Palo Alto Networks, Inc. $PANW Stock Sold by International Assets Investment Management LLC

Key Points

• International Assets Investment Management cut its Palo Alto Networks stake by 26.3% in the third quarter, selling 6,539 shares and retaining 18,319 shares valued at about $7.26 million.
• 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.
• Palo Alto Networks beat quarterly estimates, reporting EPS of $1.02 versus $0.98 expected and revenue of $3.41 billion, up 34.5% year over year.

International Assets Investment Management LLC lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 26.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,319 shares of the network technology company's stock after selling 6,539 shares during the quarter. International Assets Investment Management LLC's holdings in Palo Alto Networks were worth $7,259,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at approximately $25,833,462,000. Legal & General Group Plc acquired a new position in Palo Alto Networks during the second quarter valued at approximately $1,968,304,000. Bank of New York Mellon Corp acquired a new position in Palo Alto Networks during the second quarter valued at approximately $1,569,755,000. Deutsche Bank AG acquired a new position in Palo Alto Networks during the second quarter valued at approximately $1,481,236,000. Finally, Bank of America Corp DE increased its stake in Palo Alto Networks by 16.0% in 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 purchasing an additional 3,101,267 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PANW shares. Truist Financial set a $400.00 target price on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Piper Sandler reissued an "overweight" rating and set a $410.00 price target (up from $345.00) on shares of Palo Alto Networks in a research report on Wednesday, September 2nd. Jefferies Financial Group reissued a "buy" rating and issued a $450.00 price target (up from $335.00) on shares of Palo Alto Networks in a report on Friday, August 28th. Wedbush began coverage on shares of Palo Alto Networks in a research report on Friday, September 11th. They issued an "outperform" rating and a $400.00 price objective for the company. Finally, New Street Research set a $415.00 price objective on Palo Alto Networks in a research note on Tuesday, August 18th. Thirty-nine equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $398.55.

Insider Buying and Selling at Palo Alto Networks

In related news, Director James Goetz sold 20,000 shares of Palo Alto Networks 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dipak Golechha sold 27,500 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $391.60, for a total value 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. This represents a 18.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,210 shares of company stock valued at $20,823,029 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Down 0.3%

Palo Alto Networks stock opened at $313.84 on Friday. The company has a 50 day moving average of $370.30 and a 200-day moving average of $273.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. Palo Alto Networks, Inc. has a twelve month low of $139.57 and a twelve month high of $432.33. The stock has a market capitalization of $256.96 billion, a PE ratio of 615.38, a price-to-earnings-growth ratio of 9.00 and a beta of 0.96.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, September 1st. The network technology company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.04. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. Palo Alto Networks had a net margin of 2.67% and a return on equity of 8.50%. The firm's quarterly revenue was up 34.5% on a year-over-year basis. During the same period last year, the business posted $0.95 earnings per share. 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 research analysts anticipate that Palo Alto Networks, Inc. will post 2.32 EPS for the current fiscal year.

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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