Palo Alto Networks, Inc. $PANW Stock Sold by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 23.8% in the third quarter, Holdings Channel.com reports. The fund owned 8,063 shares of the network technology company’s stock after selling 2,522 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Palo Alto Networks were worth $3,204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PANW. Solstein Capital LLC bought a new position in shares of Palo Alto Networks in the 2nd quarter worth $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Palo Alto Networks during the second quarter worth $27,000. Delos Wealth Advisors LLC acquired a new stake in shares of Palo Alto Networks during the second quarter worth $28,000. Principia Wealth Advisory LLC increased its holdings 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 purchasing an additional 45 shares during the last quarter. Finally, Putney Financial Group LLC bought a new stake in Palo Alto Networks in the third quarter valued at about $31,000. Institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PANW shares. BMO Capital Markets reissued an “outperform” rating and issued a $415.00 target price (up from $335.00) on shares of Palo Alto Networks in a research note on Thursday, August 20th. Mizuho set a $415.00 target price on Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Morgan Stanley set a $410.00 target price on Palo Alto Networks and gave the stock an “overweight” rating in a research report on Monday, September 21st. Argus reaffirmed a “buy” rating and issued a $425.00 price target on shares of Palo Alto Networks in a research note on Thursday, September 3rd. Finally, Roth Capital reiterated a “neutral” rating and issued a $300.00 price target (up from $210.00) on shares of Palo Alto Networks in a research report on Wednesday, September 2nd. Thirty-nine research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.55.

Insider Buying and Selling

In other news, Director Aparna Bawa sold 1,000 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $373.61, for a total transaction of $373,610.00. Following the completion of the sale, the director owned 5,437 shares of the company’s stock, valued at $2,031,317.57. This represents a 15.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dipak Golechha sold 27,500 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $391.60, for a total transaction of $10,769,000.00. Following the sale, the executive vice president owned 117,750 shares in the company, valued at approximately $46,110,900. The trade was a 18.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 54,210 shares of company stock valued at $20,823,029. 0.55% of the stock is owned by corporate insiders.

Palo Alto Networks Trading Down 0.4%

NASDAQ PANW opened at $350.20 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50-day moving average is $372.01 and its 200-day moving average is $271.49. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $432.33. The firm has a market cap of $286.73 billion, a P/E ratio of 686.68, a P/E/G ratio of 10.09 and a beta of 0.96.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, September 1st. The network technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.04. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%. Palo Alto Networks’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the prior year, the business earned $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. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.32 earnings per share for the current fiscal year.

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.