Eastern Bank Sells 4,576 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• Eastern Bank reduced its stake in Palo Alto Networks by 1.8%, selling 4,576 shares, and now holds 249,225 shares valued at approximately $51 million.
• Insider trading activity included CEO Nikesh Arora selling 846,408 shares, resulting in a 75.48% decrease in his ownership of the stock, while EVP Dipak Golechha sold 5,000 shares.
• Palo Alto Networks reported a 15.8% year-over-year revenue increase in its recent earnings, with quarterly revenue of $2.54 billion and a return on equity of 17.66%.

Eastern Bank lowered its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 249,225 shares of the network technology company's stock after selling 4,576 shares during the quarter. Eastern Bank's holdings in Palo Alto Networks were worth $51,001,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $261,000. Strive Asset Management LLC raised its holdings in shares of Palo Alto Networks by 16.6% in the 1st quarter. Strive Asset Management LLC now owns 2,099 shares of the network technology company's stock worth $358,000 after buying an additional 299 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Palo Alto Networks by 10.8% in the 1st quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock worth $2,410,000 after buying an additional 1,374 shares in the last quarter. Czech National Bank raised its holdings in shares of Palo Alto Networks by 6.4% in the 2nd quarter. Czech National Bank now owns 161,840 shares of the network technology company's stock worth $33,119,000 after buying an additional 9,766 shares in the last quarter. Finally, Avity Investment Management Inc. raised its holdings in shares of Palo Alto Networks by 37.9% in the 2nd quarter. Avity Investment Management Inc. now owns 181,691 shares of the network technology company's stock worth $37,181,000 after buying an additional 49,971 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Insider Buying and Selling

In other news, EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $204.19, for a total value of $1,020,950.00. Following the transaction, the executive vice president directly owned 96,135 shares in the company, valued at $19,629,805.65. This trade represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nikesh Arora sold 846,408 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $204.06, for a total value of $172,718,016.48. Following the completion of the transaction, the chief executive officer owned 275,013 shares in the company, valued at $56,119,152.78. This represents a 75.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,315,130 shares of company stock worth $260,687,367. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $208.55 on Friday. The stock has a fifty day moving average of $192.94 and a 200-day moving average of $189.14. The stock has a market capitalization of $139.50 billion, a P/E ratio of 129.94, a price-to-earnings-growth ratio of 5.12 and a beta of 0.98. Palo Alto Networks, Inc. has a 52 week low of $144.15 and a 52 week high of $217.94.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results on Monday, August 18th. The network technology company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $2.54 billion during the quarter, compared to analysts' expectations of $2.50 billion. Palo Alto Networks had a return on equity of 17.66% and a net margin of 12.30%.The business's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. Palo Alto Networks has set its FY 2026 guidance at 3.750-3.850 EPS. Q1 2026 guidance at 0.880-0.900 EPS. Equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of a number of recent research reports. Westpark Capital reissued a "hold" rating on shares of Palo Alto Networks in a report on Tuesday, August 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a report on Friday, August 15th. UBS Group set a $245.00 price target on Palo Alto Networks in a report on Friday, September 26th. Barclays reaffirmed an "overweight" rating and set a $215.00 price target (up from $210.00) on shares of Palo Alto Networks in a report on Tuesday, August 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $212.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 19th. Twenty-eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.95.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.