Horst & Graben Wealth Management LLC Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Horst & Graben Wealth Management LLC acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,485 shares of the network technology company's stock, valued at approximately $253,000.

A number of other large investors have also recently added to or reduced their stakes in PANW. Vanguard Group Inc. boosted its stake in Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Palo Alto Networks by 87.8% in the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after buying an additional 6,725,148 shares during the last quarter. Norges Bank bought a new position in shares of Palo Alto Networks in the 4th quarter worth about $970,736,000. Northern Trust Corp lifted its position in shares of Palo Alto Networks by 133.7% in the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock worth $1,427,048,000 after buying an additional 4,486,654 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Palo Alto Networks by 83.8% in the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after buying an additional 3,841,359 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $193.36, for a total value of $19,336,000.00. Following the completion of the transaction, the executive vice president directly owned 3,343,516 shares in the company, valued at $646,502,253.76. This trade represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the transaction, the executive vice president owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 547,948 shares of company stock worth $103,462,223. 2.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of recent research reports. Rosenblatt Securities restated a "buy" rating and issued a $235.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Truist Financial reduced their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price target on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Finally, HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Price Performance

Shares of PANW traded up $1.63 during mid-day trading on Wednesday, hitting $205.62. The company's stock had a trading volume of 1,467,272 shares, compared to its average volume of 5,370,823. The firm has a 50-day moving average price of $194.55 and a 200 day moving average price of $185.62. The stock has a market capitalization of $137.11 billion, a price-to-earnings ratio of 117.41, a PEG ratio of 5.62 and a beta of 0.97. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business's revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 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.