Assenagon Asset Management S.A. Sells 95,066 Shares of Palo Alto Networks, Inc. $PANW

Assenagon Asset Management S.A. lowered its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 806,195 shares of the network technology company's stock after selling 95,066 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of Palo Alto Networks worth $320,309,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Consilium Wealth Advisory LLC grew its holdings in shares of Palo Alto Networks by 2.5% in the third quarter. Consilium Wealth Advisory LLC now owns 1,117 shares of the network technology company's stock worth $444,000 after purchasing an additional 27 shares during the last quarter. Grove Bank & Trust lifted its holdings in Palo Alto Networks by 7.0% during the 3rd quarter. Grove Bank & Trust now owns 472 shares of the network technology company's stock valued at $188,000 after buying an additional 31 shares in the last quarter. Riversedge Advisors LLC lifted its holdings in Palo Alto Networks by 2.5% during the 3rd quarter. Riversedge Advisors LLC now owns 1,285 shares of the network technology company's stock valued at $511,000 after buying an additional 31 shares in the last quarter. Tenon Financial LLC boosted its holdings in shares of Palo Alto Networks by 5.3% in the third quarter. Tenon Financial LLC now owns 661 shares of the network technology company's stock valued at $263,000 after purchasing an additional 33 shares during the period. Finally, Trilogy Capital Inc. grew its stake in Palo Alto Networks by 1.8% in the second quarter. Trilogy Capital Inc. now owns 2,127 shares of the network technology company's stock worth $725,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $370.27 on Friday. The company's fifty day moving average price is $373.10 and its 200 day moving average price is $300.73. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $432.33. The company has a market capitalization of $302.88 billion, a PE ratio of 182.06, a price-to-earnings-growth ratio of 10.79 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly 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. 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 quarterly revenue was up 34.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. On average, research analysts predict that Palo Alto Networks, Inc. will post 2.31 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Sanford C. Bernstein lowered Palo Alto Networks from an "outperform" rating to a "market perform" rating and raised their price target for the company from $253.00 to $351.00 in a research note on Thursday, September 17th. Jefferies Financial Group reiterated a "buy" rating and set a $450.00 price objective (up from $335.00) on shares of Palo Alto Networks in a report on Friday, August 28th. Needham & Company LLC reiterated a "buy" rating and set a $425.00 price objective on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Susquehanna upped their price objective on shares of Palo Alto Networks from $350.00 to $415.00 and gave the company a "positive" rating in a report on Wednesday, September 2nd. Finally, Stifel Nicolaus set a $415.00 price objective on shares of Palo Alto Networks and gave the company a "buy" rating in a research report on Wednesday, August 19th. Thirty-nine analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $393.02.

Insider Buying and Selling

In related news, Director Aparna Bawa sold 1,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $373.61, for a total transaction of $373,610.00. Following the transaction, the director owned 5,437 shares in the company, valued at approximately $2,031,317.57. This trade represents a 15.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 900 shares of Palo Alto Networks stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $373.68, for a total transaction of $336,312.00. Following the transaction, the chief accounting officer directly owned 72,484 shares in the company, valued at $27,085,821.12. This trade represents a 1.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,210 shares of company stock worth $20,823,029 in the last ninety days. Company insiders own 1.40% of the company's stock.

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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