CMH Wealth Management LLC Sells 527 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

CMH Wealth Management LLC lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 49,838 shares of the network technology company’s stock after selling 527 shares during the quarter. Palo Alto Networks accounts for 2.1% of CMH Wealth Management LLC’s holdings, making the stock its 20th biggest position. CMH Wealth Management LLC’s holdings in Palo Alto Networks were worth $8,504,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of 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 worth $11,142,122,000 after buying an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Palo Alto Networks by 87.8% during 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 in the last quarter. Capital Research Global Investors lifted its stake in Palo Alto Networks by 83.8% in the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock valued at $1,533,419,000 after purchasing an additional 3,841,359 shares during the last quarter. Northern Trust Corp lifted its stake in Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock valued at $1,427,048,000 after purchasing an additional 4,486,654 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Palo Alto Networks by 17.6% in the fourth quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company’s stock valued at $1,324,387,000 after purchasing an additional 1,088,631 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $199.60 on Monday. The firm has a fifty day moving average of $180.48 and a 200 day moving average of $184.92. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The firm has a market capitalization of $133.09 billion, a PE ratio of 112.45, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97.

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

Analyst Upgrades and Downgrades

PANW has been the topic of several research analyst reports. Hsbc Global Res upgraded Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Guggenheim reiterated a “sell” rating and issued a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. TD Securities reissued a “buy” rating and set a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Jefferies Financial Group boosted their target price on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Truist Financial lowered their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.00.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. This represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the company’s 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 sale, the chief executive officer now owns 317,571 shares of the company’s stock, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock worth $139,837,528 over the last three months. Company insiders own 2.50% of the company’s stock.

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.