KKM Financial LLC Acquires 3,206 Shares of Palo Alto Networks, Inc. $PANW

KKM Financial LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,006 shares of the network technology company’s stock after acquiring an additional 3,206 shares during the period. Palo Alto Networks comprises about 1.9% of KKM Financial LLC’s investment portfolio, making the stock its 9th biggest holding. KKM Financial LLC’s holdings in Palo Alto Networks were worth $6,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in PANW. Darwin Wealth Management LLC bought a new stake in shares of Palo Alto Networks in the 2nd quarter worth approximately $25,000. Howard Hughes Medical Institute acquired a new stake in Palo Alto Networks in the second quarter worth $29,000. Winch Advisory Services LLC increased its position in Palo Alto Networks by 96.1% in the third quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock worth $30,000 after buying an additional 73 shares during the period. MTM Investment Management LLC acquired a new position in shares of Palo Alto Networks during the second quarter valued at $31,000. Finally, Caitlin John LLC acquired a new stake in Palo Alto Networks in the 3rd quarter valued at approximately $31,000. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 800 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $184.81, for a total value of $147,848.00. Following the completion of the sale, the chief accounting officer directly owned 46,005 shares in the company, valued at approximately $8,502,184.05. This trade represents a 1.71% 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 company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total transaction of $940,900.00. Following the transaction, the executive vice president owned 155,119 shares in the company, valued at approximately $29,190,293.42. This trade represents a 3.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 149,252 shares of company stock worth $27,888,535. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Stock Down 0.7%

Shares of PANW opened at $167.01 on Monday. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $223.61. The company has a 50-day moving average price of $169.84 and a two-hundred day moving average price of $189.52. The stock has a market cap of $136.28 billion, a price-to-earnings ratio of 92.27, a P/E/G ratio of 6.03 and a beta of 0.78.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the subject of several analyst reports. TD Cowen restated a “buy” rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Wedbush reiterated an “outperform” rating and issued a $225.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Loop Capital lowered their target price on Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, February 18th. Barclays set a $200.00 price target on Palo Alto Networks and gave the stock an “overweight” rating in a report on Monday, February 9th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.19.

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.