9,109 Palo Alto Networks, Inc. $PANW Shares Sold by Sitrin Capital Management LLC

Key Points

• Sitrin Capital Management cut its Palo Alto Networks stake by 34% in the third quarter, selling 9,109 shares and retaining 17,702 shares valued at approximately $7.03 million. Institutional investors collectively own 79.82% of PANW.
• Analyst sentiment remains favorable, with one Strong Buy, 38 Buy, and 11 Hold ratings; the stock has a consensus rating of Moderate Buy and an average price target of $398.55.
• Palo Alto Networks exceeded quarterly expectations with $1.02 in adjusted EPS and $3.41 billion in revenue, up 34.5% year over year. However, insiders sold 54,210 shares worth approximately $20.8 million over the past three months.

Sitrin Capital Management LLC lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 34.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,702 shares of the network technology company's stock after selling 9,109 shares during the period. Palo Alto Networks makes up approximately 3.2% of Sitrin Capital Management LLC's holdings, making the stock its 15th biggest position. Sitrin Capital Management LLC's holdings in Palo Alto Networks were worth $7,033,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Columbia Asset Management acquired a new position in Palo Alto Networks during the third quarter valued at approximately $247,000. Maia Wealth LLC raised its position in shares of Palo Alto Networks by 8.3% in the third quarter. Maia Wealth LLC now owns 17,572 shares of the network technology company's stock valued at $6,981,000 after purchasing an additional 1,354 shares during the period. Tanager Wealth Management LLP raised its position in shares of Palo Alto Networks by 17.8% in the third quarter. Tanager Wealth Management LLP now owns 1,140 shares of the network technology company's stock valued at $453,000 after purchasing an additional 172 shares during the period. Fairvoy Private Wealth LLC acquired a new stake in shares of Palo Alto Networks in the third quarter worth $1,694,000. Finally, Clark Financial Services Group Inc. BD lifted its stake in shares of Palo Alto Networks by 5.9% in the third quarter. Clark Financial Services Group Inc. BD now owns 3,537 shares of the network technology company's stock worth $1,405,000 after buying an additional 198 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

PANW has been the subject of several recent analyst reports. Susquehanna upped their price objective on shares of Palo Alto Networks from $350.00 to $415.00 and gave the stock a "positive" rating in a report on Wednesday, September 2nd. Loop Capital lifted their target price on shares of Palo Alto Networks from $290.00 to $350.00 and gave the stock a "hold" rating in a report on Friday, August 21st. Evercore reiterated an "outperform" rating on shares of Palo Alto Networks in a report on Monday, August 31st. Oppenheimer reissued an "outperform" rating and set a $450.00 target price (up from $400.00) on shares of Palo Alto Networks in a research report on Wednesday, September 2nd. Finally, UBS Group restated a "neutral" rating and set a $390.00 price target (up from $300.00) on shares of Palo Alto Networks in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $398.55.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $346.95 on Tuesday. 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 cap of $283.81 billion, a P/E ratio of 166.02, a P/E/G ratio of 9.84 and a beta of 0.93. The business's 50 day moving average is $371.90 and its two-hundred day moving average is $303.36. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, September 1st. The network technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.04. The company 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 earnings per share. 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. On average, equities analysts expect that Palo Alto Networks, Inc. will post 2.31 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director John Key sold 2,500 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $376.03, for a total value of $940,075.00. Following the completion of the sale, the director directly owned 10,000 shares of the company's stock, valued at $3,760,300. This represents a 20.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the executive vice president owned 117,750 shares in the company, valued at $46,110,900. This represents a 18.93% 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 in the last three months. 1.40% of the stock is owned by 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.

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