CFM Wealth Partners LLC Purchases 7,631 Shares of Palo Alto Networks, Inc. $PANW

CFM Wealth Partners LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.0% during the third quarter, Holdings Channel reports. The firm owned 77,045 shares of the network technology company’s stock after buying an additional 7,631 shares during the quarter. Palo Alto Networks makes up approximately 2.3% of CFM Wealth Partners LLC’s portfolio, making the stock its 8th largest holding. CFM Wealth Partners LLC’s holdings in Palo Alto Networks were worth $15,688,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PANW. Darwin Wealth Management LLC acquired a new position in Palo Alto Networks during the second quarter worth approximately $25,000. Whipplewood Advisors LLC increased its holdings in shares of Palo Alto Networks by 6,400.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after acquiring an additional 128 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in Palo Alto Networks in the 2nd quarter valued at $28,000. Howard Hughes Medical Institute acquired a new stake in Palo Alto Networks during the 2nd quarter valued at $29,000. Finally, MTM Investment Management LLC acquired a new stake in Palo Alto Networks during the 2nd quarter valued at $31,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PANW has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Palo Alto Networks in a research report on Thursday, November 20th. Morgan Stanley reiterated an “overweight” rating and issued a $245.00 price target (up previously from $228.00) on shares of Palo Alto Networks in a research note on Thursday, December 18th. UBS Group set a $215.00 price objective on shares of Palo Alto Networks and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. BTIG Research reaffirmed a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, December 17th. Finally, TD Cowen increased their target price on Palo Alto Networks from $230.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Thirty-one analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.09.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 800 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total value of $147,848.00. Following the completion of the transaction, the chief accounting officer directly owned 46,005 shares in the company, valued at approximately $8,502,184.05. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total transaction of $940,900.00. Following the sale, 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 disclosure for this sale is available in the SEC filing. Insiders sold 382,016 shares of company stock worth $76,386,460 in the last ninety days. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Trading Up 2.2%

NASDAQ PANW opened at $184.22 on Tuesday. The company has a market cap of $128.40 billion, a price-to-earnings ratio of 116.59, a PEG ratio of 4.29 and a beta of 0.76. The company has a 50 day moving average of $188.19 and a 200-day moving average of $194.91. 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 issued its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The business had revenue of $2.47 billion for 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 firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 earnings per share. On average, equities research analysts forecast 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.