NewEdge Advisors LLC Cuts Holdings in Palo Alto Networks, Inc. $PANW

NewEdge Advisors LLC decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 467,364 shares of the network technology company’s stock after selling 29,630 shares during the quarter. NewEdge Advisors LLC’s holdings in Palo Alto Networks were worth $159,381,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PANW. Trilogy Capital Inc. raised its position in shares of Palo Alto Networks by 1.8% in the 2nd quarter. Trilogy Capital Inc. now owns 2,127 shares of the network technology company’s stock worth $725,000 after acquiring an additional 37 shares in the last quarter. Wisconsin Wealth Advisors LLC lifted its stake in shares of Palo Alto Networks by 1.2% during the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 3,206 shares of the network technology company’s stock worth $1,093,000 after purchasing an additional 38 shares during the last quarter. Orrstown Financial Services Inc. boosted its position in Palo Alto Networks by 1.2% during the second quarter. Orrstown Financial Services Inc. now owns 3,197 shares of the network technology company’s stock valued at $1,090,000 after purchasing an additional 38 shares in the last quarter. Principia Wealth Advisory LLC boosted its position in Palo Alto Networks by 125.0% during the second quarter. Principia Wealth Advisory LLC now owns 81 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 45 shares in the last quarter. Finally, WNY Asset Management LLC grew its stake in Palo Alto Networks by 2.8% in the second quarter. WNY Asset Management LLC now owns 1,751 shares of the network technology company’s stock valued at $597,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $336.98 on Wednesday. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $398.88. The firm has a market capitalization of $274.64 billion, a price-to-earnings ratio of 660.76, a PEG ratio of 9.62 and a beta of 0.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50-day simple moving average is $350.13 and its 200-day simple moving average is $257.94.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, September 1st. The network technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.04. The firm had revenue of $3.41 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the company 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. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on PANW shares. Guggenheim reissued a “neutral” rating on shares of Palo Alto Networks in a research report on Wednesday, September 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $410.00 price objective (up from $345.00) on shares of Palo Alto Networks in a research report on Wednesday, September 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $425.00 price objective on shares of Palo Alto Networks in a research note on Tuesday. Wells Fargo & Company reissued an “overweight” rating and set a $475.00 target price (up from $420.00) on shares of Palo Alto Networks in a research report on Monday, August 17th. Finally, Argus reissued a “buy” rating and set a $425.00 target price on shares of Palo Alto Networks in a research report on Thursday, September 3rd. Thirty-nine research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $385.67.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director John P. Key sold 7,500 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $279.24, for a total value of $2,094,300.00. Following the completion of the transaction, the director owned 12,500 shares of the company’s stock, valued at approximately $3,490,500. This trade represents a 37.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Helle Thorning-Schmidt sold 700 shares of Palo Alto Networks stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $346.85, for a total transaction of $242,795.00. Following the sale, the director owned 5,898 shares of the company’s stock, valued at $2,045,721.30. The trade was a 10.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,258 shares of company stock worth $11,050,673 in the last three months. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Company 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.