Bank of Nova Scotia Makes New $30.55 Million Investment in Palo Alto Networks, Inc. $PANW

Key Points

• Bank of Nova Scotia acquired 89,599 Palo Alto Networks shares worth approximately $30.55 million in the second quarter. Institutional investors and hedge funds collectively own 79.82% of PANW.
• Insiders sold 37,935 shares worth about $10.81 million during the latest quarter, while corporate insiders retain a 1.40% ownership stake.
• Analysts maintain a favorable outlook, with an average “Moderate Buy” rating and a $362.67 price target. Palo Alto Networks recently surpassed quarterly earnings and revenue estimates, reporting 31.1% year-over-year revenue growth.

Bank of Nova Scotia bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 89,599 shares of the network technology company's stock, valued at approximately $30,555,000.

Several other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock worth $1,230,000 after buying an additional 4,031 shares in the last quarter. Bison Wealth LLC raised its stake in Palo Alto Networks by 169.1% in the 4th quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company's stock worth $948,000 after purchasing an additional 3,275 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Palo Alto Networks by 66.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company's stock valued at $713,000 after purchasing an additional 1,389 shares during the period. Osterweis Capital Management Inc. boosted its holdings in Palo Alto Networks by 11,100.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 560 shares of the network technology company's stock valued at $115,000 after purchasing an additional 555 shares during the period. Finally, Main Street Financial Solutions LLC grew its position in shares of Palo Alto Networks by 6.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,398 shares of the network technology company's stock worth $900,000 after purchasing an additional 249 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Palo Alto Networks news, Director James J. Goetz sold 20,000 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $279.90, for a total transaction of $5,598,000.00. Following the sale, the director owned 20,000 shares of the company's stock, valued at approximately $5,598,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $289.56, for a total value of $1,447,800.00. Following the completion of the transaction, the executive vice president directly owned 145,250 shares in the company, valued at approximately $42,058,590. This trade represents a 3.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 37,935 shares of company stock valued at $10,809,461. Corporate insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PANW. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palo Alto Networks from $220.00 to $350.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. DA Davidson increased their price target on Palo Alto Networks from $190.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Piper Sandler restated an "overweight" rating and set a $345.00 price objective (up from $265.00) on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. BTIG Research raised their price target on Palo Alto Networks from $333.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Palo Alto Networks from $200.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $362.67.

Palo Alto Networks Stock Up 0.0%

Shares of PANW opened at $358.04 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $291.80 billion, a price-to-earnings ratio of 293.48, a PEG ratio of 12.00 and a beta of 0.91. Palo Alto Networks, Inc. has a 52 week low of $139.57 and a 52 week high of $398.88. The stock has a fifty day moving average of $337.38 and a 200-day moving average of $242.19.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share for the quarter, topping 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 company had revenue of $3 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same period in the previous year, the business posted $0.37 earnings per share. The business'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. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.02 earnings per share for the current fiscal year.

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.

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