLC Grows Stock Holdings in Palo Alto Networks, Inc. $PANW

Proactive Wealth Strategies LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 20.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,670 shares of the network technology company’s stock after purchasing an additional 4,478 shares during the quarter. Palo Alto Networks accounts for about 2.3% of Proactive Wealth Strategies LLC’s portfolio, making the stock its 5th largest holding. Proactive Wealth Strategies LLC’s holdings in Palo Alto Networks were worth $5,431,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new position in shares of Palo Alto Networks in the 2nd quarter valued at $25,000. Whipplewood Advisors LLC boosted its position in Palo Alto Networks by 6,400.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after buying an additional 128 shares during the period. Briaud Financial Planning Inc bought a new stake in shares of Palo Alto Networks in the second quarter worth $28,000. Howard Hughes Medical Institute bought a new stake in shares of Palo Alto Networks in the 2nd quarter valued at about $29,000. Finally, MTM Investment Management LLC bought a new stake in Palo Alto Networks in the second quarter valued at approximately $31,000. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PANW. Weiss Ratings reiterated a “hold (c)” rating on shares of Palo Alto Networks in a report on Monday, December 29th. 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 report on Monday, December 15th. TD Cowen raised their price objective on Palo Alto Networks from $230.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Evercore upped their target price on Palo Alto Networks from $220.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Finally, Wedbush restated an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 20th. Thirty-one investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.09.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $184.81, for a total transaction of $147,848.00. Following the completion of the sale, the chief accounting officer owned 46,005 shares of the company’s stock, valued at approximately $8,502,184.05. The trade was a 1.71% 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 shares were sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the sale, the director owned 75,184 shares in the company, valued at $14,685,690.72. The trade was a 14.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 260,542 shares of company stock worth $49,910,995 over the last quarter. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

PANW stock opened at $159.32 on Monday. The firm has a market cap of $111.05 billion, a P/E ratio of 100.84, a P/E/G ratio of 3.80 and a beta of 0.75. The firm’s fifty day moving average is $185.05 and its 200 day moving average is $193.44. Palo Alto Networks, Inc. has a 52 week low of $144.15 and a 52 week high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the company earned $1.56 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.