LeConte Wealth Management LLC Boosts Position in Palo Alto Networks, Inc. $PANW

Key Points

• LeConte Wealth Management LLC increased its position in Palo Alto Networks by 78.6% in the second quarter, bringing its holdings to 3,633 shares valued at $743,000.
• Palo Alto Networks reported earnings of $0.95 per share, exceeding analyst expectations of $0.89, with a revenue of $2.54 billion for the quarter, marking a year-over-year increase of 15.8%.
• On Wall Street, Palo Alto Networks has strong analyst support, with a consensus rating of "Moderate Buy" and an average target price of $212.39.

LeConte Wealth Management LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 78.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,633 shares of the network technology company's stock after buying an additional 1,599 shares during the period. Palo Alto Networks accounts for approximately 0.5% of LeConte Wealth Management LLC's portfolio, making the stock its 29th biggest holding. LeConte Wealth Management LLC's holdings in Palo Alto Networks were worth $743,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PANW. St. Clair Advisors LLC raised its position in Palo Alto Networks by 0.3% in the second quarter. St. Clair Advisors LLC now owns 15,800 shares of the network technology company's stock worth $3,233,000 after acquiring an additional 50 shares in the last quarter. Csenge Advisory Group boosted its stake in Palo Alto Networks by 2.4% in the 1st quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company's stock worth $381,000 after buying an additional 53 shares during the last quarter. GSG Advisors LLC raised its holdings in shares of Palo Alto Networks by 0.4% in the 1st quarter. GSG Advisors LLC now owns 12,450 shares of the network technology company's stock worth $2,154,000 after purchasing an additional 54 shares during the period. SYM FINANCIAL Corp raised its holdings in shares of Palo Alto Networks by 1.4% during the 1st quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company's stock valued at $691,000 after buying an additional 55 shares during the period. Finally, Crew Capital Management Ltd. raised its holdings in shares of Palo Alto Networks by 2.5% during the 1st quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock valued at $394,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $200.70 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $144.15 and a 52-week high of $210.39. The company has a market cap of $134.25 billion, a P/E ratio of 125.05, a P/E/G ratio of 4.84 and a beta of 0.98. The stock's 50-day simple moving average is $189.33 and its 200 day simple moving average is $186.99.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Monday, August 18th. The network technology company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. 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 predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction dated 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $184.20, for a total value of $128,940.00. Following the transaction, the chief accounting officer owned 37,723 shares of the company's stock, valued at $6,948,576.60. This trade represents a 1.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,415,030 shares of company stock valued at $279,198,494 over the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PANW has been the subject of several research reports. Bank of America upgraded Palo Alto Networks from a "neutral" rating to a "buy" rating and set a $215.00 target price for the company in a research report on Tuesday, August 19th. Cantor Fitzgerald reissued an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research note on Friday, August 15th. Truist Financial set a $220.00 target price on Palo Alto Networks and gave the stock a "buy" rating in a research report on Tuesday, August 19th. Barclays reaffirmed an "overweight" rating and set a $215.00 target price (up from $210.00) on shares of Palo Alto Networks in a research report on Tuesday, August 19th. Finally, Scotiabank lifted their price target on Palo Alto Networks from $225.00 to $228.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 19th. Twenty-nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $212.39.

Palo Alto Networks Company 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.

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.