Canandaigua National Bank & Trust Co. Buys New Position in Palo Alto Networks, Inc. $PANW

Canandaigua National Bank & Trust Co. acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the second quarter, HoldingsChannel.com reports. The firm acquired 4,514 shares of the network technology company’s stock, valued at approximately $1,539,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PANW. Norges Bank purchased a new stake in Palo Alto Networks during the 4th quarter valued at approximately $1,415,364,000. Bank of America Corp DE grew its position in Palo Alto Networks by 16.0% in the 1st quarter. Bank of America Corp DE now owns 22,476,753 shares of the network technology company’s stock valued at $3,603,473,000 after buying an additional 3,101,267 shares during the last quarter. Vanguard Group Inc. increased its stake in Palo Alto Networks by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 67,929,063 shares of the network technology company’s stock valued at $12,512,533,000 after buying an additional 2,659,100 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in Palo Alto Networks by 1,665.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,761,909 shares of the network technology company’s stock worth $442,788,000 after buying an additional 2,605,433 shares during the last quarter. Finally, Amundi lifted its stake in shares of Palo Alto Networks by 67.1% in the 1st quarter. Amundi now owns 6,297,833 shares of the network technology company’s stock worth $1,009,669,000 after acquiring an additional 2,528,299 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director James J. Goetz sold 20,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $279.90, for a total transaction of $5,598,000.00. Following the sale, the director owned 20,000 shares of the company’s stock, valued at $5,598,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aparna Bawa sold 290 shares of Palo Alto Networks stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $348.74, for a total value of $101,134.60. Following the sale, the director owned 6,437 shares of the company’s stock, valued at approximately $2,244,839.38. This represents a 4.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 101,239 shares of company stock valued at $27,174,360. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Berenberg Bank increased their price target on shares of Palo Alto Networks from $290.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. BMO Capital Markets increased their target price on Palo Alto Networks from $270.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Oppenheimer restated an “outperform” rating and issued a $400.00 price target (up from $350.00) on shares of Palo Alto Networks in a research note on Tuesday. Stephens increased their price objective on Palo Alto Networks from $180.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. Finally, Wolfe Research restated an “outperform” rating and set a $320.00 target price on shares of Palo Alto Networks in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $333.76.

Palo Alto Networks Stock Down 1.0%

Shares of NASDAQ PANW opened at $362.66 on Thursday. The firm’s 50-day moving average is $314.20 and its two-hundred day moving average is $226.04. The company has a market capitalization of $295.57 billion, a PE ratio of 297.26, a price-to-earnings-growth ratio of 12.31 and a beta of 0.91. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $376.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.06. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.94 billion. Palo Alto Networks had a return on equity of 10.53% and a net margin of 7.95%.The company’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. Palo Alto Networks has set its FY 2026 guidance at 3.770-3.790 EPS and its Q4 2026 guidance at 0.960-0.980 EPS. Equities analysts anticipate that Palo Alto Networks, Inc. will post 2.03 EPS for the current fiscal year.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.