Commerce Bank purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 590,311 shares of the network technology company's stock, valued at approximately $201,308,000. Palo Alto Networks comprises approximately 0.9% of Commerce Bank's portfolio, making the stock its 21st biggest holding. Commerce Bank owned approximately 0.07% of Palo Alto Networks as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Palo Alto Networks in the second quarter worth about $25,833,462,000. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 2,659,100 shares during the period. State Street Corp lifted 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 buying an additional 594,789 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Palo Alto Networks by 16.0% during the 1st quarter. Bank of America Corp DE now owns 22,476,753 shares of the network technology company's stock valued at $3,603,473,000 after acquiring an additional 3,101,267 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Palo Alto Networks by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 15,989,257 shares of the network technology company's stock valued at $2,934,935,000 after acquiring an additional 540,756 shares during the period. Institutional investors own 79.82% of the company's stock.
Wall Street Analysts Forecast Growth
PANW has been the subject of a number of analyst reports. Tigress Financial increased their price objective on shares of Palo Alto Networks from $245.00 to $430.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Truist Financial set a $435.00 target price on shares of Palo Alto Networks and gave the company a "buy" rating in a research note on Wednesday. Wedbush upped their target price on shares of Palo Alto Networks from $300.00 to $340.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. New Street Research set a $415.00 price target on Palo Alto Networks in a report on Tuesday. Finally, Jefferies Financial Group set a $335.00 price objective on Palo Alto Networks and gave the company a "buy" rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, forty have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $362.67.
View Our Latest Stock Analysis on Palo Alto Networks
Insider Activity
In other news, CAO Josh D. Paul sold 1,100 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $285.08, for a total value of $313,588.00. Following the sale, the chief accounting officer directly owned 81,636 shares in the company, valued at approximately $23,272,790.88. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $289.56, for a total value of $1,447,800.00. Following the sale, the executive vice president directly owned 145,250 shares of the company's stock, valued at $42,058,590. This represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 37,935 shares of company stock valued at $10,809,461. 1.40% of the stock is currently owned by corporate insiders.
Palo Alto Networks Price Performance
Palo Alto Networks stock opened at $358.04 on Friday. The company has a market cap of $291.80 billion, a price-to-earnings ratio of 293.48, a PEG ratio of 12.02 and a beta of 0.91. The firm's fifty day moving average is $337.38 and its 200 day moving average is $241.72. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $398.88.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue for the quarter was up 31.1% on a year-over-year basis. During the same period last year, the company 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. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 2.02 EPS for the current fiscal year.
About Palo Alto Networks
(
Free Report)
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.
Further Reading
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).
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