City Holding Co. Sells 3,755 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• City Holding Co. reduced its Palo Alto Networks stake by 19.1%, selling 3,755 shares and retaining 15,915 shares valued at approximately $5.43 million. Institutional investors collectively own 79.82% of PANW.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $333.76. Recent target increases included Wedbush to $340 and RBC to $330.
• Palo Alto Networks reported quarterly EPS of $0.85, exceeding estimates by $0.06, while revenue reached $3 billion, up 31.1% year over year. Shares opened at $385.04, near their 52-week high, although insiders sold more than $27.17 million of stock during the quarter.

City Holding Co. cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 19.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,915 shares of the network technology company's stock after selling 3,755 shares during the period. City Holding Co.'s holdings in Palo Alto Networks were worth $5,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PANW. Vanguard Group Inc. increased its position in shares of Palo Alto Networks by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 67,929,063 shares of the network technology company's stock valued at $12,512,533,000 after purchasing an additional 2,659,100 shares during the last quarter. State Street Corp lifted its position in Palo Alto Networks by 2.0% in the fourth quarter. State Street Corp now owns 30,331,705 shares of the network technology company's stock worth $5,587,100,000 after buying an additional 594,789 shares during the last quarter. Bank of America Corp DE boosted its stake in Palo Alto Networks by 16.0% during the first quarter. Bank of America Corp DE now owns 22,476,753 shares of the network technology company's stock worth $3,603,473,000 after buying an additional 3,101,267 shares during the period. Geode Capital Management LLC boosted its stake in Palo Alto Networks by 3.5% during the fourth 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 period. Finally, Norges Bank bought a new position in Palo Alto Networks during the fourth quarter valued at $1,415,364,000. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PANW shares. 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 note on Wednesday, June 3rd. William Blair reiterated an "outperform" rating on shares of Palo Alto Networks in a report on Tuesday, June 16th. UBS Group set a $300.00 price objective on shares of Palo Alto Networks and gave the stock a "neutral" rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada raised their price objective on shares of Palo Alto Networks from $255.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 3rd. Finally, Northland Securities boosted their target price on Palo Alto Networks from $190.00 to $302.00 and gave the company a "market perform" rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average target price of $333.76.

Palo Alto Networks Stock Up 5.8%

Shares of NASDAQ PANW opened at $385.04 on Tuesday. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $385.17. The firm has a market capitalization of $313.81 billion, a price-to-earnings ratio of 315.61, a PEG ratio of 12.21 and a beta of 0.91. The stock has a 50 day moving average price of $319.57 and a 200 day moving average price of $229.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Tuesday, June 2nd. The network technology company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.94 billion. Palo Alto Networks had a return on equity of 10.53% and a net margin of 7.95%.Palo Alto Networks's quarterly revenue was up 31.1% on a year-over-year basis. During the same period last year, the business posted $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. Sell-side analysts expect that Palo Alto Networks, Inc. will post 2.02 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other news, Director James J. Goetz sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 20,000 shares in the company, valued at approximately $5,598,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $289.56, for a total transaction of $1,447,800.00. Following the transaction, the executive vice president directly owned 145,250 shares in the company, valued at approximately $42,058,590. The trade was a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 101,239 shares of company stock worth $27,174,360 over the last quarter. Corporate insiders own 1.40% of the company's stock.

About Palo Alto Networks

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.

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.

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