Palo Alto Networks, Inc. $PANW Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB cut its Palo Alto Networks stake by 36.9% in the third quarter, selling 57,700 shares and retaining 98,565 shares valued at approximately $39.2 million. Institutional investors overall own 79.82% of PANW.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $398.55; 39 analysts rate the stock Buy and 11 rate it Hold.
• Palo Alto Networks reported quarterly revenue of $3.41 billion, up 34.5% year over year, and EPS of $1.02, exceeding estimates of $0.98. However, insiders sold 54,210 shares worth about $20.8 million over the past three months.

E. Ohman J or Asset Management AB lowered its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 36.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,565 shares of the network technology company's stock after selling 57,700 shares during the quarter. Palo Alto Networks accounts for approximately 0.9% of E. Ohman J or Asset Management AB's holdings, making the stock its 21st biggest holding. E. Ohman J or Asset Management AB's holdings in Palo Alto Networks were worth $39,161,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PANW. BlackRock Inc. acquired a new position in shares of Palo Alto Networks in the second quarter worth $25,833,462,000. Legal & General Group Plc purchased a new stake in shares of Palo Alto Networks in the second quarter valued at $1,968,304,000. Bank of New York Mellon Corp purchased a new stake in shares of Palo Alto Networks in the second quarter valued at $1,569,755,000. Deutsche Bank AG acquired a new stake in shares of Palo Alto Networks during the second quarter valued at $1,481,236,000. Finally, Bank of America Corp DE boosted its stake in shares of Palo Alto Networks by 16.0% during the first quarter. Bank of America Corp DE now owns 22,476,753 shares of the network technology company's stock valued at $3,603,473,000 after acquiring an additional 3,101,267 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Analyst Ratings Changes

PANW has been the subject of a number of recent research reports. Rosenblatt Securities lifted their price objective on Palo Alto Networks from $355.00 to $415.00 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. BNP Paribas Exane upped their target price on shares of Palo Alto Networks from $380.00 to $400.00 and gave the company an "outperform" rating in a report on Wednesday, September 2nd. Stephens set a $400.00 price target on shares of Palo Alto Networks and gave the stock an "equal weight" rating in a research note on Wednesday, September 2nd. Truist Financial set a $400.00 price target on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Finally, Mizuho set a $415.00 price target on shares of Palo Alto Networks and gave the stock an "outperform" rating in a report on Wednesday, August 19th. Thirty-nine investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $398.55.

Insider Activity at Palo Alto Networks

In related news, Director Aparna Bawa sold 250 shares of the stock in a transaction on Friday, October 9th. The stock was sold at an average price of $412.28, for a total value of $103,070.00. Following the transaction, the director directly owned 4,427 shares of the company's stock, valued at approximately $1,825,163.56. This trade represents a 5.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Key sold 2,500 shares of Palo Alto Networks stock in a transaction on Monday, September 14th. The shares were sold at an average price of $376.03, for a total value of $940,075.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $3,760,300. The trade was a 20.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 54,210 shares of company stock worth $20,823,029. 1.40% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 2.2%

PANW opened at $354.92 on Friday. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $432.33. The business has a 50-day moving average of $369.41 and a two-hundred day moving average of $307.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $290.32 billion, a price-to-earnings ratio of 695.94, a price-to-earnings-growth ratio of 9.99 and a beta of 0.93.

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 for the quarter, topping the consensus estimate of $0.98 by $0.04. Palo Alto Networks had a net margin of 2.67% and a return on equity of 8.50%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the firm posted $0.95 EPS. The company's revenue was up 34.5% on a year-over-year basis. 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, research analysts expect that Palo Alto Networks, Inc. will post 2.31 earnings per share for the current year.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc NASDAQ: PANW is a global cybersecurity company that helps organizations protect networks, cloud environments, endpoints, and digital infrastructure. Its offerings are designed to prevent cyberattacks, identify security risks, monitor activity, and support incident response across enterprise, government, and service-provider environments.

The company's portfolio includes network security products such as next-generation firewalls and security operations tools; Prisma, its cloud security platform; and Cortex, a suite focused on endpoint protection, threat detection, security analytics, and automated response.

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