Northwestern Mutual Wealth Management Co. Has $3.09 Million Position in Palo Alto Networks, Inc. $PANW

Key Points

• Northwestern Mutual Wealth Management slashed its stake in Palo Alto Networks by 96.5% in the fourth quarter, leaving it with 16,773 shares worth about $3.09 million after selling more than 466,000 shares.
• Institutional ownership remains high, with 79.82% of PANW shares held by institutions and hedge funds, while several other firms increased their positions during the period.
• Analysts remain broadly positive on Palo Alto Networks, with a consensus rating of “Moderate Buy” and an average price target of $226.33, even as the stock recently traded near its 12-month high.

Northwestern Mutual Wealth Management Co. reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 96.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,773 shares of the network technology company's stock after selling 466,238 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Palo Alto Networks were worth $3,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock worth $1,230,000 after acquiring an additional 4,031 shares in the last quarter. Bison Wealth LLC raised its holdings in Palo Alto Networks by 169.1% during the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company's stock worth $948,000 after acquiring an additional 3,275 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Palo Alto Networks by 66.3% during the second quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company's stock worth $713,000 after acquiring an additional 1,389 shares in the last quarter. Osterweis Capital Management Inc. raised its holdings in Palo Alto Networks by 11,100.0% during the second quarter. Osterweis Capital Management Inc. now owns 560 shares of the network technology company's stock worth $115,000 after acquiring an additional 555 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its holdings in Palo Alto Networks by 6.0% during the second quarter. Main Street Financial Solutions LLC now owns 4,398 shares of the network technology company's stock worth $900,000 after acquiring an additional 249 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PANW has been the topic of several analyst reports. Capital One Financial upped their target price on Palo Alto Networks from $168.00 to $248.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 19th. New Street Research dropped their target price on Palo Alto Networks from $240.00 to $220.00 and set a "buy" rating on the stock in a report on Thursday, February 19th. Citizens Jmp reiterated a "market outperform" rating and set a $250.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 18th. UBS Group set a $183.00 target price on Palo Alto Networks in a report on Thursday, February 19th. Finally, Arete Research upgraded Palo Alto Networks from a "sell" rating to a "buy" rating and set a $185.00 target price on the stock in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $226.33.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $260.58 on Tuesday. The stock's 50 day moving average price is $185.14 and its two-hundred day moving average price is $182.38. The firm has a market capitalization of $212.63 billion, a price-to-earnings ratio of 143.97, a P/E/G ratio of 9.39 and a beta of 0.77. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $261.41.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $160.42, for a total value of $802,100.00. Following the sale, the executive vice president owned 150,250 shares in the company, valued at $24,103,105. This represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Key sold 1,572 shares of the company's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total value of $272,459.04. Following the completion of the sale, the director owned 20,000 shares in the company, valued at $3,466,400. This represents a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 30,756 shares of company stock valued at $5,076,355. Company insiders own 1.40% of the company's stock.

About Palo Alto Networks

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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