KKM Financial LLC Has $6.11 Million Holdings in Palo Alto Networks, Inc. $PANW

KKM Financial LLC lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,006 shares of the network technology company’s stock after purchasing an additional 3,206 shares during the quarter. Palo Alto Networks comprises approximately 1.9% of KKM Financial LLC’s holdings, making the stock its 9th largest position. KKM Financial LLC’s holdings in Palo Alto Networks were worth $6,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Palo Alto Networks in the 2nd quarter worth about $675,865,000. ABN AMRO Bank N.V. bought a new position in shares of Palo Alto Networks during the second quarter valued at approximately $340,883,000. Victory Capital Management Inc. boosted its holdings in Palo Alto Networks by 108.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,467,692 shares of the network technology company’s stock valued at $502,263,000 after acquiring an additional 1,282,738 shares during the period. Vanguard Group Inc. grew its position in Palo Alto Networks by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 65,269,963 shares of the network technology company’s stock valued at $13,290,270,000 after acquiring an additional 1,253,589 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Palo Alto Networks by 97.9% in the second quarter. California Public Employees Retirement System now owns 2,104,939 shares of the network technology company’s stock worth $430,755,000 after purchasing an additional 1,041,145 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $167.01 on Monday. The firm has a market cap of $136.28 billion, a price-to-earnings ratio of 92.27, a PEG ratio of 6.03 and a beta of 0.78. The firm has a 50 day simple moving average of $169.84 and a 200-day simple moving average of $189.52. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly 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. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.58 billion. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.Palo Alto Networks’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, Director James J. Goetz sold 22,684 shares of Palo Alto Networks stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $164.41, for a total value of $3,729,476.44. Following the transaction, the director directly owned 52,500 shares of the company’s stock, valued at $8,631,525. The trade was a 30.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Josh D. Paul sold 800 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total transaction of $147,848.00. Following the transaction, the chief accounting officer owned 46,005 shares in the company, valued at $8,502,184.05. This trade represents a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 149,252 shares of company stock valued at $27,888,535. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

PANW has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Palo Alto Networks in a research report on Monday, December 29th. Robert W. Baird set a $220.00 price target on shares of Palo Alto Networks and gave the company an “outperform” rating in a research note on Wednesday, February 18th. TD Cowen reaffirmed a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Sanford C. Bernstein set a $209.00 target price on Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $210.19.

Palo Alto Networks Profile

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.