Millington Financial Advisors LLC Takes $2.35 Million Position in Palo Alto Networks, Inc. $PANW

Millington Financial Advisors LLC acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,996 shares of the network technology company’s stock, valued at approximately $2,345,000.

Other hedge funds have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new stake in Palo Alto Networks in the 2nd quarter valued at approximately $25,000. Whipplewood Advisors LLC grew its stake in shares of Palo Alto Networks by 6,400.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Briaud Financial Planning Inc bought a new position in shares of Palo Alto Networks in the second quarter valued at $28,000. Howard Hughes Medical Institute purchased a new stake in shares of Palo Alto Networks during the second quarter valued at $29,000. Finally, MTM Investment Management LLC acquired a new position in shares of Palo Alto Networks in the 2nd quarter valued at $31,000. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, Director James J. Goetz sold 12,500 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the transaction, the director owned 75,184 shares in the company, valued at $14,685,690.72. This represents a 14.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $188.18, for a total transaction of $940,900.00. Following the completion of the sale, the executive vice president directly owned 155,119 shares of the company’s stock, valued at approximately $29,190,293.42. The trade was a 3.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 382,016 shares of company stock worth $76,386,460 in the last ninety days. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of several recent analyst reports. BTIG Research restated a “buy” rating on shares of Palo Alto Networks in a report on Wednesday, December 17th. HSBC downgraded shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and set a $157.00 price target for the company. in a research report on Thursday, November 20th. Bank of America raised their price objective on shares of Palo Alto Networks from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Stephens boosted their target price on shares of Palo Alto Networks from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, November 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $265.00 target price (up previously from $230.00) on shares of Palo Alto Networks in a research report on Monday, January 5th. Thirty-one research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $229.09.

Palo Alto Networks Trading Down 1.4%

NASDAQ PANW opened at $181.47 on Thursday. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61. The firm’s fifty day simple moving average is $189.51 and its 200-day simple moving average is $195.34. The company has a market capitalization of $126.48 billion, a PE ratio of 114.85, a price-to-earnings-growth ratio of 4.39 and a beta of 0.76.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.