Palo Alto Networks, Inc. (NASDAQ:PANW) Position Reduced by CFM Wealth Partners LLC

CFM Wealth Partners LLC reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,396 shares of the network technology company’s stock after selling 341 shares during the quarter. Palo Alto Networks comprises approximately 2.3% of CFM Wealth Partners LLC’s portfolio, making the stock its 7th biggest holding. CFM Wealth Partners LLC’s holdings in Palo Alto Networks were worth $11,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC lifted its position in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks during the first quarter worth about $25,000. First PREMIER Bank lifted its position in Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after buying an additional 31 shares during the period. Financial Synergies Wealth Advisors Inc. lifted its position in Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares during the period. Finally, Central Bank & Trust Co. lifted its position in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 0.1 %

NASDAQ:PANW opened at $374.44 on Wednesday. The company has a market cap of $121.24 billion, a PE ratio of 54.42, a P/E/G ratio of 5.26 and a beta of 1.13. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $380.84. The business’s 50 day moving average is $345.25 and its two-hundred day moving average is $321.26.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PANW shares. Wells Fargo & Company increased their target price on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. TD Cowen increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Scotiabank upped their price target on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Bank of America upped their price target on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Oppenheimer upped their price target on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $372.28.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock worth $118,643,279 in the last three months. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.