RMR Wealth Builders Has $2.51 Million Position in Palo Alto Networks, Inc. $PANW

RMR Wealth Builders raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 195.4% in the third quarter, HoldingsChannel.com reports. The firm owned 12,334 shares of the network technology company’s stock after buying an additional 8,159 shares during the period. RMR Wealth Builders’ holdings in Palo Alto Networks were worth $2,511,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of 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 worth $1,230,000 after acquiring an additional 4,031 shares during the last quarter. Bison Wealth LLC boosted its stake in Palo Alto Networks by 169.1% during the 4th 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 increased its holdings in Palo Alto Networks by 66.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock worth $713,000 after purchasing an additional 1,389 shares in the last quarter. Canopy Partners LLC raised 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 last quarter. Finally, Simplicity Wealth LLC raised its stake in shares of Palo Alto Networks by 96.0% in the second quarter. Simplicity Wealth LLC now owns 2,572 shares of the network technology company’s stock worth $526,000 after purchasing an additional 1,260 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

PANW has been the subject of several recent research reports. Bank of America upped their price target on Palo Alto Networks from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, October 20th. UBS Group set a $215.00 price objective on shares of Palo Alto Networks and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Wolfe Research upped their target price on shares of Palo Alto Networks from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Hsbc Global Res lowered shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Thursday, November 20th. 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 report on Thursday, November 13th. Thirty-one research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $229.09.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 800 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $184.81, for a total value of $147,848.00. Following the transaction, the chief accounting officer owned 46,005 shares in the company, valued at approximately $8,502,184.05. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James J. Goetz sold 12,500 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $195.33, for a total value of $2,441,625.00. Following the completion of the sale, the director directly owned 75,184 shares of the company’s stock, valued at $14,685,690.72. This represents a 14.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 260,542 shares of company stock worth $49,910,995. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $166.72 on Thursday. The company has a market capitalization of $116.20 billion, a P/E ratio of 105.52, a price-to-earnings-growth ratio of 3.97 and a beta of 0.75. The company’s 50-day moving average is $186.28 and its 200 day moving average is $194.06. Palo Alto Networks, Inc. has a fifty-two week low of $144.15 and a fifty-two week high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 earnings per share. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Palo Alto Networks 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.