Harvest Portfolios Group Inc. Sells 10,955 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• Harvest Portfolios Group Inc. reduced its stake in Palo Alto Networks, Inc. by 8.0%, selling 10,955 shares, and now owns 126,465 shares valued at approximately $21.58 million.
• Several hedge funds increased their positions significantly in Palo Alto Networks, with Nuveen LLC acquiring shares valued at about $810 million and GAMMA Investing LLC raising its stake by 18,802.8%.
• Insider activity revealed significant stock sales by executives, including EVP Nir Zuk selling 100,000 shares for $17.28 million, leading to a 3.08% decrease in his ownership.

Harvest Portfolios Group Inc. lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 8.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 126,465 shares of the network technology company's stock after selling 10,955 shares during the period. Harvest Portfolios Group Inc.'s holdings in Palo Alto Networks were worth $21,580,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PANW. Nuveen LLC purchased a new position in shares of Palo Alto Networks in the first quarter valued at about $810,047,000. Northern Trust Corp raised its position in Palo Alto Networks by 133.7% during the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after purchasing an additional 4,486,654 shares during the period. Nuveen Asset Management LLC raised its position in Palo Alto Networks by 98.0% during the fourth quarter. Nuveen Asset Management LLC now owns 6,158,580 shares of the network technology company's stock valued at $1,120,615,000 after purchasing an additional 3,047,625 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Palo Alto Networks by 92.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,951,283 shares of the network technology company's stock valued at $1,082,895,000 after purchasing an additional 2,862,718 shares during the period. Finally, GAMMA Investing LLC raised its position in Palo Alto Networks by 18,802.8% during the first quarter. GAMMA Investing LLC now owns 2,410,290 shares of the network technology company's stock valued at $411,292,000 after purchasing an additional 2,397,539 shares during the period. Institutional investors own 79.82% of the company's stock.

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $172.80, for a total transaction of $17,280,000.00. Following the transaction, the executive vice president directly owned 3,143,516 shares in the company, valued at $543,199,564.80. This represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $171.58, for a total value of $20,722,402.92. Following the transaction, the executive vice president owned 206,718 shares in the company, valued at $35,468,674.44. This trade represents a 36.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 669,948 shares of company stock worth $126,552,277 in the last 90 days. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Trading Down 0.7%

PANW stock opened at $184.55 on Tuesday. The business's 50-day moving average is $190.34 and its 200 day moving average is $186.25. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $210.39. The stock has a market cap of $123.06 billion, a price-to-earnings ratio of 114.98, a PEG ratio of 4.53 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. KeyCorp cut Palo Alto Networks from an "overweight" rating to a "sector weight" rating in a research note on Thursday, July 31st. Roth Capital assumed coverage on Palo Alto Networks in a research note on Thursday, May 15th. They issued a "neutral" rating and a $210.00 price objective on the stock. Sanford C. Bernstein set a $207.00 price objective on Palo Alto Networks and gave the company an "outperform" rating in a report on Tuesday, August 19th. Morgan Stanley increased their price objective on Palo Alto Networks from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. reduced their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Twenty-eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and an average target price of $211.52.

About Palo Alto Networks

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.

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