Greenup Street Wealth Management LLC Lowers Position in Palo Alto Networks, Inc. $PANW

Greenup Street Wealth Management LLC decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 14.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,671 shares of the network technology company’s stock after selling 2,925 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in Palo Alto Networks were worth $3,598,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PANW. Darwin Wealth Management LLC acquired a new stake in Palo Alto Networks in the second quarter valued at approximately $25,000. Whipplewood Advisors LLC raised its stake in shares of 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 purchased a new position in shares of Palo Alto Networks during the 2nd quarter valued at approximately $28,000. Howard Hughes Medical Institute acquired a new stake in Palo Alto Networks in the 2nd quarter valued at $29,000. Finally, MTM Investment Management LLC purchased a new stake in Palo Alto Networks in the 2nd quarter worth $31,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction on Monday, December 1st. The stock was sold at an average price of $189.39, for a total value of $132,573.00. Following the sale, the chief accounting officer owned 46,805 shares in the company, valued at $8,864,398.95. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $211.92, for a total value of $25,594,426.08. Following the completion of the transaction, the executive vice president directly owned 149,190 shares in the company, valued at approximately $31,616,344.80. This trade represents a 44.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 376,922 shares of company stock worth $77,963,339. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Trading Up 0.7%

Shares of PANW stock opened at $188.45 on Friday. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61. The company’s 50-day moving average price is $199.94 and its 200-day moving average price is $197.01. The stock has a market cap of $131.35 billion, a price-to-earnings ratio of 119.27, a PEG ratio of 4.45 and a beta of 0.79.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PANW shares. TD Cowen upped their price target on shares of Palo Alto Networks from $230.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Needham & Company LLC restated a “buy” rating and issued a $230.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 20th. DA Davidson set a $240.00 target price on shares of Palo Alto Networks in a report on Friday, December 19th. 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. Finally, Evercore ISI boosted their price target on shares of Palo Alto Networks from $220.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Thirty-one analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.