MOKAN Wealth Management Inc. Makes New $210,000 Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

MOKAN Wealth Management Inc. bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,227 shares of the network technology company’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after purchasing an additional 6,725,148 shares in the last quarter. Norges Bank purchased a new stake in shares of Palo Alto Networks in the fourth quarter valued at $970,736,000. Northern Trust Corp boosted its position in shares of Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock worth $1,427,048,000 after buying an additional 4,486,654 shares during the period. Finally, Capital Research Global Investors raised its position in Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock valued at $1,533,419,000 after buying an additional 3,841,359 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the sale, the executive vice president now owns 101,135 shares in the company, valued at $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 800 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $201.05, for a total value of $160,840.00. Following the completion of the sale, the chief accounting officer now directly owns 42,033 shares of the company’s stock, valued at approximately $8,450,734.65. The trade was a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 795,536 shares of company stock valued at $141,007,618 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Down 0.8%

Shares of PANW opened at $201.69 on Wednesday. The stock has a market cap of $134.49 billion, a P/E ratio of 115.25, a price-to-earnings-growth ratio of 5.67 and a beta of 0.97. The stock’s 50-day moving average price is $188.66 and its two-hundred day moving average price is $185.20. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

PANW has been the topic of several research reports. KeyCorp reiterated an “overweight” rating and issued a $220.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $223.00 price objective on shares of Palo Alto Networks in a research report on Monday, May 19th. Sanford C. Bernstein set a $225.00 price target on Palo Alto Networks and gave the company an “outperform” rating in a research note on Wednesday, May 21st. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 target price for the company in a research note on Thursday, April 10th. Finally, Guggenheim restated a “sell” rating and set a $130.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

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.