Palo Alto Networks, Inc. $PANW Stock Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 121,642 shares of the network technology company’s stock after selling 10,874 shares during the period. New York Life Investment Management LLC’s holdings in Palo Alto Networks were worth $48,330,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Verus Financial Partners Inc. boosted its position in Palo Alto Networks by 4.3% during the third quarter. Verus Financial Partners Inc. now owns 632 shares of the network technology company’s stock valued at $251,000 after purchasing an additional 26 shares during the last quarter. Consilium Wealth Advisory LLC grew its stake in Palo Alto Networks by 2.5% in the third quarter. Consilium Wealth Advisory LLC now owns 1,117 shares of the network technology company’s stock valued at $444,000 after purchasing an additional 27 shares in the last quarter. MBA Advisors LLC grew its stake in Palo Alto Networks by 1.7% in the third quarter. MBA Advisors LLC now owns 1,840 shares of the network technology company’s stock valued at $731,000 after purchasing an additional 30 shares in the last quarter. Grove Bank & Trust increased its position in shares of Palo Alto Networks by 7.0% during the 3rd quarter. Grove Bank & Trust now owns 472 shares of the network technology company’s stock worth $188,000 after purchasing an additional 31 shares during the last quarter. Finally, Riversedge Advisors LLC increased its position in shares of Palo Alto Networks by 2.5% during the 3rd quarter. Riversedge Advisors LLC now owns 1,285 shares of the network technology company’s stock worth $511,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 1.4%

PANW stock opened at $326.36 on Wednesday. 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 debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $267.21 billion, a price-to-earnings ratio of 639.93, a PEG ratio of 9.49 and a beta of 0.96. The business’s fifty day moving average price is $368.37 and its two-hundred day moving average price is $275.05.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, September 1st. The network technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the previous year, the business 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. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 2.32 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 27,500 shares of Palo Alto Networks stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $391.60, for a total value of $10,769,000.00. Following the completion of the sale, the executive vice president owned 117,750 shares in the company, valued at $46,110,900. The trade was a 18.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John P. Key sold 2,500 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 10,000 shares of the company’s stock, valued at $3,760,300. This represents a 20.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,210 shares of company stock valued at $20,823,029 in the last quarter. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

PANW has been the topic of a number of analyst reports. New Street Research set a $415.00 price objective on Palo Alto Networks in a research note on Tuesday, August 18th. Citigroup reissued a “buy” rating and issued a $440.00 target price (up from $410.00) on shares of Palo Alto Networks in a research note on Thursday, October 15th. Rosenblatt Securities raised their target price on shares of Palo Alto Networks from $355.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $430.00 target price (up from $350.00) on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $450.00 price target (up from $335.00) on shares of Palo Alto Networks in a research report on Friday, August 28th. Thirty-nine analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $398.55.

About Palo Alto Networks

Palo Alto Networks, Inc. is a cybersecurity company that provides products and services to help organizations protect their networks, cloud environments, devices and applications. Its offerings include next-generation firewalls, cloud security tools, secure access services and platforms for detecting and responding to cyber threats. The company’s product portfolio includes Prisma for cloud and network security and Cortex for security operations, including threat detection and response. It also provides cybersecurity consulting and incident-response services through Unit 42.