RMR Wealth Builders Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

RMR Wealth Builders grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,212 shares of the network technology company’s stock after purchasing an additional 134 shares during the period. RMR Wealth Builders’ holdings in Palo Alto Networks were worth $652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Palo Alto Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock worth $6,215,410,000 after acquiring an additional 304,272 shares during the last quarter. Northern Trust Corp increased its position in shares of Palo Alto Networks by 2.6% in the third quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock worth $804,199,000 after purchasing an additional 86,995 shares during the last quarter. Jennison Associates LLC raised its stake in Palo Alto Networks by 83.1% in the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after purchasing an additional 1,187,915 shares in the last quarter. International Assets Investment Management LLC grew its stake in Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after buying an additional 2,050,917 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Palo Alto Networks by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,746,971 shares of the network technology company’s stock worth $515,147,000 after buying an additional 84,151 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares in the company, valued at $46,659,063. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the sale, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. Insiders sold 280,193 shares of company stock valued at $80,670,132 over the last quarter. 3.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on PANW. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. KeyCorp dropped their target price on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Loop Capital cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research report on Wednesday, February 21st. Barclays lowered their price objective on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Finally, Truist Financial increased their target price on shares of Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Eleven analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Stock Performance

Shares of PANW traded down $2.51 during trading hours on Wednesday, hitting $303.01. The stock had a trading volume of 3,106,097 shares, compared to its average volume of 5,233,852. The firm has a 50-day moving average price of $285.75 and a 200 day moving average price of $294.47. Palo Alto Networks, Inc. has a fifty-two week low of $186.75 and a fifty-two week high of $380.84. The firm has a market capitalization of $97.90 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 4.03 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. As a group, analysts predict that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

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.