NewEdge Wealth LLC Sells 28,679 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• NewEdge Wealth LLC cut its Palo Alto Networks stake by 33.9% in the first quarter, selling 28,679 shares and ending with 55,972 shares valued at about $8.97 million.
• Palo Alto Networks reported a strong quarter, with EPS of $0.85 and revenue of $3.0 billion, both ahead of expectations; revenue rose 31.1% year over year.
• Wall Street remains mostly bullish on PANW, with several analysts raising price targets and a consensus rating of “Moderate Buy” and average target price of $331.48.

NewEdge Wealth LLC lessened its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 33.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,972 shares of the network technology company's stock after selling 28,679 shares during the quarter. NewEdge Wealth LLC's holdings in Palo Alto Networks were worth $8,973,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in shares of Palo Alto Networks in the 2nd quarter worth approximately $25,000. Steph & Co. raised its stake in Palo Alto Networks by 88.2% during the fourth quarter. Steph & Co. now owns 143 shares of the network technology company's stock valued at $26,000 after buying an additional 67 shares during the last quarter. Knuff & Co LLC purchased a new position in Palo Alto Networks during the fourth quarter valued at $26,000. Sittner & Nelson LLC boosted its holdings in Palo Alto Networks by 73.8% in the fourth quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 62 shares in the last quarter. Finally, Luken Investment Analytics LLC boosted its holdings in Palo Alto Networks by 196.2% in the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company's stock worth $28,000 after acquiring an additional 102 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Down 2.9%

Shares of Palo Alto Networks stock opened at $325.63 on Friday. Palo Alto Networks, Inc. has a twelve month low of $139.57 and a twelve month high of $368.80. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. The company's 50 day moving average is $299.17 and its 200 day moving average is $216.83. The company has a market cap of $265.39 billion, a price-to-earnings ratio of 266.91, a price-to-earnings-growth ratio of 12.45 and a beta of 0.91.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.06. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.94 billion. Palo Alto Networks had a net margin of 7.95% and a return on equity of 10.53%. The company's quarterly revenue was up 31.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS. Palo Alto Networks has set its FY 2026 guidance at 3.770-3.790 EPS and its Q4 2026 guidance at 0.960-0.980 EPS. Research analysts anticipate that Palo Alto Networks, Inc. will post 2.03 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PANW shares. William Blair restated an "outperform" rating on shares of Palo Alto Networks in a report on Tuesday, June 16th. Oppenheimer upped their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 3rd. Mizuho increased their price objective on shares of Palo Alto Networks from $265.00 to $305.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. Cantor Fitzgerald set a $340.00 price objective on shares of Palo Alto Networks and gave the company an "overweight" rating in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada lifted their target price on shares of Palo Alto Networks from $255.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, forty have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus price target of $331.48.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $289.56, for a total transaction of $1,447,800.00. Following the completion of the sale, the executive vice president directly owned 145,250 shares in the company, valued at $42,058,590. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James J. Goetz sold 20,000 shares of the company's stock in a transaction dated 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 directly owned 20,000 shares of the company's stock, valued at $5,598,000. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 101,239 shares of company stock valued at $27,174,360 in the last 90 days. 1.40% of the stock is owned by company insiders.

About Palo Alto Networks

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.

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