BXM Wealth LLC Makes New $215,000 Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

BXM Wealth LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,260 shares of the network technology company's stock, valued at approximately $215,000.

Several other hedge funds also recently made changes to their positions in the company. Transce3nd LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL raised its position in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after purchasing an additional 55 shares during the period. Anchor Investment Management LLC raised its position in shares of Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares during the period. Kiely Wealth Advisory Group Inc. grew its holdings in shares of Palo Alto Networks by 100.0% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after buying an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in shares of Palo Alto Networks during the fourth quarter valued at $29,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PANW shares. Guggenheim restated a "sell" rating and issued a $130.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price on the stock in a research note on Thursday, April 10th. Northland Securities decreased their price target on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research note on Wednesday, May 21st. Truist Financial decreased their price target on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Jefferies Financial Group upped their price target on Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Trading Up 0.3%

Shares of NASDAQ:PANW traded up $0.63 during midday trading on Wednesday, hitting $204.62. The company had a trading volume of 1,004,353 shares, compared to its average volume of 5,369,022. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The stock has a market cap of $136.44 billion, a price-to-earnings ratio of 116.98, a PEG ratio of 5.62 and a beta of 0.97. The firm has a fifty day simple moving average of $194.55 and a 200 day simple moving average of $185.62.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The business 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 firm's revenue was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. Equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the sale, the executive vice president directly owned 264,246 shares in the company, valued at $51,564,964.44. The trade was a 31.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the sale, the executive vice president owned 101,135 shares in the company, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 547,948 shares of company stock valued at $103,462,223. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks 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.