Palo Alto Networks, Inc. $PANW Stock: Calamos Wealth Management LLC Decreases Holdings

Key Points

• Calamos Wealth Management cut its Palo Alto Networks stake by 42% in the third quarter, selling 19,997 shares and ending the period with 27,604 shares valued at about $11 million.
• Palo Alto Networks reported quarterly earnings of $1.02 per share, beating the $0.98 consensus, while revenue rose 34.5% year over year to $3.41 billion.
• Analysts maintain a Moderate Buy consensus, with an average price target of $398.55; 39 analysts rate the stock Buy and 11 rate it Hold.

Calamos Wealth Management LLC trimmed its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 42.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,604 shares of the network technology company's stock after selling 19,997 shares during the quarter. Calamos Wealth Management LLC's holdings in Palo Alto Networks were worth $10,967,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Palo Alto Networks during the second quarter worth about $25,833,462,000. State Street Corp boosted its position in Palo Alto Networks by 4.2% in the 2nd quarter. State Street Corp now owns 36,979,497 shares of the network technology company's stock worth $12,610,748,000 after purchasing an additional 1,493,179 shares in the last quarter. Bank of America Corp DE boosted its position in Palo Alto Networks by 0.9% in the 2nd quarter. Bank of America Corp DE now owns 22,681,876 shares of the network technology company's stock worth $7,734,973,000 after purchasing an additional 205,123 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Palo Alto Networks by 8.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,778,963 shares of the network technology company's stock worth $2,993,802,000 after purchasing an additional 706,003 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Palo Alto Networks during the 2nd quarter worth approximately $1,968,304,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

PANW traded down $0.83 during midday trading on Friday, hitting $313.84. 6,284,640 shares of the company traded hands, compared to its average volume of 5,572,887. The business has a 50 day simple moving average of $370.30 and a two-hundred day simple moving average of $273.58. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $432.33. The company has a market capitalization of $256.96 billion, a price-to-earnings ratio of 615.38, a PEG ratio of 10.09 and a beta of 0.96. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. Palo Alto Networks had a net margin of 2.67% and a return on equity of 8.50%. The company's revenue for the quarter was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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, equities analysts forecast that Palo Alto Networks, Inc. will post 2.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PANW has been the subject of several analyst reports. Evercore reiterated an "outperform" rating on shares of Palo Alto Networks in a research note on Monday, August 31st. DA Davidson raised their price target on shares of Palo Alto Networks from $345.00 to $420.00 and gave the company a "buy" rating in a research report on Wednesday, September 2nd. Tigress Financial lifted their price objective on shares of Palo Alto Networks from $245.00 to $430.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Northland Securities set a $360.00 price objective on shares of Palo Alto Networks and gave the stock a "market perform" rating in a research report on Wednesday, September 2nd. Finally, BTIG Research increased their target price on shares of Palo Alto Networks from $404.00 to $425.00 and gave the stock a "buy" rating in a research note on Monday, September 28th. Thirty-nine investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $398.55.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Dipak Golechha sold 27,500 shares of the business's stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $391.60, for a total transaction of $10,769,000.00. Following the completion of the sale, the executive vice president directly owned 117,750 shares in the company, valued at approximately $46,110,900. The trade was a 18.93% 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 the SEC website. Also, Director John Key sold 2,500 shares of the 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 directly owned 10,000 shares of the company's stock, valued at approximately $3,760,300. This represents a 20.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 54,210 shares of company stock valued at $20,823,029. 1.40% of the stock is owned by insiders.

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.

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