MinichMacGregor Wealth Management LLC Purchases 18,569 Shares of Palo Alto Networks, Inc. $PANW

MinichMacGregor Wealth Management LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 73.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,957 shares of the network technology company’s stock after buying an additional 18,569 shares during the period. Palo Alto Networks accounts for approximately 1.7% of MinichMacGregor Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position. MinichMacGregor Wealth Management LLC’s holdings in Palo Alto Networks were worth $8,963,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Klingman & Associates LLC raised its holdings in shares of Palo Alto Networks by 2.2% in the 3rd quarter. Klingman & Associates LLC now owns 2,131 shares of the network technology company’s stock valued at $434,000 after purchasing an additional 46 shares during the period. Contravisory Investment Management Inc. lifted its position in shares of Palo Alto Networks by 1.8% in the third quarter. Contravisory Investment Management Inc. now owns 2,742 shares of the network technology company’s stock valued at $558,000 after buying an additional 48 shares during the last quarter. Mattern Wealth Management LLC boosted its stake in shares of Palo Alto Networks by 2.9% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,692 shares of the network technology company’s stock worth $345,000 after acquiring an additional 48 shares during the period. Astoria Portfolio Advisors LLC. increased its holdings in shares of Palo Alto Networks by 2.1% during the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 2,467 shares of the network technology company’s stock worth $496,000 after acquiring an additional 50 shares during the last quarter. Finally, PTM Wealth Management LLC raised its stake in Palo Alto Networks by 4.0% in the 3rd quarter. PTM Wealth Management LLC now owns 1,300 shares of the network technology company’s stock valued at $276,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on PANW shares. Northland Securities upped their price objective on shares of Palo Alto Networks from $177.00 to $190.00 and gave the company a “market perform” rating in a report on Thursday, November 20th. BMO Capital Markets increased their price target on shares of Palo Alto Networks from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Wolfe Research upped their target price on Palo Alto Networks from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. TD Cowen lifted their price target on Palo Alto Networks from $230.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, UBS Group set a $215.00 price objective on Palo Alto Networks and gave the company a “neutral” rating in a report on Tuesday. Thirty-one analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.09.

Insider Buying and Selling

In other Palo Alto Networks news, Director James J. Goetz sold 12,500 shares of Palo Alto Networks stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the transaction, the director directly owned 75,184 shares of the company’s stock, valued at approximately $14,685,690.72. The trade was a 14.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $217.94, for a total value of $26,321,485.56. Following the transaction, the executive vice president owned 356,409 shares of the company’s stock, valued at $77,675,777.46. This trade represents a 25.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 382,016 shares of company stock valued at $76,386,460 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Down 0.0%

Shares of Palo Alto Networks stock opened at $187.66 on Friday. The firm has a market capitalization of $130.80 billion, a PE ratio of 118.77, a price-to-earnings-growth ratio of 4.47 and a beta of 0.76. The firm’s 50 day moving average is $191.35 and its 200 day moving average is $195.68. Palo Alto Networks, Inc. has a 1 year low of $144.15 and a 1 year high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the company earned $1.56 earnings per share. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.