HighTower Advisors LLC Has $126.08 Million Holdings in Palo Alto Networks, Inc. $PANW

Key Points

• HighTower Advisors LLC reduced its stake in Palo Alto Networks by 4.0% in the fourth quarter, selling 28,308 shares and ending with 684,472 shares worth about $126.1 million.
• Palo Alto Networks reported stronger-than-expected earnings, posting $1.03 EPS versus the $0.94 consensus estimate, while revenue rose 14.9% year over year to $2.59 billion.
• Analyst sentiment remains broadly positive, with several firms raising price targets and MarketBeat showing a consensus rating of “Moderate Buy” and an average target price of $219.49.

HighTower Advisors LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 684,472 shares of the network technology company's stock after selling 28,308 shares during the quarter. HighTower Advisors LLC owned about 0.10% of Palo Alto Networks worth $126,080,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PANW. Darwin Wealth Management LLC acquired a new position in Palo Alto Networks in the 2nd quarter valued at $25,000. Steph & Co. raised its holdings in Palo Alto Networks by 88.2% in the 4th quarter. Steph & Co. now owns 143 shares of the network technology company's stock valued at $26,000 after acquiring an additional 67 shares in the last quarter. Knuff & Co LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at $26,000. Luken Investment Analytics LLC grew its stake in Palo Alto Networks by 196.2% during the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company's stock worth $28,000 after buying an additional 102 shares in the last quarter. Finally, WHI TRUST Co LLC acquired a new stake in Palo Alto Networks during the fourth quarter worth about $28,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 3.0%

PANW opened at $240.13 on Wednesday. The company's 50 day moving average is $178.00 and its 200-day moving average is $181.34. Palo Alto Networks, Inc. has a 1-year low of $139.57 and a 1-year high of $248.85. The company has a market cap of $195.95 billion, a P/E ratio of 132.67, a PEG ratio of 8.92 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the company posted $0.81 EPS. The firm's quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 2.14 EPS for the current year.

Insider Buying and Selling

In related news, Director John P. Key sold 1,572 shares of the firm's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $173.32, for a total transaction of $272,459.04. Following the sale, the director owned 20,000 shares of the company's stock, valued at $3,466,400. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 1,100 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $161.40, for a total value of $177,540.00. Following the sale, the chief accounting officer directly owned 83,136 shares in the company, valued at approximately $13,418,150.40. This trade represents a 1.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,356 shares of company stock worth $4,981,575 in the last quarter. Corporate insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PANW shares. Argus upgraded shares of Palo Alto Networks to a "strong-buy" rating in a research note on Friday, February 20th. TD Cowen reiterated a "buy" rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Needham & Company LLC reduced their price objective on shares of Palo Alto Networks from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. Barclays reiterated an "overweight" rating and set a $220.00 price objective (up from $200.00) on shares of Palo Alto Networks in a research note on Monday, May 11th. Finally, HSBC reduced their price objective on shares of Palo Alto Networks from $157.00 to $114.00 in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $219.49.

Palo Alto Networks News Summary

Here are the key news stories impacting Palo Alto Networks this week:

• Positive Sentiment: Truist raised its price target to $275 and kept a Buy rating, signaling confidence in continued upside for Palo Alto Networks. Truist raises PANW target
• Positive Sentiment: Oppenheimer lifted its target to $275 and reiterated an Outperform rating after noting encouraging signs from the company’s CyberArk-related product launch and customer feedback. Oppenheimer lifts PANW target
• Positive Sentiment: Mizuho increased its target to $265 and maintained an Outperform rating, citing strength in subscriptions and possible upside to remaining performance obligations. Mizuho raises PANW target
• Positive Sentiment: Rosenblatt also raised its target to $275 and kept a Buy rating, adding to the broad analyst optimism around the stock. Rosenblatt positive forecast
• Positive Sentiment: CEO Nikesh Arora said AI is expected to help engineers ship more features, not reduce headcount, suggesting the company sees AI as a growth driver rather than a cost-cutting story. Business Insider article
• Neutral Sentiment: Insider buying was highlighted as value-positive, but the item is more of a confidence signal than a clear near-term catalyst. Insider buying article
• Neutral Sentiment: Recent commentary noted the stock has rallied sharply and is technically overbought, which could make it vulnerable to volatility if upcoming earnings disappoint. Technical analysis article

Palo Alto Networks Company Profile

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.