Roberts Glore & Co. Inc. IL acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,821 shares of the network technology company’s stock, valued at approximately $962,000.
Several other large investors have also recently added to or reduced their stakes in PANW. BlackRock Inc. purchased a new position in Palo Alto Networks in the 2nd quarter valued at approximately $25,833,462,000. State Street Corp grew its stake in shares of Palo Alto Networks by 2.0% in the fourth quarter. State Street Corp now owns 30,331,705 shares of the network technology company’s stock worth $5,587,100,000 after acquiring an additional 594,789 shares in the last quarter. Bank of America Corp DE increased its position in shares of Palo Alto Networks by 16.0% during the first quarter. Bank of America Corp DE now owns 22,476,753 shares of the network technology company’s stock worth $3,603,473,000 after acquiring an additional 3,101,267 shares during the period. Geode Capital Management LLC increased its position in shares of Palo Alto Networks by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 15,989,257 shares of the network technology company’s stock worth $2,934,935,000 after acquiring an additional 540,756 shares during the period. Finally, Norges Bank acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at $1,415,364,000. 79.82% of the stock is owned by hedge funds and other institutional investors.
Palo Alto Networks Stock Performance
Shares of PANW stock opened at $339.90 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $339.90 and a 200 day moving average price of $244.71. The company has a market cap of $277.02 billion, a P/E ratio of 278.61, a PEG ratio of 11.76 and a beta of 0.91. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $398.88.
Key Headlines Impacting Palo Alto Networks
Here are the key news stories impacting Palo Alto Networks this week:
- Positive Sentiment: Analysts raised price targets. JPMorgan increased its target from $326 to $384 and maintained an “overweight” rating, while Benchmark raised its target from $340 to $400 and reiterated a “buy” rating. These revisions reflect continued confidence in Palo Alto Networks’ growth prospects. JPMorgan price target article Benchmark price target article
- Positive Sentiment: Cybersecurity demand remains a long-term growth driver. Strong firewall bookings, expanding software revenue and increasing AI-related network traffic are supporting the company’s Network Security outlook. Can Rising Network Security Demand Boost PANW’s Long-Term Growth?
- Neutral Sentiment: Earnings are the next major catalyst. Palo Alto Networks was expected to report quarterly results on Tuesday. Investors will focus on billings, recurring software and platform growth, profitability and forward guidance to determine whether the company’s elevated valuation is justified. Palo Alto Networks Expected to Post Earnings on Tuesday
- Negative Sentiment: Valuation and profit-taking may be weighing on the stock. Despite favorable analyst commentary, PANW trades at a very high reported P/E ratio of about 279 and has risen sharply over the past year. The decline while the market gained indicates investors may be locking in profits or demanding stronger near-term results before bidding shares higher. Palo Alto Networks Stock Sinks As Market Gains
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Loop Capital lifted their target price on Palo Alto Networks from $160.00 to $290.00 and gave the company a “hold” rating in a report on Wednesday, June 3rd. Barclays reaffirmed an “overweight” rating and issued a $370.00 price target (up from $315.00) on shares of Palo Alto Networks in a research report on Wednesday, August 5th. BTIG Research lifted their price objective on Palo Alto Networks from $333.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. BNP Paribas Exane lifted their price objective on Palo Alto Networks from $330.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Rosenblatt Securities boosted their price objective on Palo Alto Networks from $275.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, forty have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.87.
Check Out Our Latest Report on PANW
Insiders Place Their Bets
In other news, Director James J. Goetz sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 20,000 shares of the company’s stock, valued at approximately $5,598,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helle Thorning-Schmidt sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $346.85, for a total value of $242,795.00. Following the sale, the director owned 5,898 shares of the company’s stock, valued at approximately $2,045,721.30. The trade was a 10.61% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 37,935 shares of company stock worth $10,809,461. 1.40% of the stock is currently owned by company insiders.
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.
Featured Stories
- Five stocks we like better than Palo Alto Networks
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report).
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.
