Canvas Wealth Advisors LLC Acquires 10,923 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• Canvas Wealth Advisors LLC increased its Palo Alto Networks stake by 24.5% in the first quarter, buying 10,923 additional shares and bringing its total to 55,557 shares worth about $8.9 million.
• Institutional ownership remains heavy in PANW, with hedge funds and other institutions owning about 79.82% of the stock, while several large investors including Vanguard, State Street, and Bank of America also expanded positions.
• Analysts remain broadly bullish on Palo Alto Networks, with multiple firms raising price targets and the stock reporting strong quarterly results that beat expectations on both earnings and revenue.

Canvas Wealth Advisors LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 24.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,557 shares of the network technology company's stock after acquiring an additional 10,923 shares during the quarter. Palo Alto Networks accounts for about 1.5% of Canvas Wealth Advisors LLC's holdings, making the stock its 20th largest position. Canvas Wealth Advisors LLC's holdings in Palo Alto Networks were worth $8,907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Palo Alto Networks by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 67,929,063 shares of the network technology company's stock worth $12,512,533,000 after purchasing an additional 2,659,100 shares during the last quarter. State Street Corp increased its position in shares of Palo Alto Networks by 2.0% during the 4th quarter. State Street Corp now owns 30,331,705 shares of the network technology company's stock valued at $5,587,100,000 after purchasing an additional 594,789 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Palo Alto Networks by 11.9% during the 4th quarter. Bank of America Corp DE now owns 19,375,486 shares of the network technology company's stock worth $3,568,964,000 after purchasing an additional 2,065,776 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Palo Alto Networks by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 15,989,257 shares of the network technology company's stock worth $2,934,935,000 after buying an additional 540,756 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Palo Alto Networks in the 4th quarter worth about $1,415,364,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, Director John P. Key sold 7,500 shares of Palo Alto Networks stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $279.24, for a total transaction of $2,094,300.00. Following the completion of the sale, the director owned 12,500 shares in the company, valued at approximately $3,490,500. This trade represents a 37.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 62,904 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $258.65, for a total value of $16,270,119.60. Following the transaction, the executive vice president directly owned 235,983 shares of the company's stock, valued at $61,037,002.95. The trade was a 21.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 102,111 shares of company stock valued at $27,204,024 over the last 90 days. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Argus increased their price target on shares of Palo Alto Networks from $222.00 to $320.00 in a research report on Friday, June 5th. Barclays reiterated an "overweight" rating and issued a $315.00 target price (up from $220.00) on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. Wedbush increased their target price on shares of Palo Alto Networks from $300.00 to $340.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. Rosenblatt Securities raised their price target on shares of Palo Alto Networks from $275.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $345.00 price objective (up from $265.00) on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $317.78.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $357.53 on Tuesday. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $368.17. The business's fifty day moving average is $258.43 and its 200 day moving average is $201.50. 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 firm has a market cap of $291.39 billion, a price-to-earnings ratio of 293.06, a PEG ratio of 12.92 and a beta of 0.91.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.06. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.94 billion. Palo Alto Networks had a return on equity of 10.53% and a net margin of 7.95%.The company's quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. 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. Research analysts predict that Palo Alto Networks, Inc. will post 2.03 EPS for the current year.

Palo Alto Networks News Roundup

Here are the key news stories impacting Palo Alto Networks this week:

• Positive Sentiment: Needham & Company raised its price target on Palo Alto Networks (PANW) to $425 from $350 and reiterated a Buy rating, implying further upside versus the current share price. Benzinga
• Positive Sentiment: BTIG and Wells Fargo both lifted price targets on Palo Alto Networks, citing stronger operating momentum and continued demand for AI-driven security solutions, helping push the stock to a record high. Palo Alto Networks stock hits record high as analysts raise price targets
• Positive Sentiment: Additional coverage highlighted PANW as one of the high-growth cybersecurity stocks to own, reinforcing the bullish sentiment around the name. Here’s Why Palo Alto (PANW) is Among the 8 High Growth Cybersecurity Stocks to Buy Now
• Neutral Sentiment: One recent article noted that while Palo Alto Networks remains a strong company, valuation may be stretched at current levels, which could temper enthusiasm for some investors. Palo Alto Networks: Great Company, But Don't Buy At Nosebleed Prices

Palo Alto Networks Company 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.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report).

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.