SteelPeak Wealth LLC Purchases 77,618 Shares of Palo Alto Networks, Inc. $PANW

SteelPeak Wealth LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 365.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,873 shares of the network technology company’s stock after acquiring an additional 77,618 shares during the quarter. Palo Alto Networks accounts for approximately 1.0% of SteelPeak Wealth LLC’s investment portfolio, making the stock its 20th largest holding. SteelPeak Wealth LLC’s holdings in Palo Alto Networks were worth $39,283,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Solstein Capital LLC purchased a new position in Palo Alto Networks during the 2nd quarter valued at about $26,000. N.E.W. Advisory Services LLC bought a new stake in shares of Palo Alto Networks in the 2nd quarter valued at about $27,000. Delos Wealth Advisors LLC purchased a new stake in shares of Palo Alto Networks in the 2nd quarter worth approximately $28,000. Principia Wealth Advisory LLC lifted its position in shares of Palo Alto Networks by 125.0% in the 2nd quarter. Principia Wealth Advisory LLC now owns 81 shares of the network technology company’s stock worth $28,000 after purchasing an additional 45 shares during the period. Finally, Private Wealth Management Group LLC lifted its position in shares of Palo Alto Networks by 148.1% in the 1st quarter. Private Wealth Management Group LLC now owns 201 shares of the network technology company’s stock worth $32,000 after purchasing an additional 120 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of Palo Alto Networks from $434.00 to $475.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Robert W. Baird set a $420.00 price objective on shares of Palo Alto Networks and gave the stock an “outperform” 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. Arete Research upped their target price on Palo Alto Networks from $185.00 to $433.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Citigroup reaffirmed a “buy” rating and set a $440.00 target price (up from $410.00) on shares of Palo Alto Networks in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $393.02.

Palo Alto Networks Trading Down 7.6%

NASDAQ:PANW opened at $342.00 on Friday. Palo Alto Networks, Inc. has a 52 week low of $139.57 and a 52 week high of $432.33. The firm has a 50 day moving average of $372.66 and a 200 day moving average of $301.02. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $279.76 billion, a price-to-earnings ratio of 670.60, a PEG ratio of 9.84 and a beta of 0.93.

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 the consensus estimate of $0.98 by $0.04. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%. The firm’s quarterly revenue was up 34.5% compared to the same quarter last year. During the same period in the prior year, the company posted $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. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.31 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Dipak Golechha sold 27,500 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 117,750 shares of the company’s stock, valued at $46,110,900. This trade represents a 18.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Goetz sold 20,000 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $376.68, for a total transaction of $7,533,600.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 54,210 shares of company stock valued at $20,823,029. 1.40% of the stock is owned by company 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.