CFM Wealth Partners LLC Sells 3,602 Shares of Palo Alto Networks, Inc. $PANW

CFM Wealth Partners LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,443 shares of the network technology company’s stock after selling 3,602 shares during the period. Palo Alto Networks accounts for 2.0% of CFM Wealth Partners LLC’s holdings, making the stock its 11th biggest position. CFM Wealth Partners LLC’s holdings in Palo Alto Networks were worth $13,528,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in shares of Palo Alto Networks during the 2nd quarter worth approximately $25,000. Steph & Co. raised its stake in shares of Palo Alto Networks by 88.2% during the 4th quarter. Steph & Co. now owns 143 shares of the network technology company’s stock worth $26,000 after purchasing an additional 67 shares in the last quarter. Winch Advisory Services LLC raised its stake in shares of Palo Alto Networks by 96.1% during the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock worth $30,000 after purchasing an additional 73 shares in the last quarter. Caitlin John LLC bought a new stake in shares of Palo Alto Networks during the 3rd quarter worth approximately $31,000. Finally, Painted Porch Advisors LLC raised its stake in shares of Palo Alto Networks by 72.7% during the 3rd quarter. Painted Porch Advisors LLC now owns 152 shares of the network technology company’s stock worth $31,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 1.0%

PANW opened at $169.56 on Tuesday. Palo Alto Networks, Inc. has a 1-year low of $139.57 and a 1-year high of $223.61. The stock’s fifty day simple moving average is $160.69 and its 200 day simple moving average is $182.83. The stock has a market cap of $138.36 billion, a PE ratio of 93.68, a price-to-earnings-growth ratio of 6.05 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities analysts forecast that Palo Alto Networks, Inc. will post 2.14 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,100 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total value of $177,540.00. Following the transaction, the chief accounting officer directly owned 83,136 shares of the company’s stock, valued at $13,418,150.40. This represents a 1.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John P. Key sold 1,572 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total value of $272,459.04. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at approximately $3,466,400. This represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 30,356 shares of company stock worth $4,981,575. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PANW shares. Benchmark started coverage on Palo Alto Networks in a research note on Wednesday, April 1st. They set a “buy” rating and a $200.00 price objective on the stock. Truist Financial set a $200.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Guggenheim reiterated a “neutral” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Finally, Piper Sandler restated an “overweight” rating and issued a $265.00 price target (up from $230.00) on shares of Palo Alto Networks in a research note on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $209.95.

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.