IFP Advisors Inc Buys 7,577 Shares of Palo Alto Networks, Inc. $PANW

IFP Advisors Inc grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,369 shares of the network technology company's stock after buying an additional 7,577 shares during the quarter. Palo Alto Networks accounts for approximately 0.7% of IFP Advisors Inc's holdings, making the stock its 17th largest position. IFP Advisors Inc's holdings in Palo Alto Networks were worth $39,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PANW. Darwin Wealth Management LLC purchased a new stake in Palo Alto Networks during the second quarter valued at $25,000. Knuff & Co LLC purchased a new position in Palo Alto Networks in the fourth quarter worth about $26,000. Solstein Capital LLC bought a new stake in shares of Palo Alto Networks during the 2nd quarter valued at about $26,000. Sittner & Nelson LLC increased its position in shares of Palo Alto Networks by 73.8% during the 4th quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Palo Alto Networks during the 2nd quarter valued at about $27,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Palo Alto Networks from $434.00 to $475.00 and gave the company an "outperform" rating in a research report on Wednesday, September 2nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $425.00 price target on shares of Palo Alto Networks in a research report on Tuesday. Stifel Nicolaus set a $415.00 price target on shares of Palo Alto Networks and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Berenberg Bank upped their price objective on Palo Alto Networks from $290.00 to $360.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Finally, DA Davidson raised their target price on Palo Alto Networks from $345.00 to $420.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. Thirty-nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $385.67.

Palo Alto Networks Trading Up 1.1%

Shares of Palo Alto Networks stock opened at $336.98 on Wednesday. The company has a market capitalization of $274.64 billion, a P/E ratio of 660.76, a P/E/G ratio of 9.62 and a beta of 0.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.87. The company has a fifty day moving average of $350.13 and a 200 day moving average of $257.94. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $398.88.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Tuesday, September 1st. The network technology company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.04. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%.The business had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period last year, the firm earned $0.95 earnings per share. The business's quarterly revenue was up 34.5% on a year-over-year basis. 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. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.3 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 290 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $348.74, for a total transaction of $101,134.60. Following the completion of the sale, the director directly owned 6,437 shares of the company's stock, valued at $2,244,839.38. This trade represents a 4.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Goetz sold 20,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $279.90, for a total transaction of $5,598,000.00. Following the sale, the director owned 20,000 shares in the company, valued at approximately $5,598,000. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,258 shares of company stock worth $11,050,673 in the last three months. Corporate insiders own 1.40% of the company's stock.

Palo Alto Networks Profile

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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