CMH Wealth Management LLC Cuts Stock Position in Palo Alto Networks, Inc. $PANW

CMH Wealth Management LLC decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.9% during the second 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 comprises about 3.0% of CMH Wealth Management LLC's holdings, making the stock its 9th largest holding. CMH Wealth Management LLC's holdings in Palo Alto Networks were worth $19,497,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PANW. Solstein Capital LLC purchased a new stake in Palo Alto Networks in the second quarter worth $26,000. N.E.W. Advisory Services LLC bought a new position in Palo Alto Networks in the second quarter worth $27,000. Delos Wealth Advisors LLC purchased a new position in Palo Alto Networks during the second quarter valued at $28,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Palo Alto Networks during the 2nd quarter valued at $36,000. Finally, Kilter Group LLC bought a new stake in shares of Palo Alto Networks during the 2nd quarter valued at $39,000. Institutional investors own 79.82% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PANW shares. Wolfe Research reiterated an "outperform" rating and issued a $320.00 price target on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. FBN Securities restated an "outperform" rating on shares of Palo Alto Networks in a report on Wednesday, July 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $434.00 target price (up from $330.00) on shares of Palo Alto Networks in a research note on Friday, August 14th. Stifel Nicolaus set a $415.00 target price on shares of Palo Alto Networks and gave the company a "buy" rating in a report on Wednesday, August 19th. Finally, Argus set a $425.00 price target on Palo Alto Networks in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $370.87.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $382.13 on Tuesday. The company has a market capitalization of $311.44 billion, a price-to-earnings ratio of 313.22, a price-to-earnings-growth ratio of 11.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $398.88. The company's 50-day moving average is $346.54 and its 200 day moving average is $250.56.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $2.94 billion. Palo Alto Networks had a net margin of 7.95% and a return on equity of 10.53%. The business's revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. Sell-side analysts expect that Palo Alto Networks, Inc. will post 2.01 EPS for the current fiscal year.

Insider Activity

In related news, Director Aparna Bawa sold 290 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $348.74, for a total value of $101,134.60. Following the transaction, the director directly owned 6,437 shares of the company's stock, valued at approximately $2,244,839.38. This represents a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James J. Goetz sold 20,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $279.90, for a total value of $5,598,000.00. Following the sale, the director owned 20,000 shares in the company, valued at approximately $5,598,000. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 37,735 shares of company stock valued at $10,814,266. Company insiders own 1.40% of the company's stock.

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.

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