75,753,509 Shares in Palo Alto Networks, Inc. $PANW Bought by BlackRock Inc.

BlackRock Inc. bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 75,753,509 shares of the network technology company's stock, valued at approximately $25,833,462,000. BlackRock Inc. owned 9.29% of Palo Alto Networks as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Occidental Asset Management LLC purchased a new stake in shares of Palo Alto Networks in the second quarter valued at $1,126,000. Succession Financial Inc. acquired a new position in Palo Alto Networks during the second quarter valued at $546,000. Dunhill Financial LLC purchased a new stake in Palo Alto Networks in the 2nd quarter worth about $45,000. Pallas Capital Advisors LLC purchased a new stake in Palo Alto Networks in the 2nd quarter worth about $7,850,000. Finally, Panoramic Capital Partners LLC acquired a new stake in Palo Alto Networks during the 2nd quarter worth about $227,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Aparna Bawa sold 290 shares of the stock in a transaction on Wednesday, July 1st. The shares were 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 $2,244,839.38. This represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Helle Thorning-Schmidt sold 700 shares of the firm's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $346.85, for a total transaction of $242,795.00. Following the transaction, the director owned 5,898 shares in the company, valued at $2,045,721.30. This represents a 10.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 101,239 shares of company stock valued at $27,174,360. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Stock Down 2.2%

Shares of Palo Alto Networks stock opened at $375.76 on Tuesday. The firm has a market cap of $306.24 billion, a price-to-earnings ratio of 308.00, a P/E/G ratio of 12.89 and a beta of 0.91. 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, Inc. has a 52-week low of $139.57 and a 52-week high of $398.88. The stock has a 50-day simple moving average of $330.20 and a 200-day simple moving average of $237.05.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results 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. Palo Alto Networks had a return on equity of 10.53% and a net margin of 7.95%.The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the previous year, the business posted $0.37 EPS. The firm's quarterly revenue was up 31.1% compared to the same quarter last year. 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. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 2.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Guggenheim cut Palo Alto Networks from a "neutral" rating to a "reduce" rating in a research note on Wednesday, May 27th. BTIG Research raised their price target on shares of Palo Alto Networks from $333.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. Benchmark boosted their price objective 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 boosted their price objective on shares of Palo Alto Networks from $185.00 to $433.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Finally, Robert W. Baird set a $320.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, forty have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $342.61.

Palo Alto Networks 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source