NewEdge Advisors LLC Cuts Holdings in Palo Alto Networks, Inc. $PANW

NewEdge Advisors LLC trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 467,364 shares of the network technology company’s stock after selling 29,630 shares during the quarter. NewEdge Advisors LLC owned about 0.06% of Palo Alto Networks worth $159,381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PANW. California State Teachers Retirement System increased its stake in Palo Alto Networks by 35,252.4% in the 2nd quarter. California State Teachers Retirement System now owns 417,760,413 shares of the network technology company’s stock worth $142,464,656,000 after acquiring an additional 416,578,710 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Palo Alto Networks in the second quarter valued at $25,833,462,000. State Street Corp increased its position in 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 purchasing an additional 594,789 shares during the last quarter. Bank of America Corp DE raised its stake in Palo Alto Networks by 0.9% during the second quarter. Bank of America Corp DE now owns 22,681,876 shares of the network technology company’s stock valued at $7,734,973,000 after purchasing an additional 205,123 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in 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 valued at $2,934,935,000 after purchasing an additional 540,756 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $336.98 on Wednesday. The firm has a market cap of $274.64 billion, a PE ratio of 660.76, a price-to-earnings-growth ratio of 9.62 and a beta of 0.91. The firm’s 50 day simple moving average is $350.13 and its 200-day simple moving average is $257.94. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $398.88. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.87.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, September 1st. The network technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.04. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%.The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. Palo Alto Networks’s quarterly revenue 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. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 2.3 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PANW. Royal Bank Of Canada boosted their target price on shares of Palo Alto Networks from $434.00 to $475.00 and gave the stock an “outperform” rating in a report on Wednesday, September 2nd. Tigress Financial boosted their price objective on Palo Alto Networks from $245.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Mizuho set a $415.00 price objective on Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. lifted their target price on Palo Alto Networks from $326.00 to $384.00 and gave the stock an “overweight” rating in a report on Tuesday, August 25th. Finally, Oppenheimer restated an “outperform” rating and set a $450.00 price target (up from $400.00) on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Thirty-nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $385.67.

Insider Buying and Selling at Palo Alto Networks

In other news, Director Aparna Bawa sold 290 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $348.74, for a total transaction of $101,134.60. Following the transaction, the director owned 6,437 shares in the company, valued at approximately $2,244,839.38. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Helle Thorning-Schmidt sold 700 shares of Palo Alto Networks stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $346.85, for a total value of $242,795.00. Following the completion of the sale, the director owned 5,898 shares of the company’s stock, valued at $2,045,721.30. The trade was a 10.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 38,258 shares of company stock worth $11,050,673 over the last quarter. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Profile

Palo Alto Networks, Inc is a cybersecurity company that provides security products and services to businesses, governments and other organizations worldwide. The company helps customers protect networks, cloud environments, endpoints, applications and connected devices from cyber threats.

Its portfolio includes next-generation firewalls and network security technologies, as well as cloud-delivered security solutions such as Prisma Access and Prisma Cloud. Palo Alto Networks also offers Cortex products for endpoint protection, security operations, threat detection and response, and automation.