Van Hulzen Asset Management LLC Increases Stock Position in Palo Alto Networks, Inc. $PANW

Van Hulzen Asset Management LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 437.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,856 shares of the network technology company's stock after buying an additional 18,607 shares during the period. Van Hulzen Asset Management LLC's holdings in Palo Alto Networks were worth $7,794,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PANW. California State Teachers Retirement System increased its holdings in Palo Alto Networks by 35,252.4% in the 2nd quarter. California State Teachers Retirement System now owns 417,760,413 shares of the network technology company's stock worth $142,464,656,000 after acquiring an additional 416,578,710 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Palo Alto Networks in the second quarter valued at about $25,833,462,000. State Street Corp increased its stake in shares of Palo Alto Networks by 2.0% during the fourth quarter. State Street Corp now owns 30,331,705 shares of the network technology company's stock worth $5,587,100,000 after purchasing an additional 594,789 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Palo Alto Networks by 0.9% during the second 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. Finally, Geode Capital Management LLC raised its position in shares of Palo Alto Networks by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 15,989,257 shares of the network technology company's stock worth $2,934,935,000 after purchasing an additional 540,756 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh Paul sold 900 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $373.68, for a total transaction of $336,312.00. Following the completion of the transaction, the chief accounting officer owned 72,484 shares of the company's stock, valued at $27,085,821.12. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Aparna Bawa sold 290 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $348.74, for a total transaction of $101,134.60. Following the completion of the transaction, the director owned 6,437 shares in the company, valued at approximately $2,244,839.38. This represents a 4.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,703 shares of company stock worth $10,900,823 in the last 90 days. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on PANW. Susquehanna increased their target price on Palo Alto Networks from $350.00 to $415.00 and gave the company a "positive" rating in a report on Wednesday, September 2nd. Tigress Financial lifted their target price on shares of Palo Alto Networks from $245.00 to $430.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Rosenblatt Securities increased their target price on shares of Palo Alto Networks from $355.00 to $415.00 and gave the company a "buy" rating in a research report on Wednesday, September 2nd. Evercore restated an "outperform" rating on shares of Palo Alto Networks in a research report on Monday, August 31st. Finally, Wedbush increased their price objective on shares of Palo Alto Networks from $300.00 to $340.00 and gave the company an "outperform" rating in a report on Wednesday, June 3rd. Thirty-nine equities research 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $386.32.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $335.10 on Thursday. The firm has a 50 day simple moving average of $349.79 and a 200-day simple moving average of $259.23. The stock has a market cap of $273.11 billion, a price-to-earnings ratio of 657.07, a price-to-earnings-growth ratio of 9.73 and a beta of 0.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.86. Palo Alto Networks, Inc. has a 1-year low of $139.57 and a 1-year high of $398.88.

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 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.04. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.35 billion. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%.The firm's revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the prior 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, analysts expect that Palo Alto Networks, Inc. will post 2.3 EPS for the current year.

Palo Alto Networks Profile

Palo Alto Networks, Inc is a cybersecurity company that provides security products and services to businesses, governments and other organizations worldwide. The company helps customers protect networks, cloud environments, endpoints, applications and connected devices from cyber threats.

Its portfolio includes next-generation firewalls and network security technologies, as well as cloud-delivered security solutions such as Prisma Access and Prisma Cloud. Palo Alto Networks also offers Cortex products for endpoint protection, security operations, threat detection and response, and automation.

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