Millington Financial Advisors LLC Takes $2.35 Million Position in Palo Alto Networks, Inc. $PANW

Millington Financial Advisors LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,996 shares of the network technology company’s stock, valued at approximately $2,345,000.

A number of other large investors have also recently added to or reduced their stakes in PANW. Brighton Jones LLC grew its stake in Palo Alto Networks by 147.7% in the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock valued at $1,230,000 after buying an additional 4,031 shares during the last quarter. Bison Wealth LLC grew its position in shares of Palo Alto Networks by 169.1% in the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after purchasing an additional 3,275 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Palo Alto Networks by 66.3% in the second quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock valued at $713,000 after purchasing an additional 1,389 shares during the last quarter. Canopy Partners LLC increased its stake in shares of Palo Alto Networks by 31.1% in the second quarter. Canopy Partners LLC now owns 2,194 shares of the network technology company’s stock worth $449,000 after purchasing an additional 520 shares during the period. Finally, U.S. Capital Wealth Advisors LLC lifted its position in shares of Palo Alto Networks by 19.5% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 4,147 shares of the network technology company’s stock worth $849,000 after purchasing an additional 677 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Tigress Financial initiated coverage on Palo Alto Networks in a report on Friday, September 26th. They issued a “buy” rating and a $245.00 target price on the stock. Northland Securities raised their price objective on shares of Palo Alto Networks from $177.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 20th. Mizuho set a $220.00 target price on shares of Palo Alto Networks in a research report on Tuesday, December 16th. Morgan Stanley reissued an “overweight” rating and issued a $245.00 price target (up from $228.00) on shares of Palo Alto Networks in a report on Thursday, December 18th. Finally, TD Cowen raised 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. Thirty-one analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.09.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $181.47 on Thursday. The firm has a market cap of $126.48 billion, a price-to-earnings ratio of 114.85, a P/E/G ratio of 4.39 and a beta of 0.76. The stock’s fifty day simple moving average is $189.51 and its 200 day simple moving average is $195.34. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last released 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. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the business earned $1.56 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $188.18, for a total transaction of $940,900.00. Following the transaction, the executive vice president owned 155,119 shares in the company, valued at $29,190,293.42. This represents a 3.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 800 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $184.81, for a total transaction of $147,848.00. Following the completion of the sale, the chief accounting officer owned 46,005 shares of the company’s stock, valued at $8,502,184.05. The trade was a 1.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 382,016 shares of company stock valued at $76,386,460. 1.40% of the stock is owned by corporate insiders.

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.