Turtle Creek Wealth Advisors LLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 92.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,977 shares of the network technology company’s stock after purchasing an additional 2,870 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $958,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of PANW. Norges Bank purchased a new position in shares of Palo Alto Networks in the fourth quarter worth $1,415,364,000. Vanguard Group Inc. boosted its position in shares of Palo Alto Networks by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 67,929,063 shares of the network technology company’s stock valued at $12,512,533,000 after buying an additional 2,659,100 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Palo Alto Networks by 11.9% during the fourth quarter. Bank of America Corp DE now owns 19,375,486 shares of the network technology company’s stock valued at $3,568,964,000 after buying an additional 2,065,776 shares during the last quarter. Employees Provident Fund Board bought a new stake in Palo Alto Networks in the 4th quarter worth about $281,542,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Palo Alto Networks in the 4th quarter worth about $164,968,000. Institutional investors own 79.82% of the company’s stock.
Insider Buying and Selling
In other Palo Alto Networks news, Director John P. Key sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $279.24, for a total transaction of $2,094,300.00. Following the completion of the sale, the director directly owned 12,500 shares of the company’s stock, valued at approximately $3,490,500. This represents a 37.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James J. Goetz sold 20,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $279.90, for a total transaction of $5,598,000.00. Following the completion of the transaction, the director owned 20,000 shares in the company, valued at $5,598,000. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 102,111 shares of company stock valued at $27,204,024 in the last 90 days. 1.40% of the stock is owned by insiders.
Palo Alto Networks Price Performance
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Palo Alto Networks had a return on equity of 10.53% and a net margin of 7.95%.The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the company posted $0.37 EPS. The business’s quarterly revenue was up 31.1% compared to the same quarter last year. Palo Alto Networks has set its FY 2026 guidance at 3.770-3.790 EPS and its Q4 2026 guidance at 0.960-0.980 EPS. As a group, analysts forecast that Palo Alto Networks, Inc. will post 2.03 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Mizuho upped their target price on shares of Palo Alto Networks from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Citigroup reiterated a “market outperform” rating on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. Piper Sandler reissued an “overweight” rating and set a $345.00 price objective (up from $265.00) on shares of Palo Alto Networks in a report on Wednesday, June 3rd. Truist Financial boosted their price objective on shares of Palo Alto Networks from $275.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Scotiabank restated a “sector outperform” rating and set a $320.00 price objective (up from $180.00) on shares of Palo Alto Networks in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.15.
Get Our Latest Stock Report on Palo Alto Networks
Palo Alto Networks Company 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.
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