Palo Alto Networks, Inc. $PANW is CMH Wealth Management LLC’s 9th Largest Position

CMH Wealth Management LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 57,173 shares of the network technology company’s stock after selling 2,949 shares during the period. Palo Alto Networks makes up approximately 3.0% of CMH Wealth Management LLC’s holdings, making the stock its 9th biggest position. CMH Wealth Management LLC’s holdings in Palo Alto Networks were worth $19,497,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Darwin Wealth Management LLC purchased a new position in shares of Palo Alto Networks during the second quarter valued at approximately $25,000. Knuff & Co LLC purchased a new stake in Palo Alto Networks in the fourth quarter worth approximately $26,000. Solstein Capital LLC bought a new stake in Palo Alto Networks in the 2nd quarter worth approximately $26,000. Sittner & Nelson LLC grew its position in Palo Alto Networks by 73.8% in the 4th quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 62 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in Palo Alto Networks during the 2nd quarter valued at $27,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 2.8%

Shares of PANW stock opened at $382.13 on Tuesday. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $398.88. The firm has a fifty day moving average price of $346.54 and a 200-day moving average price of $250.56. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $311.44 billion, a price-to-earnings ratio of 313.22, a PEG ratio of 11.74 and a beta of 0.91.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, June 2nd. The network technology company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Palo Alto Networks had a return on equity of 10.53% and a net margin of 7.95%.Palo Alto Networks’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 2.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PANW shares. Capital One Financial set a $421.00 price target on Palo Alto Networks and gave the company an “overweight” rating in a report on Thursday, July 16th. FBN Securities reaffirmed an “outperform” rating on shares of Palo Alto Networks in a report on Wednesday, July 1st. Stifel Nicolaus set a $415.00 price objective on Palo Alto Networks and gave the company a “buy” rating in a research report on Wednesday, August 19th. Tigress Financial increased their target price on Palo Alto Networks from $245.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Finally, Wedbush raised their target price on Palo Alto Networks from $300.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, forty have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $370.87.

Insiders Place Their Bets

In other news, Director Helle Thorning-Schmidt sold 700 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $346.85, for a total value of $242,795.00. Following the transaction, the director owned 5,898 shares of the company’s stock, valued at $2,045,721.30. This trade represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aparna Bawa sold 290 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $348.74, for a total value of $101,134.60. Following the transaction, the director owned 6,437 shares of the company’s stock, valued at approximately $2,244,839.38. This trade represents a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 37,735 shares of company stock valued at $10,814,266. 1.40% of the stock is currently owned by corporate insiders.

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.