Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Position Raised by Peterson Wealth Management

Peterson Wealth Management lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,817 shares of the network technology company’s stock after buying an additional 149 shares during the period. Palo Alto Networks accounts for approximately 2.1% of Peterson Wealth Management’s holdings, making the stock its 19th biggest position. Peterson Wealth Management’s holdings in Palo Alto Networks were worth $3,328,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Horizon Family Wealth Inc. lifted its position in shares of Palo Alto Networks by 1.1% in the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after acquiring an additional 28 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of Palo Alto Networks by 17.2% in the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after acquiring an additional 30 shares in the last quarter. Cascade Investment Group Inc. lifted its position in shares of Palo Alto Networks by 2.9% in the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after acquiring an additional 31 shares in the last quarter. Sepio Capital LP lifted its position in shares of Palo Alto Networks by 3.7% in the 4th quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock valued at $278,000 after acquiring an additional 34 shares in the last quarter. Finally, Sheets Smith Wealth Management lifted its position in Palo Alto Networks by 2.4% in the 1st quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after buying an additional 34 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $343.74 on Friday. The company has a 50-day moving average of $335.88 and a 200-day moving average of $310.69. The company has a market capitalization of $111.30 billion, a price-to-earnings ratio of 49.96, a PEG ratio of 5.29 and a beta of 1.13. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PANW shares. Robert W. Baird increased their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Scotiabank increased their target price on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Truist Financial increased their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. BMO Capital Markets increased their price target on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities increased their price target on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $366.08.

Insider Activity at Palo Alto Networks

In related news, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the transaction, the director now directly owns 12,639 shares of the company’s stock, valued at approximately $3,860,076.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the transaction, the director now directly owns 12,639 shares of the company’s stock, valued at approximately $3,860,076.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The disclosure for this sale can be found here. Insiders sold 339,572 shares of company stock valued at $111,126,265 in the last ninety days. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.