Axxcess Wealth Management LLC Sells 4,294 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• Axxcess Wealth Management cut its Palo Alto Networks stake by 61.4% in the third quarter, selling 4,294 shares and retaining 2,703 shares valued at approximately $1.07 million. Institutional investors and hedge funds collectively own 79.82% of the company.
• Palo Alto Networks reported quarterly EPS of $1.02, ahead of the $0.98 consensus estimate, while revenue reached $3.41 billion and increased 34.5% year over year. The stock opened at $380.55, with a market capitalization of about $311.3 billion.
• Analysts maintain a positive outlook, with 39 Buy ratings and 11 Holds, producing a consensus “Moderate Buy” rating and an average price target of $398.55; insiders sold approximately $20.8 million of shares over the past 90 days.

Axxcess Wealth Management LLC decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 61.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,703 shares of the network technology company's stock after selling 4,294 shares during the quarter. Axxcess Wealth Management LLC's holdings in Palo Alto Networks were worth $1,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PANW. Crossmark Global Holdings Inc. raised its position in shares of Palo Alto Networks by 5.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 42,885 shares of the network technology company's stock worth $17,039,000 after acquiring an additional 2,095 shares in the last quarter. Kraft Davis & Associates LLC boosted its position in shares of Palo Alto Networks by 4.0% during the 3rd quarter. Kraft Davis & Associates LLC now owns 3,270 shares of the network technology company's stock valued at $1,299,000 after purchasing an additional 126 shares in the last quarter. Albion Financial Group UT acquired a new stake in Palo Alto Networks during the third quarter worth approximately $370,000. Sawyer & Company Inc bought a new stake in Palo Alto Networks in the third quarter worth approximately $3,306,000. Finally, Atticus Wealth Management LLC lifted its stake in Palo Alto Networks by 29.8% in the third quarter. Atticus Wealth Management LLC now owns 3,291 shares of the network technology company's stock valued at $1,308,000 after buying an additional 755 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $380.55 on Friday. 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 business has a fifty day simple moving average of $369.33 and a two-hundred day simple moving average of $307.79. 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 $311.29 billion, a P/E ratio of 172.29, a P/E/G ratio of 10.21 and a beta of 0.93.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Tuesday, September 1st. The network technology company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.04. The firm had revenue of $3.41 billion for 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%. 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 firm 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. On average, analysts expect that Palo Alto Networks, Inc. will post 2.31 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. New Street Research set a $415.00 target price on shares of Palo Alto Networks in a research note on Tuesday, August 18th. BNP Paribas Exane boosted their price objective on Palo Alto Networks from $380.00 to $400.00 and gave the company an "outperform" rating in a report on Wednesday, September 2nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $425.00 target price on shares of Palo Alto Networks in a research report on Tuesday, September 8th. Truist Financial set a $400.00 target price on Palo Alto Networks in a report on Wednesday, September 2nd. Finally, Stifel Nicolaus set a $415.00 price target on shares of Palo Alto Networks and gave the company a "buy" rating in a research note on Wednesday, August 19th. Thirty-nine equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $398.55.

Insider Transactions at Palo Alto Networks

In other news, 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 value of $10,769,000.00. Following the completion of the transaction, the executive vice president directly owned 117,750 shares of the company's stock, valued at $46,110,900. This trade represents a 18.93% 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 1,000 shares of the business's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $373.61, for a total value of $373,610.00. Following the sale, the director owned 5,437 shares in the company, valued at approximately $2,031,317.57. The trade was a 15.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 54,210 shares of company stock valued at $20,823,029. 1.40% of the stock is currently owned by company insiders.

Palo Alto Networks Company 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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