Summit Global Investments Buys 4,205 Shares of Palo Alto Networks, Inc. $PANW

Summit Global Investments bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,205 shares of the network technology company’s stock, valued at approximately $1,671,000.

A number of other institutional investors have also recently made changes to their positions in PANW. BlackRock Inc. purchased a new stake in Palo Alto Networks in the 2nd quarter worth about $25,833,462,000. State Street Corp raised its stake in Palo Alto Networks by 4.2% in the 2nd quarter. State Street Corp now owns 36,979,497 shares of the network technology company’s stock valued at $12,610,748,000 after acquiring an additional 1,493,179 shares during the period. Bank of America Corp DE lifted its holdings in 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 valued at $7,734,973,000 after purchasing an additional 205,123 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Palo Alto Networks by 8.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,778,963 shares of the network technology company’s stock valued at $2,993,802,000 after purchasing an additional 706,003 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in Palo Alto Networks during the second quarter valued at about $1,968,304,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the subject of a number of research reports. DA Davidson increased their target price on shares of Palo Alto Networks from $345.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. New Street Research set a $415.00 price target on shares of Palo Alto Networks in a research report on Tuesday, August 18th. Wells Fargo & Company reissued an “overweight” rating and issued a $525.00 price target (up from $475.00) on shares of Palo Alto Networks in a research report on Monday, October 12th. Robert W. Baird set a $420.00 price target on shares of Palo Alto Networks and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $390.00 price objective (up from $371.00) on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Thirty-nine equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $398.55.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $365.87 on Monday. The company’s 50 day simple moving average is $372.15 and its two-hundred day simple moving average is $269.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $432.33. The stock has a market capitalization of $299.56 billion, a PE ratio of 717.41, a P/E/G ratio of 10.49 and a beta of 0.96.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, September 1st. The network technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.04. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.35 billion. Palo Alto Networks had a net margin of 2.67% and a return on equity of 8.50%. The business’s revenue for the quarter was up 34.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 EPS. 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. Analysts predict that Palo Alto Networks, Inc. will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 250 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $412.28, for a total value of $103,070.00. Following the sale, the director owned 4,427 shares of the company’s stock, valued at $1,825,163.56. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James J. Goetz sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $376.68, for a total value of $7,533,600.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,210 shares of company stock valued at $20,823,029 in the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

Palo Alto Networks 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.