Palo Alto Networks, Inc. $PANW Shares Sold by Allworth Financial LP

Key Points

• Allworth Financial LP cut its Palo Alto Networks stake by 52.6% in the second quarter, selling 26,471 shares and retaining 23,837 shares valued at approximately $8.1 million. Institutional investors collectively own 79.82% of PANW.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $386.32; Piper Sandler and BMO Capital Markets recently raised their targets to $410 and $415, respectively.
• Palo Alto Networks beat quarterly expectations with $1.02 in EPS and $3.41 billion in revenue, while revenue increased 34.5% year over year. PANW opened at $335.10, compared with a 12-month range of $139.57 to $398.88.

Allworth Financial LP lowered its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 52.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,837 shares of the network technology company's stock after selling 26,471 shares during the period. Allworth Financial LP's holdings in Palo Alto Networks were worth $8,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Darwin Wealth Management LLC purchased a new stake in shares of Palo Alto Networks in the second quarter valued at approximately $25,000. Knuff & Co LLC purchased a new position in Palo Alto Networks during the fourth quarter worth approximately $26,000. Solstein Capital LLC acquired a new position in Palo Alto Networks during the second quarter worth $26,000. Sittner & Nelson LLC grew its holdings in Palo Alto Networks by 73.8% in the 4th quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 62 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in Palo Alto Networks in the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $410.00 target price (up from $345.00) on shares of Palo Alto Networks in a research note on Wednesday, September 2nd. Northland Securities set a $360.00 price target on shares of Palo Alto Networks and gave the company a "market perform" rating in a research report on Wednesday, September 2nd. New Street Research set a $415.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, August 18th. BMO Capital Markets restated an "outperform" rating and set a $415.00 price objective (up from $335.00) on shares of Palo Alto Networks in a research report on Thursday, August 20th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Palo Alto Networks in a research note on Wednesday, September 2nd. Thirty-nine investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus target price of $386.32.

Palo Alto Networks Price Performance

PANW stock opened at $335.10 on Thursday. The business's fifty day moving average price is $349.79 and its 200 day moving average price is $259.23. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $398.88. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $273.11 billion, a PE ratio of 657.07, a P/E/G ratio of 9.73 and a beta of 0.91.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results on Tuesday, September 1st. The network technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.04. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%.Palo Alto Networks's revenue was up 34.5% compared to the same quarter last year. During the same period in the previous year, the company 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. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.3 EPS for the current year.

Insider Transactions at Palo Alto Networks

In related news, Director John P. Key sold 7,500 shares of Palo Alto Networks stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $279.24, for a total value of $2,094,300.00. Following the completion of the transaction, the director owned 12,500 shares in the company, valued at approximately $3,490,500. The trade was a 37.50% 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, CAO Josh Paul sold 900 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $345.00, for a total transaction of $310,500.00. Following the sale, the chief accounting officer directly owned 79,644 shares in the company, valued at approximately $27,477,180. The trade was a 1.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 37,703 shares of company stock valued at $10,900,823. 1.40% of the stock is owned by corporate insiders.

About Palo Alto Networks

Palo Alto Networks, Inc is a cybersecurity company that provides security products and services to businesses, governments and other organizations worldwide. The company helps customers protect networks, cloud environments, endpoints, applications and connected devices from cyber threats.

Its portfolio includes next-generation firewalls and network security technologies, as well as cloud-delivered security solutions such as Prisma Access and Prisma Cloud. Palo Alto Networks also offers Cortex products for endpoint protection, security operations, threat detection and response, and automation.

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