Palo Alto Networks, Inc. $PANW Stock: Turn8 Private Wealth Inc. Lowers Stake

Turn8 Private Wealth Inc. reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 16.2% during the third quarter, Holdings Channel.com reports. The fund owned 12,241 shares of the network technology company’s stock after selling 2,367 shares during the period. Palo Alto Networks makes up about 3.3% of Turn8 Private Wealth Inc.’s portfolio, making the stock its 11th biggest position. Turn8 Private Wealth Inc.’s holdings in Palo Alto Networks were worth $4,863,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Palo Alto Networks during the 2nd quarter worth approximately $25,833,462,000. State Street Corp lifted its position in shares of Palo Alto Networks by 4.2% in the 2nd quarter. State Street Corp now owns 36,979,497 shares of the network technology company’s stock worth $12,610,748,000 after purchasing an additional 1,493,179 shares during the period. Bank of America Corp DE lifted its position in shares of Palo Alto Networks by 0.9% in the 2nd quarter. Bank of America Corp DE now owns 22,681,876 shares of the network technology company’s stock worth $7,734,973,000 after purchasing an additional 205,123 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Palo Alto Networks by 8.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,778,963 shares of the network technology company’s stock valued at $2,993,802,000 after purchasing an additional 706,003 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Palo Alto Networks in the 2nd quarter valued at $1,968,304,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Price Performance

Shares of PANW opened at $326.36 on Wednesday. The firm has a market cap of $267.21 billion, a PE ratio of 639.93, a price-to-earnings-growth ratio of 9.49 and a beta of 0.96. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $432.33. The business’s 50 day moving average price is $368.37 and its two-hundred day moving average price is $275.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data 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. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. Palo Alto Networks had a net margin of 2.67% and a return on equity of 8.50%. The company’s quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. 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 anticipate that Palo Alto Networks, Inc. will post 2.32 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PANW shares. The Goldman Sachs Group reiterated a “buy” rating and set a $390.00 price objective (up from $371.00) on shares of Palo Alto Networks in a research report on Wednesday, September 2nd. Rosenblatt Securities boosted their target price on shares of Palo Alto Networks from $355.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Oppenheimer restated an “outperform” rating and issued a $450.00 target price (up from $400.00) on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Yorkville Ives started coverage on shares of Palo Alto Networks in a research report on Monday, October 5th. They set an “outperform” rating and a $500.00 price target on the stock. Finally, Roth Capital reiterated a “neutral” rating and set a $300.00 price target (up from $210.00) on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Thirty-nine investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $398.55.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 27,500 shares of the firm’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $391.60, for a total value of $10,769,000.00. Following the completion of the sale, the executive vice president directly owned 117,750 shares in the company, valued at approximately $46,110,900. This trade represents a 18.93% 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, Director James J. Goetz sold 20,000 shares of Palo Alto Networks stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $376.68, for a total transaction of $7,533,600.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,210 shares of company stock worth $20,823,029 over the last ninety days. 0.55% of the stock is owned by corporate insiders.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc. is a cybersecurity company that provides products and services to help organizations protect their networks, cloud environments, devices and applications. Its offerings include next-generation firewalls, cloud security tools, secure access services and platforms for detecting and responding to cyber threats. The company’s product portfolio includes Prisma for cloud and network security and Cortex for security operations, including threat detection and response. It also provides cybersecurity consulting and incident-response services through Unit 42.