Corient Private Wealth LP Increases Stock Position in Palo Alto Networks, Inc. $PANW

Key Points

• Corient Private Wealth increased its Palo Alto Networks stake by 36.2% in the second quarter, purchasing 290,750 additional shares for a total holding of 1.095 million shares valued at approximately $373.4 million. Institutional investors collectively own 79.82% of PANW.
• Palo Alto Networks reported quarterly earnings of $1.02 per share, beating estimates of $0.98, while revenue rose 34.5% year over year to $3.41 billion, above expectations.
• Analyst sentiment remains positive, with 39 Buy ratings and 11 Hold ratings and an average price target of $386.32. PANW shares opened at $338.49, while insiders have sold 9,667 shares worth about $3.06 million over the past 90 days.

Corient Private Wealth LP lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 36.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,095,028 shares of the network technology company's stock after purchasing an additional 290,750 shares during the quarter. Corient Private Wealth LP owned 0.13% of Palo Alto Networks worth $373,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in shares of Palo Alto Networks by 35,252.4% during the 2nd quarter. California State Teachers Retirement System now owns 417,760,413 shares of the network technology company's stock valued at $142,464,656,000 after buying an additional 416,578,710 shares during the period. BlackRock Inc. purchased a new position in Palo Alto Networks during the second quarter valued at approximately $25,833,462,000. State Street Corp boosted its holdings in Palo Alto Networks by 2.0% in the 4th 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 period. Bank of America Corp DE boosted its stake in shares of Palo Alto Networks by 0.9% in the second quarter. Bank of America Corp DE now owns 22,681,876 shares of the network technology company's stock worth $7,734,973,000 after acquiring an additional 205,123 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 540,756 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 900 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $373.68, for a total value of $336,312.00. Following the sale, the chief accounting officer owned 72,484 shares in the company, valued at $27,085,821.12. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Helle Thorning-Schmidt sold 700 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $346.85, for a total value of $242,795.00. Following the completion of the sale, the director owned 5,898 shares in the company, valued at approximately $2,045,721.30. This represents a 10.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 9,667 shares of company stock valued at $3,058,443. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $338.49 on Friday. Palo Alto Networks, Inc. has a 52 week low of $139.57 and a 52 week high of $398.88. The company has a 50 day moving average price of $349.60 and a 200 day moving average price of $260.57. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $275.87 billion, a P/E ratio of 663.72, a PEG ratio of 9.76 and a beta of 0.91.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Tuesday, September 1st. The network technology company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.04. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. Palo Alto Networks had a net margin of 2.67% and a return on equity of 8.50%. The business's quarterly revenue was up 34.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. 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. Sell-side analysts expect that Palo Alto Networks, Inc. will post 2.28 EPS for the current year.

Analysts Set New Price Targets

PANW has been the topic of several research analyst reports. Barclays reiterated an "overweight" rating and issued a $375.00 price target (up from $370.00) 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. Cantor Fitzgerald reissued an "overweight" rating and set a $425.00 price target on shares of Palo Alto Networks in a research note on Tuesday. Phillip Securities downgraded shares of Palo Alto Networks from a "moderate buy" rating to a "hold" rating and upped their target price for the stock from $320.00 to $346.00 in a research note on Monday. Finally, HSBC lowered their target price on Palo Alto Networks from $201.00 to $190.00 in a report on Thursday, September 3rd. Thirty-nine analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $386.32.

About Palo Alto Networks

Palo Alto Networks, Inc is a cybersecurity company that provides security products and services to businesses, governments and other organizations worldwide. The company helps customers protect networks, cloud environments, endpoints, applications and connected devices from cyber threats.

Its portfolio includes next-generation firewalls and network security technologies, as well as cloud-delivered security solutions such as Prisma Access and Prisma Cloud. Palo Alto Networks also offers Cortex products for endpoint protection, security operations, threat detection and response, and automation.

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