Occidental Asset Management LLC Makes New Investment in Palo Alto Networks, Inc. $PANW

Key Points

• Occidental Asset Management bought 3,301 Palo Alto Networks shares worth approximately $1.13 million in the second quarter. Institutional investors and hedge funds collectively own 79.82% of PANW.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $342.61; several firms recently raised their targets, including RBC to $434.
• Palo Alto Networks beat quarterly expectations with $0.85 EPS and $3 billion in revenue, up 31.1% year over year. However, insiders sold roughly 101,239 shares worth $27.2 million over the past 90 days.

Occidental Asset Management LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,301 shares of the network technology company's stock, valued at approximately $1,126,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Palo Alto Networks by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 67,929,063 shares of the network technology company's stock valued at $12,512,533,000 after acquiring an additional 2,659,100 shares in the last quarter. State Street Corp increased its holdings in Palo Alto Networks by 2.0% during the 4th quarter. State Street Corp now owns 30,331,705 shares of the network technology company's stock worth $5,587,100,000 after purchasing an additional 594,789 shares during the period. Bank of America Corp DE increased its holdings in Palo Alto Networks by 16.0% during the 1st quarter. Bank of America Corp DE now owns 22,476,753 shares of the network technology company's stock worth $3,603,473,000 after purchasing an additional 3,101,267 shares during the period. Geode Capital Management LLC raised its position in Palo Alto Networks by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 15,989,257 shares of the network technology company's stock valued at $2,934,935,000 after purchasing an additional 540,756 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Palo Alto Networks in the 4th quarter valued at about $1,415,364,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PANW has been the subject of a number of analyst reports. Wedbush boosted their price objective on Palo Alto Networks from $300.00 to $340.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 3rd. Citizens Jmp lifted their price target on shares of Palo Alto Networks from $320.00 to $415.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 12th. Truist Financial boosted their price target on shares of Palo Alto Networks from $275.00 to $375.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Stifel Nicolaus set a $340.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, June 3rd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $434.00 price objective (up from $330.00) on shares of Palo Alto Networks in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, forty have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $342.61.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,100 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $285.08, for a total transaction of $313,588.00. Following the transaction, the chief accounting officer owned 81,636 shares of the company's stock, valued at approximately $23,272,790.88. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James J. Goetz sold 20,000 shares of Palo Alto Networks stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $279.90, for a total value of $5,598,000.00. Following the sale, the director owned 20,000 shares in the company, valued at $5,598,000. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 101,239 shares of company stock valued at $27,174,360 over the last ninety days. Company insiders own 1.40% of the company's stock.

Palo Alto Networks Stock Down 2.2%

Shares of NASDAQ:PANW opened at $375.76 on Tuesday. The company has a market capitalization of $306.24 billion, a PE ratio of 308.00, a P/E/G ratio of 12.89 and a beta of 0.91. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. Palo Alto Networks, Inc. has a twelve month low of $139.57 and a twelve month high of $398.88. The firm has a 50 day simple moving average of $330.20 and a 200-day simple moving average of $237.05.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.06. The business had revenue of $3 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $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. On average, equities analysts predict that Palo Alto Networks, Inc. will post 2.02 EPS for the current fiscal year.

Palo Alto Networks 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.

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