Principle Wealth Partners LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 12.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 23,805 shares of the network technology company’s stock after selling 3,242 shares during the period. Principle Wealth Partners LLC’s holdings in Palo Alto Networks were worth $9,458,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Solstein Capital LLC acquired a new stake in Palo Alto Networks during the 2nd quarter worth approximately $26,000. N.E.W. Advisory Services LLC bought a new position in Palo Alto Networks in the second quarter valued at approximately $27,000. Delos Wealth Advisors LLC bought a new position in Palo Alto Networks in the second quarter valued at approximately $28,000. Principia Wealth Advisory LLC lifted its stake in Palo Alto Networks by 125.0% in the second quarter. Principia Wealth Advisory LLC now owns 81 shares of the network technology company’s stock valued at $28,000 after buying an additional 45 shares in the last quarter. Finally, Putney Financial Group LLC acquired a new position in shares of Palo Alto Networks in the third quarter valued at approximately $31,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently issued reports on PANW. Truist Financial set a $400.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, September 2nd. Stephens set a $400.00 price objective on shares of Palo Alto Networks and gave the company an “equal weight” rating in a research report on Wednesday, September 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $410.00 price objective (up from $345.00) on shares of Palo Alto Networks in a research report on Wednesday, September 2nd. TD Cowen reaffirmed a “buy” rating and issued a $440.00 target price (up from $400.00) on shares of Palo Alto Networks in a research note on Friday, October 2nd. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $525.00 target price (up from $475.00) on shares of Palo Alto Networks in a report on Monday, October 12th. Thirty-nine analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $398.55.
View Our Latest Research Report on Palo Alto Networks
Palo Alto Networks Stock Down 9.6%
Shares of PANW stock opened at $314.67 on Friday. 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 1 year low of $139.57 and a 1 year high of $432.33. The firm’s fifty day moving average price is $371.68 and its two-hundred day moving average price is $272.93. The firm has a market capitalization of $257.64 billion, a P/E ratio of 617.01, a PEG ratio of 9.98 and a beta of 0.96.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its quarterly earnings results on Tuesday, September 1st. The network technology company reported $1.02 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the firm posted $0.95 EPS. The company’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. On average, equities analysts predict that Palo Alto Networks, Inc. will post 2.32 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CAO Josh D. Paul sold 400 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $395.70, for a total transaction of $158,280.00. Following the completion of the transaction, the chief accounting officer directly owned 77,987 shares of the company’s stock, valued at approximately $30,859,455.90. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James J. Goetz sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $376.68, for a total value of $7,533,600.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,210 shares of company stock valued at $20,823,029 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.
About Palo Alto Networks
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.
See Also
- Five stocks we like better than Palo Alto Networks
- Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
- Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
- Oil, Uranium, or Renewables? 3 Energy Plays for a Changing Market
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.
