Eastern Bank Lowers Position in Palo Alto Networks, Inc. $PANW

Eastern Bank trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 14.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 194,344 shares of the network technology company’s stock after selling 32,499 shares during the quarter. Eastern Bank’s holdings in Palo Alto Networks were worth $66,275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock valued at $1,230,000 after buying an additional 4,031 shares during the period. Bison Wealth LLC boosted its holdings in shares of Palo Alto Networks by 169.1% during the 4th quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after buying an additional 3,275 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Palo Alto Networks by 66.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock worth $713,000 after buying an additional 1,389 shares during the period. Osterweis Capital Management Inc. grew its position in shares of Palo Alto Networks by 11,100.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 560 shares of the network technology company’s stock worth $115,000 after buying an additional 555 shares during the period. Finally, Main Street Financial Solutions LLC increased its stake in shares of Palo Alto Networks by 6.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,398 shares of the network technology company’s stock worth $900,000 after acquiring an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, Director John P. Key sold 7,500 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $279.24, for a total transaction of $2,094,300.00. Following the sale, the director owned 12,500 shares in the company, valued at $3,490,500. This represents a 37.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 62,904 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $258.65, for a total transaction of $16,270,119.60. Following the sale, the executive vice president owned 235,983 shares in the company, valued at approximately $61,037,002.95. The trade was a 21.05% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 101,239 shares of company stock valued at $27,174,360. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Price Performance

PANW opened at $347.13 on Tuesday. The firm has a market cap of $282.91 billion, a PE ratio of 284.53, a P/E/G ratio of 12.32 and a beta of 0.91. The stock has a 50-day moving average price of $309.73 and a 200-day moving average price of $223.57. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $368.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, June 2nd. The network technology company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.79 by $0.06. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.94 billion. Palo Alto Networks had a net margin of 7.95% and a return on equity of 10.53%. Palo Alto Networks’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. Palo Alto Networks has set its FY 2026 guidance at 3.770-3.790 EPS and its Q4 2026 guidance at 0.960-0.980 EPS. Sell-side analysts predict that Palo Alto Networks, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PANW shares. Benchmark lifted their price target on shares of Palo Alto Networks from $270.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Arete Research upped their price objective on shares of Palo Alto Networks from $185.00 to $433.00 and gave the stock a “buy” rating in a report on Monday, June 29th. William Blair reaffirmed an “outperform” rating on shares of Palo Alto Networks in a research note on Tuesday, June 16th. Truist Financial lifted their target price on shares of Palo Alto Networks from $275.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Loop Capital lifted their target price on shares of Palo Alto Networks from $160.00 to $290.00 and gave the company a “hold” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $331.48.

Palo Alto Networks Company Profile

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.