Palo Alto Networks, Inc. $PANW is Legacy Trust's 4th Largest Position

Key Points

• Legacy Trust has reduced its holdings in Palo Alto Networks, Inc. by 3.7% during the second quarter, now owning approximately 65,952 shares, making it the company's 4th largest position in their portfolio.
• Palo Alto Networks CEO Nikesh Arora significantly sold 846,408 shares, reducing his ownership by 75.48%, while the company reported a quarterly revenue increase of 15.8% year-over-year.
• Bank of America recently upgraded Palo Alto Networks to a "buy" rating with a price target of $215.00, reflecting positive sentiments among equities analysts regarding the stock's performance.

Legacy Trust decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,952 shares of the network technology company's stock after selling 2,508 shares during the quarter. Palo Alto Networks accounts for approximately 3.3% of Legacy Trust's portfolio, making the stock its 4th largest position. Legacy Trust's holdings in Palo Alto Networks were worth $13,496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PANW. Fortitude Advisory Group L.L.C. bought a new position in shares of Palo Alto Networks in the 2nd quarter worth $245,000. Marietta Wealth Management LLC grew its position in Palo Alto Networks by 1.6% in the second quarter. Marietta Wealth Management LLC now owns 47,424 shares of the network technology company's stock worth $9,705,000 after acquiring an additional 769 shares in the last quarter. Simplicity Wealth LLC increased its stake in Palo Alto Networks by 96.0% in the second quarter. Simplicity Wealth LLC now owns 2,572 shares of the network technology company's stock valued at $526,000 after acquiring an additional 1,260 shares during the last quarter. OLD National Bancorp IN raised its position in Palo Alto Networks by 16.1% during the second quarter. OLD National Bancorp IN now owns 19,722 shares of the network technology company's stock valued at $4,036,000 after purchasing an additional 2,729 shares in the last quarter. Finally, MBL Wealth LLC raised its position in Palo Alto Networks by 18.5% during the second quarter. MBL Wealth LLC now owns 1,863 shares of the network technology company's stock valued at $381,000 after purchasing an additional 291 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 846,408 shares of the company's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $204.06, for a total value of $172,718,016.48. Following the sale, the chief executive officer owned 275,013 shares in the company, valued at approximately $56,119,152.78. This represents a 75.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $172.80, for a total transaction of $17,280,000.00. Following the transaction, the executive vice president directly owned 3,143,516 shares of the company's stock, valued at $543,199,564.80. This represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,315,130 shares of company stock worth $259,351,606 over the last 90 days. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on PANW shares. Bank of America upgraded Palo Alto Networks from a "neutral" rating to a "buy" rating and set a $215.00 price objective on the stock in a research report on Tuesday, August 19th. Sanford C. Bernstein set a $207.00 target price on Palo Alto Networks and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Wedbush reissued an "outperform" rating and set a $225.00 price target on shares of Palo Alto Networks in a research note on Monday, September 15th. Rosenblatt Securities lowered their price objective on shares of Palo Alto Networks from $235.00 to $215.00 and set a "buy" rating for the company in a report on Thursday, August 14th. Finally, KeyCorp lowered shares of Palo Alto Networks from an "overweight" rating to a "sector weight" rating in a report on Thursday, July 31st. Thirty investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus price target of $214.64.

Palo Alto Networks Stock Down 1.0%

PANW opened at $207.19 on Friday. Palo Alto Networks, Inc. has a 52 week low of $144.15 and a 52 week high of $212.10. The stock has a market cap of $138.59 billion, a PE ratio of 129.09, a PEG ratio of 4.93 and a beta of 0.98. The business has a 50 day moving average of $190.20 and a 200-day moving average of $188.21.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted 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 business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.50 billion. Palo Alto Networks had a return on equity of 17.66% and a net margin of 12.30%.The firm's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $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. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.

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