Castle Rock Wealth Management LLC Cuts Holdings in Palo Alto Networks, Inc. $PANW

Key Points

• Castle Rock Wealth Management reduced its Palo Alto Networks stake by 13.9% in the third quarter, selling 3,451 shares and retaining 21,353 shares valued at approximately $8.97 million. Institutional investors collectively own 79.82% of PANW.
• Palo Alto Networks shares rose 5.1% to $418.78, near the company’s 12-month high, after the cybersecurity firm exceeded quarterly earnings and revenue estimates; revenue increased 34.5% year over year.
• Analysts maintain a generally positive outlook, with 38 Buy ratings and 12 Holds and an average target price of $391.32, although insiders sold nearly $20.7 million of stock during the latest quarter.

Castle Rock Wealth Management LLC lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 13.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,353 shares of the network technology company's stock after selling 3,451 shares during the period. Palo Alto Networks makes up approximately 1.7% of Castle Rock Wealth Management LLC's holdings, making the stock its 11th largest holding. Castle Rock Wealth Management LLC's holdings in Palo Alto Networks were worth $8,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PANW. Bullock Wealth Management Group increased its position in Palo Alto Networks by 1.3% during the third quarter. Bullock Wealth Management Group now owns 4,296 shares of the network technology company's stock valued at $1,702,000 after acquiring an additional 57 shares during the last quarter. Riversedge Advisors LLC lifted its holdings in shares of Palo Alto Networks by 2.5% in the 3rd quarter. Riversedge Advisors LLC now owns 1,285 shares of the network technology company's stock worth $511,000 after acquiring an additional 31 shares during the last quarter. Wedmont Private Capital boosted its stake in shares of Palo Alto Networks by 13.2% during the 3rd quarter. Wedmont Private Capital now owns 11,130 shares of the network technology company's stock worth $4,435,000 after purchasing an additional 1,297 shares during the period. Intelligence Driven Advisers LLC purchased a new position in shares of Palo Alto Networks during the 3rd quarter worth about $287,000. Finally, Journey Retirement Planning & Investment Management LLC bought a new position in Palo Alto Networks during the 3rd quarter valued at about $383,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 5.1%

NASDAQ PANW traded up $20.28 on Friday, reaching $418.78. 3,833,698 shares of the stock traded hands, compared to its average volume of 8,246,200. 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 $342.56 billion, a price-to-earnings ratio of 821.15, a PEG ratio of 11.67 and a beta of 0.93. The company has a fifty day moving average price of $369.15 and a 200-day moving average price of $292.37. 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 posted its quarterly earnings results on Tuesday, September 1st. The network technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.04. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate 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 was up 34.5% compared to the same quarter last year. During the same quarter in the prior year, the company 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. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 2.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on PANW shares. Jefferies Financial Group reissued a "buy" rating and issued a $450.00 price objective (up from $335.00) on shares of Palo Alto Networks in a research note on Friday, August 28th. Piper Sandler reiterated an "overweight" rating and issued a $410.00 price target (up from $345.00) on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Guggenheim reissued a "neutral" rating on shares of Palo Alto Networks in a research note on Wednesday, September 2nd. Evercore restated an "outperform" rating on shares of Palo Alto Networks in a report on Monday, August 31st. Finally, DA Davidson increased their target price on Palo Alto Networks from $345.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Thirty-eight analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $391.32.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 1,000 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were 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 of the company's stock, valued at approximately $2,031,317.57. This trade represents a 15.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Goetz sold 20,000 shares of the business's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $376.68, for a total transaction of $7,533,600.00. The SEC filing for this sale provides additional information. Insiders sold 53,960 shares of company stock worth $20,719,959 over the last quarter. Corporate 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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