Retirement Guys Formula LLC Acquires New Holdings in Palo Alto Networks, Inc. $PANW

Retirement Guys Formula LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 3rd quarter, Holdings Channel reports. The fund acquired 6,122 shares of the network technology company’s stock, valued at approximately $1,247,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Palo Alto Networks in the second quarter valued at approximately $675,865,000. Kingstone Capital Partners Texas LLC bought a new position in Palo Alto Networks during the 2nd quarter worth $633,068,000. ABN AMRO Bank N.V. bought a new position in Palo Alto Networks during the 2nd quarter worth $340,883,000. Vanguard Group Inc. raised its holdings in Palo Alto Networks by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 64,016,374 shares of the network technology company’s stock valued at $13,100,311,000 after acquiring an additional 1,240,830 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Palo Alto Networks by 97.9% during the 2nd quarter. California Public Employees Retirement System now owns 2,104,939 shares of the network technology company’s stock worth $430,755,000 after purchasing an additional 1,041,145 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were 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. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $189.39, for a total transaction of $132,573.00. Following the sale, the chief accounting officer directly owned 46,805 shares in the company, valued at $8,864,398.95. The trade was a 1.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 381,222 shares of company stock valued at $78,762,727 in the last three months. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Trading Down 1.4%

Shares of NASDAQ PANW opened at $184.20 on Friday. The stock has a fifty day simple moving average of $197.70 and a two-hundred day simple moving average of $196.71. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61. The firm has a market cap of $128.39 billion, a price-to-earnings ratio of 116.58, a price-to-earnings-growth ratio of 4.39 and a beta of 0.79.

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

Wall Street Analysts Forecast Growth

PANW has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Palo Alto Networks in a research note on Monday. Mizuho set a $220.00 price target on Palo Alto Networks in a research note on Tuesday, December 16th. The Goldman Sachs Group restated a “buy” rating and set a $240.00 price objective (up previously from $236.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. Royal Bank Of Canada increased their target price on Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Finally, Wolfe Research boosted their price target on shares of Palo Alto Networks from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, December 15th. Thirty-one investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.20.

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.