Rockland Trust Co. Takes $325,000 Position in Palo Alto Networks, Inc. $PANW

Key Points

• Rockland Trust Co. invested approximately $325,000 in Palo Alto Networks by acquiring 1,590 shares of the company's stock during the second quarter.
• Palo Alto Networks recently reported earnings of $0.95 EPS, exceeding analysts' expectations, and experienced a 15.8% revenue growth year-over-year.
• Institutional investors and hedge funds own 79.82% of Palo Alto Networks, indicating significant institutional confidence in the company's performance.

Rockland Trust Co. acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,590 shares of the network technology company's stock, valued at approximately $325,000.

Several other large investors have also recently bought and sold shares of the stock. Contravisory Investment Management Inc. grew its position in Palo Alto Networks by 5.4% in the 2nd quarter. Contravisory Investment Management Inc. now owns 2,694 shares of the network technology company's stock worth $551,000 after purchasing an additional 137 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Palo Alto Networks by 14.9% during the second quarter. Exchange Traded Concepts LLC now owns 24,854 shares of the network technology company's stock worth $5,086,000 after buying an additional 3,230 shares in the last quarter. Bigelow Investment Advisors LLC grew its position in Palo Alto Networks by 8.1% during the second quarter. Bigelow Investment Advisors LLC now owns 1,597 shares of the network technology company's stock worth $327,000 after buying an additional 119 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new position in Palo Alto Networks during the second quarter valued at about $2,103,000. Finally, Atticus Wealth Management LLC raised its holdings in Palo Alto Networks by 7.6% in the 2nd quarter. Atticus Wealth Management LLC now owns 3,154 shares of the network technology company's stock valued at $645,000 after acquiring an additional 223 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $191.11, for a total value of $23,081,119.14. Following the completion of the sale, the executive vice president owned 177,954 shares in the company, valued at approximately $34,008,788.94. This represents a 40.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $172.80, for a total value of $17,280,000.00. Following the completion of the transaction, the executive vice president directly owned 3,143,516 shares in the company, valued at $543,199,564.80. The trade was a 3.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 563,622 shares of company stock worth $105,459,528. Insiders own 2.50% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PANW. Guggenheim lifted their price objective on Palo Alto Networks from $130.00 to $135.00 and gave the stock a "sell" rating in a report on Tuesday, August 19th. Scotiabank upped their price objective on shares of Palo Alto Networks from $225.00 to $228.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, August 19th. Rosenblatt Securities cut their target price on shares of Palo Alto Networks from $235.00 to $215.00 and set a "buy" rating for the company in a research note on Thursday, August 14th. DA Davidson reiterated a "buy" rating and issued a $215.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, August 19th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $230.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, September 3rd. Twenty-nine equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $212.39.

Palo Alto Networks Stock Down 0.2%

PANW stock traded down $0.38 during midday trading on Monday, reaching $207.81. The stock had a trading volume of 3,399,514 shares, compared to its average volume of 6,394,168. The firm has a market cap of $139.01 billion, a price-to-earnings ratio of 129.59, a PEG ratio of 4.96 and a beta of 0.98. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $210.39. The business has a fifty day simple moving average of $188.60 and a two-hundred day simple moving average of $186.59.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Monday, August 18th. The network technology company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.50 billion. Palo Alto Networks had a net margin of 12.30% and a return on equity of 17.66%. The company's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. Palo Alto Networks has set its FY 2026 guidance at 3.750-3.850 EPS. Q1 2026 guidance at 0.880-0.900 EPS. On average, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.