Sitrin Capital Management LLC Sells 2,529 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• Sitrin Capital Management LLC reduced its stake in Palo Alto Networks by 8.2% during Q2, currently holding 28,161 shares valued at approximately $5.76 million.
• Institutional investors collectively own 79.82% of Palo Alto Networks, with several others adjusting their stakes in the company.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Palo Alto Networks, with a price target averaging around $214.95.

Sitrin Capital Management LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,161 shares of the network technology company's stock after selling 2,529 shares during the quarter. Palo Alto Networks comprises 2.9% of Sitrin Capital Management LLC's holdings, making the stock its 18th largest holding. Sitrin Capital Management LLC's holdings in Palo Alto Networks were worth $5,763,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Palo Alto Networks during the first quarter valued at approximately $261,000. Strive Asset Management LLC increased its holdings in shares of Palo Alto Networks by 16.6% during the first quarter. Strive Asset Management LLC now owns 2,099 shares of the network technology company's stock valued at $358,000 after acquiring an additional 299 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Palo Alto Networks by 10.8% during the first quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock valued at $2,410,000 after acquiring an additional 1,374 shares in the last quarter. Czech National Bank increased its holdings in shares of Palo Alto Networks by 6.4% during the second quarter. Czech National Bank now owns 161,840 shares of the network technology company's stock valued at $33,119,000 after acquiring an additional 9,766 shares in the last quarter. Finally, Avity Investment Management Inc. increased its holdings in shares of Palo Alto Networks by 37.9% during the second quarter. Avity Investment Management Inc. now owns 181,691 shares of the network technology company's stock valued at $37,181,000 after acquiring an additional 49,971 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PANW shares. DA Davidson reiterated a "buy" rating and set a $215.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 19th. Stephens reiterated an "equal weight" rating and set a $205.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 19th. Morgan Stanley upped their price target on Palo Alto Networks from $210.00 to $216.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Jefferies Financial Group set a $235.00 price target on Palo Alto Networks in a report on Tuesday, July 29th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Palo Alto Networks in a research report on Wednesday. Twenty-eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.95.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $217.79 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $144.15 and a 52-week high of $217.94. The firm has a market cap of $145.68 billion, a price-to-earnings ratio of 135.69, a PEG ratio of 5.02 and a beta of 0.98. The business's fifty day moving average is $191.40 and its 200 day moving average is $188.81.

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

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $172.80, for a total value of $17,280,000.00. Following the transaction, the executive vice president directly owned 3,143,516 shares in the company, valued at $543,199,564.80. This represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $211.92, for a total value of $25,594,426.08. Following the completion of the transaction, the executive vice president owned 149,190 shares in the company, valued at $31,616,344.80. This represents a 44.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,315,130 shares of company stock worth $260,687,367. 2.50% of the stock is owned by corporate insiders.

About Palo Alto Networks

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.

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