Lmcg Investments LLC Sells 17,745 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• Lmcg Investments cut its Palo Alto Networks stake by 30.7%, selling 17,745 shares and retaining 40,039 shares valued at approximately $15.9 million.
• Institutional investors and hedge funds own 79.82% of PANW, while insiders have sold 54,210 shares worth $20.8 million over the past 90 days.
• Palo Alto Networks recently beat quarterly earnings and revenue expectations, with revenue rising 34.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $398.55.

Lmcg Investments LLC reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 30.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,039 shares of the network technology company's stock after selling 17,745 shares during the quarter. Lmcg Investments LLC's holdings in Palo Alto Networks were worth $15,908,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Palo Alto Networks in the 2nd quarter worth approximately $25,833,462,000. State Street Corp grew its position in Palo Alto Networks by 4.2% in the second quarter. State Street Corp now owns 36,979,497 shares of the network technology company's stock valued at $12,610,748,000 after acquiring an additional 1,493,179 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Palo Alto Networks by 0.9% during the second quarter. Bank of America Corp DE now owns 22,681,876 shares of the network technology company's stock valued at $7,734,973,000 after purchasing an additional 205,123 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Palo Alto Networks by 8.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,778,963 shares of the network technology company's stock valued at $2,993,802,000 after purchasing an additional 706,003 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Palo Alto Networks by 4.4% during the first quarter. First Trust Advisors LP now owns 6,466,118 shares of the network technology company's stock valued at $1,036,648,000 after purchasing an additional 273,103 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of PANW opened at $347.25 on Thursday. The business's 50 day moving average is $370.23 and its two-hundred day moving average is $305.93. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $432.33. The firm has a market cap of $284.05 billion, a price-to-earnings ratio of 680.90, a PEG ratio of 9.79 and a beta of 0.93. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results on Tuesday, September 1st. The network technology company reported $1.02 EPS for the quarter, beating the consensus estimate 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 company had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same period in the prior year, the business posted $0.95 EPS. The business's 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. Analysts forecast that Palo Alto Networks, Inc. will post 2.31 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, Director John Key sold 2,500 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $376.03, for a total transaction of $940,075.00. Following the transaction, the director owned 10,000 shares of the company's stock, valued at approximately $3,760,300. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dipak Golechha sold 27,500 shares of Palo Alto Networks stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $391.60, for a total value of $10,769,000.00. Following the completion of the transaction, the executive vice president owned 117,750 shares of the company's stock, valued at $46,110,900. This trade represents a 18.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,210 shares of company stock valued at $20,823,029 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PANW has been the topic of a number of recent research reports. UBS Group reissued a "neutral" rating and set a $390.00 target price (up from $300.00) on shares of Palo Alto Networks in a research report on Wednesday, August 19th. Benchmark raised their price target on shares of Palo Alto Networks from $340.00 to $400.00 and gave the company a "buy" rating in a report on Monday, August 24th. Stephens set a $400.00 price target on shares of Palo Alto Networks and gave the stock an "equal weight" rating in a research note on Wednesday, September 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $410.00 price target (up from $345.00) on shares of Palo Alto Networks in a research note on Wednesday, September 2nd. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $415.00 price objective (up from $335.00) on shares of Palo Alto Networks in a report on Thursday, August 20th. Thirty-nine equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $398.55.

Palo Alto Networks Profile

Palo Alto Networks, Inc NASDAQ: PANW is a global cybersecurity company that helps organizations protect networks, cloud environments, endpoints, and digital infrastructure. Its offerings are designed to prevent cyberattacks, identify security risks, monitor activity, and support incident response across enterprise, government, and service-provider environments.

The company's portfolio includes network security products such as next-generation firewalls and security operations tools; Prisma, its cloud security platform; and Cortex, a suite focused on endpoint protection, threat detection, security analytics, and automated response.

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.