Palo Alto Networks, Inc. $PANW Shares Acquired by Allen Investment Management LLC

Key Points

• Allen Investment Management increased its Palo Alto Networks stake by 40.3% in the third quarter, adding 65,025 shares to hold 226,514 shares valued at about $90 million.
• Palo Alto Networks beat quarterly expectations, reporting EPS of $1.02 versus $0.98 expected and revenue of $3.41 billion; revenue rose 34.5% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $398.55, while company directors sold shares and insiders collectively sold 54,210 shares over the past three months.

Allen Investment Management LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 40.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 226,514 shares of the network technology company's stock after buying an additional 65,025 shares during the period. Palo Alto Networks accounts for about 1.0% of Allen Investment Management LLC's holdings, making the stock its 28th biggest holding. Allen Investment Management LLC's holdings in Palo Alto Networks were worth $90,012,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Solstein Capital LLC acquired a new position in shares of Palo Alto Networks during the 2nd quarter valued at about $26,000. N.E.W. Advisory Services LLC purchased a new position in Palo Alto Networks during the second quarter worth about $27,000. Delos Wealth Advisors LLC purchased a new position in Palo Alto Networks during the second quarter worth about $28,000. Principia Wealth Advisory LLC raised its stake in Palo Alto Networks by 125.0% during the second quarter. Principia Wealth Advisory LLC now owns 81 shares of the network technology company's stock worth $28,000 after purchasing an additional 45 shares during the period. Finally, Putney Financial Group LLC acquired a new position in Palo Alto Networks in the 3rd quarter valued at about $31,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director James Goetz sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $376.68, for a total value of $7,533,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Key sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The stock was 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 in the company, valued at approximately $3,760,300. This trade represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 54,210 shares of company stock valued at $20,823,029. 1.40% of the stock is owned by insiders.

Palo Alto Networks Stock Down 0.3%

Shares of PANW opened at $313.84 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $432.33. The stock has a market capitalization of $256.96 billion, a PE ratio of 615.38, a P/E/G ratio of 9.00 and a beta of 0.96. The company's 50-day simple moving average is $370.30 and its 200-day simple moving average is $273.58.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Tuesday, September 1st. The network technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.04. The business had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.35 billion. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%. The business's quarterly revenue was up 34.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. 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 2.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PANW. Citizens Jmp increased their price target on shares of Palo Alto Networks from $320.00 to $415.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 12th. Roth Capital restated a "neutral" rating and set a $300.00 price target (up from $210.00) on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Phillip Securities lowered shares of Palo Alto Networks from a "moderate buy" rating to a "hold" rating and lifted their price target for the company from $320.00 to $346.00 in a research report on Monday, September 7th. Mizuho set a $415.00 price objective on Palo Alto Networks and gave the company an "outperform" rating in a report on Wednesday, August 19th. Finally, Susquehanna increased their price objective on Palo Alto Networks from $350.00 to $415.00 and gave the stock a "positive" rating in a research report on Wednesday, September 2nd. Thirty-nine research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average price target of $398.55.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc is a cybersecurity company that provides products and services to help organizations protect their networks, cloud environments, devices and applications. Its offerings include next-generation firewalls, cloud security tools, secure access services and platforms for detecting and responding to cyber threats.

The company's product portfolio includes Prisma for cloud and network security and Cortex for security operations, including threat detection and response. It also provides cybersecurity consulting and incident-response services through Unit 42.

Founded in 2005 and headquartered in Santa Clara, California, Palo Alto Networks serves businesses, government agencies and other organizations around the world.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report).

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.