McDonough Capital Management Inc Boosts Stock Position in Palo Alto Networks, Inc. $PANW

McDonough Capital Management Inc boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,801 shares of the network technology company’s stock after purchasing an additional 248 shares during the quarter. Palo Alto Networks makes up approximately 0.3% of McDonough Capital Management Inc’s investment portfolio, making the stock its 28th largest holding. McDonough Capital Management Inc’s holdings in Palo Alto Networks were worth $778,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Palo Alto Networks in the 1st quarter valued at about $261,000. Strive Asset Management LLC increased its stake in Palo Alto Networks by 16.6% during the 1st quarter. Strive Asset Management LLC now owns 2,099 shares of the network technology company’s stock worth $358,000 after buying an additional 299 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Palo Alto Networks by 25.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 205,053 shares of the network technology company’s stock valued at $41,957,000 after acquiring an additional 41,392 shares in the last quarter. Whipplewood Advisors LLC lifted its position in shares of 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 valued at $27,000 after acquiring an additional 128 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in shares of Palo Alto Networks by 9.2% in the second quarter. Arkadios Wealth Advisors now owns 39,893 shares of the network technology company’s stock worth $8,164,000 after acquiring an additional 3,351 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on PANW shares. Weiss Ratings reissued a “hold (c)” rating on shares of Palo Alto Networks in a research note on Thursday. Barclays increased their target price on shares of Palo Alto Networks from $215.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. BMO Capital Markets raised their price target on shares of Palo Alto Networks from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday. Truist Financial set a $220.00 price objective on shares of Palo Alto Networks and gave the company a “buy” rating in a research note on Tuesday, August 19th. Finally, Sanford C. Bernstein set a $207.00 price objective on shares of Palo Alto Networks and gave the company an “outperform” rating in a report on Tuesday, August 19th. Twenty-nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $223.24.

Insiders Place Their Bets

In related news, CEO Nikesh Arora sold 846,408 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $204.06, for a total value of $172,718,016.48. Following the transaction, the chief executive officer directly owned 275,013 shares in the company, valued at approximately $56,119,152.78. This represents a 75.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $219.97, for a total value of $153,979.00. Following the sale, the chief accounting officer directly owned 47,505 shares of the company’s stock, valued at approximately $10,449,674.85. This trade represents a 1.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,215,830 shares of company stock valued at $249,160,428. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Trading Down 1.1%

Palo Alto Networks stock opened at $202.90 on Tuesday. The company has a 50-day moving average price of $209.18 and a 200 day moving average price of $197.32. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $223.61. The stock has a market cap of $138.78 billion, a P/E ratio of 126.42, a PEG ratio of 4.88 and a beta of 0.95.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 18th. The network technology company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Palo Alto Networks had a net margin of 12.30% and a return on equity of 17.66%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. As a group, analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Palo Alto Networks Company 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.