State of Alaska Department of Revenue Sells 2,258 Shares of Palo Alto Networks, Inc. $PANW

State of Alaska Department of Revenue trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,205 shares of the network technology company’s stock after selling 2,258 shares during the period. State of Alaska Department of Revenue’s holdings in Palo Alto Networks were worth $30,674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PANW. Turtle Creek Wealth Advisors LLC grew its stake in Palo Alto Networks by 8.7% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 7,851 shares of the network technology company’s stock valued at $3,119,000 after purchasing an additional 630 shares in the last quarter. WealthPlan Investment Management LLC raised its holdings in shares of Palo Alto Networks by 5.2% during the third quarter. WealthPlan Investment Management LLC now owns 9,803 shares of the network technology company’s stock worth $3,895,000 after purchasing an additional 488 shares during the period. Purus Wealth Management LLC boosted its holdings in shares of Palo Alto Networks by 12.8% in the 3rd quarter. Purus Wealth Management LLC now owns 835 shares of the network technology company’s stock valued at $332,000 after buying an additional 95 shares during the period. SBE LLC DBA Cedar Cove Wealth Partners grew its position in shares of Palo Alto Networks by 8.0% during the 3rd quarter. SBE LLC DBA Cedar Cove Wealth Partners now owns 2,209 shares of the network technology company’s stock valued at $878,000 after buying an additional 163 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Palo Alto Networks during the 3rd quarter valued at about $385,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of research reports. BMO Capital Markets reiterated an “outperform” rating and set a $415.00 price target (up from $335.00) on shares of Palo Alto Networks in a research report on Thursday, August 20th. Evercore restated an “outperform” rating on shares of Palo Alto Networks in a research report on Monday, August 31st. Wedbush began coverage on Palo Alto Networks in a research report on Friday, September 11th. They set an “outperform” rating and a $400.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and set a $450.00 price objective (up from $335.00) on shares of Palo Alto Networks in a research note on Friday, August 28th. Finally, Rosenblatt Securities increased their target price on Palo Alto Networks from $355.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Thirty-nine investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $392.38.

Insider Activity at Palo Alto Networks

In related news, Director James J. Goetz sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $376.68, for a total value of $7,533,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. 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 represents a 1.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 54,210 shares of company stock valued at $20,823,029. 1.40% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

PANW traded down $6.82 during trading hours on Thursday, hitting $368.22. The company’s stock had a trading volume of 2,733,303 shares, compared to its average volume of 8,170,186. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $432.33. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $301.20 billion, a PE ratio of 722.83, a PEG ratio of 11.43 and a beta of 0.93. The company has a 50-day simple moving average of $372.88 and a 200 day simple moving average of $299.16.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, September 1st. The network technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.04. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The firm’s revenue for the quarter was up 34.5% on a year-over-year basis. 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, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.31 EPS for the current year.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc is a cybersecurity company that provides solutions designed to help organizations protect networks, endpoints, cloud environments, applications and users from cyber threats. Its offerings include next-generation firewalls, cloud-delivered security services, secure access service edge (SASE) solutions, endpoint protection and security operations tools.

The company also provides platforms and services for cloud security, threat intelligence, incident response, vulnerability management and the automation of security operations.