Palo Alto Networks, Inc. $PANW Shares Acquired by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.7% during the third quarter, Holdings Channel reports. The fund owned 80,000 shares of the network technology company’s stock after buying an additional 5,000 shares during the period. Palo Alto Networks makes up approximately 1.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 20th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Palo Alto Networks were worth $31,785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of Palo Alto Networks during the 3rd quarter valued at approximately $397,000. CPR Investments Inc. increased its stake in shares of Palo Alto Networks by 14.9% during the 3rd quarter. CPR Investments Inc. now owns 904 shares of the network technology company’s stock worth $359,000 after purchasing an additional 117 shares during the last quarter. Leo Wealth LLC bought a new stake in shares of Palo Alto Networks in the 3rd quarter worth approximately $874,000. Purewater Capital LLC bought a new stake in shares of Palo Alto Networks in the 3rd quarter worth approximately $214,000. Finally, Kingswood Wealth Advisors LLC lifted its stake in Palo Alto Networks by 9.3% in the third quarter. Kingswood Wealth Advisors LLC now owns 10,086 shares of the network technology company’s stock valued at $4,007,000 after purchasing an additional 862 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Up 2.6%

Shares of Palo Alto Networks stock opened at $390.46 on Tuesday. The company’s 50-day moving average price is $370.35 and its 200-day moving average price is $264.97. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $432.33. The company has a market cap of $319.40 billion, a price-to-earnings ratio of 184.73, a PEG ratio of 10.95 and a beta of 0.93.

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

Insider Transactions at Palo Alto Networks

In other news, Director John P. Key sold 2,500 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $376.03, for a total transaction of $940,075.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at $3,760,300. The trade was a 20.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Goetz sold 20,000 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $376.68, for a total transaction of $7,533,600.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 54,210 shares of company stock worth $20,823,029. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings raised Palo Alto Networks from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. BTIG Research boosted their target price on Palo Alto Networks from $404.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Tigress Financial upped their price target on Palo Alto Networks from $245.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Truist Financial set a $400.00 price target on Palo Alto Networks in a research note on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Palo Alto Networks from $326.00 to $384.00 and gave the stock an “overweight” rating in a report on Tuesday, August 25th. Thirty-nine investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.55.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc (NASDAQ:PANW) is a global cybersecurity company that helps organizations protect networks, cloud environments, endpoints, and digital infrastructure. Its offerings are designed to prevent cyberattacks, identify security risks, monitor activity, and support incident response across enterprise, government, and service-provider environments.

The company’s portfolio includes network security products such as next-generation firewalls and security operations tools; Prisma, its cloud security platform; and Cortex, a suite focused on endpoint protection, threat detection, security analytics, and automated response.