Proactive Wealth Strategies LLC Increases Stake in Palo Alto Networks, Inc. $PANW

Proactive Wealth Strategies LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 20.2% during the third quarter, according to the company in its most recent disclosure 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 comprises about 2.3% of Proactive Wealth Strategies LLC’s investment portfolio, making the stock its 5th largest position. Proactive Wealth Strategies LLC’s holdings in Palo Alto Networks were worth $5,431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its position in Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after acquiring an additional 4,031 shares in the last quarter. Bison Wealth LLC lifted its stake in shares of Palo Alto Networks by 169.1% in the 4th quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after purchasing an additional 3,275 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Palo Alto Networks by 66.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock worth $713,000 after purchasing an additional 1,389 shares during the period. Blue Trust Inc. increased its position in shares of Palo Alto Networks by 13.3% during the 2nd quarter. Blue Trust Inc. now owns 4,416 shares of the network technology company’s stock valued at $904,000 after purchasing an additional 519 shares during the last quarter. Finally, PDS Planning Inc increased its position in shares of Palo Alto Networks by 3.8% during the 2nd quarter. PDS Planning Inc now owns 3,226 shares of the network technology company’s stock valued at $660,000 after purchasing an additional 119 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on PANW. Rosenblatt Securities lifted their price objective on shares of Palo Alto Networks from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Wolfe Research upped their price target on shares of Palo Alto Networks from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Piper Sandler reissued an “overweight” rating and issued a $265.00 price objective (up from $230.00) on shares of Palo Alto Networks in a research report on Monday, January 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of Palo Alto Networks in a research note on Monday, November 24th. Finally, TD Cowen upped their target price 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. Thirty-one analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $229.09.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total value of $940,900.00. Following the completion of the transaction, the executive vice president directly owned 155,119 shares of the company’s stock, valued at approximately $29,190,293.42. The trade was a 3.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 800 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $184.81, for a total value of $147,848.00. Following the sale, the chief accounting officer owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This trade represents a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 260,542 shares of company stock valued at $49,910,995. 1.40% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 2.9%

Shares of NASDAQ PANW opened at $159.32 on Monday. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61. The firm has a market cap of $111.05 billion, a PE ratio of 100.84, a price-to-earnings-growth ratio of 3.80 and a beta of 0.75. The business has a fifty day simple moving average of $185.05 and a two-hundred day simple moving average of $193.44.

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 for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 earnings per share. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Palo Alto Networks Company 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.