IronOak Wealth LLC. Invests $2.56 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

IronOak Wealth LLC. purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,079 shares of the network technology company's stock, valued at approximately $2,562,000. Palo Alto Networks accounts for approximately 2.9% of IronOak Wealth LLC.'s investment portfolio, making the stock its 10th biggest holding.

Several other institutional investors have also made changes to their positions in PANW. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks during the 4th quarter valued at about $25,000. Strategic Investment Solutions Inc. IL raised its position in 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 valued at $26,000 after acquiring an additional 55 shares in the last quarter. Valued Wealth Advisors LLC raised its position in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after acquiring an additional 101 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after acquiring an additional 106 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. grew its position in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the sale, the executive vice president now owns 321,774 shares of the company's stock, valued at approximately $48,629,704.62. This represents a 27.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the transaction, the chief executive officer now directly owns 317,571 shares of the company's stock, valued at $54,854,038.83. This represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 568,962 shares of company stock worth $96,933,690 over the last three months. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Trading Up 2.7%

NASDAQ:PANW traded up $4.96 during mid-day trading on Friday, hitting $190.78. The company's stock had a trading volume of 11,416,203 shares, compared to its average volume of 5,610,563. The company has a market capitalization of $127.21 billion, a price-to-earnings ratio of 107.48, a P/E/G ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The stock has a fifty day moving average of $178.29 and a 200-day moving average of $185.13.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Palo Alto Networks's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the topic of a number of recent research reports. Rosenblatt Securities restated a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Truist Financial cut their target price on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. UBS Group upped their price target on Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Two research 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. Based on data from MarketBeat, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus price target of $208.00.

About Palo Alto Networks

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.