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

Parr Mcknight Wealth Management Group LLC lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 23.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

Several other institutional investors have also bought and sold shares of PANW. BlackRock Inc. acquired a new position in Palo Alto Networks during the second quarter worth $25,833,462,000. State Street Corp lifted its holdings in shares of Palo Alto Networks by 4.2% during the second quarter. State Street Corp now owns 36,979,497 shares of the network technology company’s stock valued at $12,610,748,000 after acquiring an additional 1,493,179 shares during the period. Bank of America Corp DE boosted its stake 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 valued at $7,734,973,000 after purchasing an additional 205,123 shares in the last quarter. 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 in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Palo Alto Networks by 4.4% in the 1st quarter. First Trust Advisors LP now owns 6,466,118 shares of the network technology company’s stock valued at $1,036,648,000 after purchasing an additional 273,103 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. UBS Group reaffirmed a “neutral” rating and issued a $390.00 target price (up from $300.00) on shares of Palo Alto Networks in a report on Wednesday, August 19th. The Goldman Sachs Group reissued a “buy” rating and set a $390.00 price target (up from $371.00) on shares of Palo Alto Networks in a report on Wednesday, September 2nd. BMO Capital Markets restated an “outperform” rating and issued a $415.00 price target (up from $335.00) on shares of Palo Alto Networks in a research report on Thursday, August 20th. Robert W. Baird set a $420.00 price objective on shares of Palo Alto Networks and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. Finally, Evercore reaffirmed an “outperform” rating on shares of Palo Alto Networks in a research note on Monday, August 31st. Thirty-nine research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $398.55.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock 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 firm has a 50 day simple moving average of $372.01 and a 200 day simple moving average of $271.49. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week 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 quarterly earnings data on Tuesday, September 1st. The network technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.04. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.35 billion. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter 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 predict that Palo Alto Networks, Inc. will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 400 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $395.70, for a total value of $158,280.00. Following the transaction, the chief accounting officer owned 77,987 shares in the company, valued at $30,859,455.90. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aparna Bawa sold 250 shares of Palo Alto Networks stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $412.28, for a total value of $103,070.00. Following the completion of the sale, the director owned 4,427 shares of the company’s stock, valued at approximately $1,825,163.56. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,210 shares of company stock valued at $20,823,029 over the last quarter. 0.55% of the stock is currently owned by corporate insiders.

Palo Alto Networks Profile

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.