McGlone Suttner Wealth Management Inc. Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

McGlone Suttner Wealth Management Inc. purchased a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 948 shares of the network technology company’s stock, valued at approximately $280,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Worth Asset Management LLC acquired a new stake in Palo Alto Networks in the 1st quarter worth about $26,000. First Pacific Financial lifted its stake in shares of Palo Alto Networks by 421.7% in the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of Palo Alto Networks in the 2nd quarter valued at about $28,000. Fortis Capital Advisors LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter valued at about $28,000. Finally, Cedar Mountain Advisors LLC lifted its stake in shares of Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

NASDAQ:PANW traded up $1.87 during midday trading on Thursday, reaching $284.13. 3,399,301 shares of the company traded hands, compared to its average volume of 6,021,142. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84. The firm has a market capitalization of $91.80 billion, a price-to-earnings ratio of 44.40, a price-to-earnings-growth ratio of 3.91 and a beta of 1.21. The company has a fifty day moving average price of $319.37 and a 200 day moving average price of $286.07.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PANW. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Truist Financial boosted their price target on Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Barclays reduced their price target on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Finally, Citigroup boosted their price target on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

Insiders Place Their Bets

In other Palo Alto Networks news, Director John Donovan sold 20,136 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $288.57, for a total transaction of $5,810,645.52. Following the completion of the transaction, the director now owns 43,352 shares in the company, valued at approximately $12,510,086.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the sale, the executive vice president now owns 198,105 shares in the company, valued at $56,327,194.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Donovan sold 20,136 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $288.57, for a total value of $5,810,645.52. Following the completion of the sale, the director now owns 43,352 shares of the company’s stock, valued at approximately $12,510,086.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,153 shares of company stock worth $44,107,332. 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.