3,666 Palo Alto Networks, Inc. $PANW Shares Sold by Fragasso Financial Advisors Inc

Key Points

• Fragasso Financial Advisors reduced its Palo Alto Networks stake by 35.7%, selling 3,666 shares and retaining 6,603 shares valued at approximately $2.8 million. Institutional investors and hedge funds collectively own 79.82% of PANW.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $392.38; Wells Fargo recently raised its target to $525.
• PANW shares fell 0.8% to $400.75, despite the company exceeding quarterly earnings and revenue estimates. Revenue rose 34.5% year over year to $3.41 billion, while earnings came in at $1.02 per share.

Fragasso Financial Advisors Inc trimmed its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 35.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,603 shares of the network technology company's stock after selling 3,666 shares during the quarter. Fragasso Financial Advisors Inc's holdings in Palo Alto Networks were worth $2,765,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PANW. BlackRock Inc. acquired a new stake in Palo Alto Networks during the 2nd quarter valued at $25,833,462,000. Legal & General Group Plc acquired a new stake in Palo Alto Networks during the 2nd quarter worth approximately $1,968,304,000. Bank of New York Mellon Corp bought a new position in Palo Alto Networks during the 2nd quarter worth $1,569,755,000. Deutsche Bank AG bought a new position in Palo Alto Networks during the 2nd quarter worth $1,481,236,000. Finally, Bank of America Corp DE grew its stake in shares of Palo Alto Networks by 16.0% in the first quarter. Bank of America Corp DE now owns 22,476,753 shares of the network technology company's stock valued at $3,603,473,000 after acquiring an additional 3,101,267 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palo Alto Networks

In related news, Director James J. Goetz sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $376.68, for a total value of $7,533,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 400 shares of Palo Alto Networks 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 sale, the chief accounting officer directly owned 77,987 shares of the company's stock, valued at approximately $30,859,455.90. This trade represents a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,210 shares of company stock worth $20,823,029 in the last 90 days. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Stephens set a $400.00 price objective on Palo Alto Networks and gave the stock an "equal weight" rating in a research note on Wednesday, September 2nd. Evercore restated an "outperform" rating on shares of Palo Alto Networks in a research note on Monday, August 31st. Morgan Stanley set a $410.00 price objective on Palo Alto Networks and gave the stock an "overweight" rating in a research report on Monday, September 21st. JPMorgan Chase & Co. boosted their target price on Palo Alto Networks from $326.00 to $384.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 25th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $525.00 price target (up from $475.00) on shares of Palo Alto Networks in a report on Monday. Thirty-eight analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $392.38.

Palo Alto Networks Stock Down 0.8%

Shares of PANW traded down $3.08 during trading hours on Tuesday, reaching $400.75. The stock had a trading volume of 1,578,973 shares, compared to its average volume of 8,194,328. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The firm has a 50-day simple moving average of $372.02 and a 200 day simple moving average of $295.90. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $432.33. The company has a market capitalization of $327.81 billion, a price-to-earnings ratio of 785.78, a P/E/G ratio of 12.05 and a beta of 0.93.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Tuesday, September 1st. The network technology company reported $1.02 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The company's revenue was up 34.5% compared to the same quarter last year. 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. Equities research analysts predict that Palo Alto Networks, Inc. will post 2.31 earnings per share for the current fiscal year.

Palo Alto Networks Profile

Palo Alto Networks, Inc is a cybersecurity company that provides solutions designed to help organizations protect networks, endpoints, cloud environments, applications and users from cyber threats. Its offerings include next-generation firewalls, cloud-delivered security services, secure access service edge (SASE) solutions, endpoint protection and security operations tools.

The company also provides platforms and services for cloud security, threat intelligence, incident response, vulnerability management and the automation of security operations.

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