Tred Avon Family Wealth LLC cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 11.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,050 shares of the network technology company’s stock after selling 1,468 shares during the period. Palo Alto Networks accounts for about 1.3% of Tred Avon Family Wealth LLC’s portfolio, making the stock its 14th largest position. Tred Avon Family Wealth LLC’s holdings in Palo Alto Networks were worth $4,390,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Palo Alto Networks during the second quarter worth about $25,833,462,000. Legal & General Group Plc acquired a new position in Palo Alto Networks in the 2nd quarter worth approximately $1,968,304,000. Bank of New York Mellon Corp acquired a new position in Palo Alto Networks in the 2nd quarter worth approximately $1,569,755,000. Deutsche Bank AG acquired a new position in Palo Alto Networks in the 2nd quarter worth approximately $1,481,236,000. Finally, Bank of America Corp DE raised its position in Palo Alto Networks by 16.0% during the 1st 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 buying an additional 3,101,267 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have commented on PANW. Weiss Ratings upgraded shares of Palo Alto Networks from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. HSBC dropped their price objective on shares of Palo Alto Networks from $201.00 to $190.00 in a report on Thursday, September 3rd. Guggenheim reiterated a “neutral” rating on shares of Palo Alto Networks in a research note on Wednesday, September 2nd. Stephens set a $400.00 target price on shares of Palo Alto Networks and gave the stock an “equal weight” rating in a report on Wednesday, September 2nd. Finally, Benchmark boosted their target price on shares of Palo Alto Networks from $340.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $398.55.
Read Our Latest Stock Report on Palo Alto Networks
Palo Alto Networks Stock Up 1.4%
Shares of PANW opened at $346.95 on Tuesday. The firm has a market cap of $283.81 billion, a P/E ratio of 680.31, a PEG ratio of 9.84 and a beta of 0.93. The stock’s 50 day moving average is $371.90 and its two-hundred day moving average is $303.36. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $432.33.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last posted its quarterly earnings data on Tuesday, September 1st. The network technology company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.04. Palo Alto Networks had a net margin of 2.67% and a return on equity of 8.50%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 34.5% on a year-over-year basis. Palo Alto Networks has set its FY 2027 guidance at 4.160-4.190 EPS and its Q1 2027 guidance at 0.960-0.980 EPS. Analysts predict that Palo Alto Networks, Inc. will post 2.31 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Palo Alto Networks news, CAO Josh Paul sold 900 shares of Palo Alto Networks stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $373.68, for a total transaction of $336,312.00. Following the sale, the chief accounting officer owned 72,484 shares of the company’s stock, valued at $27,085,821.12. The trade was a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Aparna Bawa sold 1,000 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $373.61, for a total transaction of $373,610.00. Following the transaction, the director owned 5,437 shares in the company, valued at $2,031,317.57. The trade was a 15.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,210 shares of company stock worth $20,823,029 in the last ninety days. Company insiders own 1.40% of the company’s stock.
Palo Alto Networks Profile
Palo Alto Networks, Inc (NASDAQ:PANW) is a global cybersecurity company that helps organizations protect networks, cloud environments, endpoints, and digital infrastructure. Its offerings are designed to prevent cyberattacks, identify security risks, monitor activity, and support incident response across enterprise, government, and service-provider environments.
The company’s portfolio includes network security products such as next-generation firewalls and security operations tools; Prisma, its cloud security platform; and Cortex, a suite focused on endpoint protection, threat detection, security analytics, and automated response.
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