PNC Financial Services Group Inc. Trims Position in Palo Alto Networks, Inc. $PANW

PNC Financial Services Group Inc. lessened its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 247,391 shares of the network technology company’s stock after selling 2,022 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Palo Alto Networks were worth $45,569,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in 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 acquiring an additional 2,659,100 shares during the last quarter. State Street Corp increased its position in Palo Alto Networks by 1.7% during the third quarter. State Street Corp now owns 29,736,916 shares of the network technology company’s stock valued at $6,055,031,000 after acquiring an additional 505,924 shares during the last quarter. Northern Trust Corp increased its position in Palo Alto Networks by 0.5% during the third quarter. Northern Trust Corp now owns 7,528,248 shares of the network technology company’s stock valued at $1,532,902,000 after acquiring an additional 36,511 shares during the last quarter. First Trust Advisors LP increased its position in Palo Alto Networks by 11.5% during the third quarter. First Trust Advisors LP now owns 5,906,963 shares of the network technology company’s stock valued at $1,202,776,000 after acquiring an additional 611,375 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in Palo Alto Networks by 7.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,356,617 shares of the network technology company’s stock valued at $802,691,000 after acquiring an additional 319,751 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 2.5%

NASDAQ:PANW opened at $252.92 on Friday. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $253.10. The stock has a 50-day moving average price of $181.38 and a 200 day moving average price of $181.77. The stock has a market capitalization of $206.38 billion, a P/E ratio of 139.73, a P/E/G ratio of 8.89 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.09. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business posted $0.81 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. On average, research analysts predict that Palo Alto Networks, Inc. will post 2.14 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $160.42, for a total transaction of $802,100.00. Following the completion of the sale, the executive vice president owned 150,250 shares in the company, valued at approximately $24,103,105. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora bought 68,085 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The shares were acquired at an average price of $146.87 per share, with a total value of $9,999,643.95. Following the transaction, the chief executive officer directly owned 343,394 shares of the company’s stock, valued at $50,434,276.78. This represents a 24.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 30,356 shares of company stock valued at $4,981,575 in the last three months. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks News Summary

Here are the key news stories impacting Palo Alto Networks this week:

• Positive Sentiment: Wells Fargo raised its price target on Palo Alto Networks to $285 from $235 and kept an overweight rating, reinforcing a bullish outlook on the stock. Benzinga
• Positive Sentiment: Stifel Nicolaus also lifted its target to $275 and reiterated a buy rating, while BMO and Morgan Stanley recently boosted their targets as well, signaling broader Wall Street confidence in PANW’s growth outlook. MarketScreener
• Positive Sentiment: At Jefferies’ attended Ignite On Tour event, customers showed strong interest in Palo Alto’s AI security products, including Prisma AIRS, XSIAM, Portkey, and Koi Security, suggesting the company’s AI strategy is gaining traction. Proactive Investors
• Positive Sentiment: Analyst commentary also highlighted rising demand for AI security as a potential long-term growth driver, which could support continued multiple expansion if adoption accelerates. Zacks
• Neutral Sentiment: Josh Brown added Palo Alto Networks to his “best stocks in the market” list, which adds to the positive sentiment around cybersecurity names, though it is more of a watchlist/endorsement signal than a direct business catalyst. Invezz

Analysts Set New Price Targets

A number of analysts recently commented on PANW shares. Mizuho upped their price objective on Palo Alto Networks from $200.00 to $265.00 and gave the company an “outperform” rating in a research report on Monday. UBS Group set a $183.00 price target on Palo Alto Networks in a research report on Thursday, February 19th. Loop Capital reduced their price target on Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, February 18th. BMO Capital Markets upped their price target on Palo Alto Networks from $200.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, New Street Research reduced their price target on Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.33.

About Palo Alto Networks

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.