Palo Alto Networks, Inc. $PANW Stock Position Raised by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1,248.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 9,829 shares of the network technology company’s stock after buying an additional 9,100 shares during the period. Provenance Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $3,905,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. B&D White Capital Company LLC acquired a new position in Palo Alto Networks during the 1st quarter valued at approximately $353,000. Bridgewater Advisors Inc. purchased a new position in shares of Palo Alto Networks in the second quarter worth $2,159,000. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Palo Alto Networks by 1.6% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 240,029 shares of the network technology company’s stock worth $95,366,000 after buying an additional 3,700 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Palo Alto Networks by 126.6% during the third quarter. First Citizens Bank & Trust Co. now owns 18,600 shares of the network technology company’s stock worth $7,390,000 after buying an additional 10,392 shares during the period. Finally, Evelyn Partners Investment Management Services Ltd lifted its stake in shares of Palo Alto Networks by 31.5% during the first quarter. Evelyn Partners Investment Management Services Ltd now owns 14,641 shares of the network technology company’s stock worth $2,347,000 after buying an additional 3,505 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $350.20 on Wednesday. The stock has a 50-day simple moving average of $372.01 and a two-hundred day simple moving average of $271.49. The firm has a market capitalization of $286.73 billion, a P/E ratio of 686.68, a PEG ratio of 10.09 and a beta of 0.96. 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 quick ratio of 0.87 and a current ratio of 0.87.

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

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $373.68, for a total value of $336,312.00. Following the sale, the chief accounting officer owned 72,484 shares in the company, valued at approximately $27,085,821.12. This represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Key sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $376.03, for a total value of $940,075.00. Following the completion of the sale, the director owned 10,000 shares in the company, valued at approximately $3,760,300. This represents a 20.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 54,210 shares of company stock valued at $20,823,029 in the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PANW has been the topic of a number of research analyst reports. Argus reissued a “buy” rating and set a $425.00 price objective on shares of Palo Alto Networks in a report on Thursday, September 3rd. TD Cowen restated a “buy” rating and issued a $440.00 target price (up from $400.00) on shares of Palo Alto Networks in a research note on Friday, October 2nd. Mizuho set a $415.00 price target on Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $525.00 price target (up from $475.00) on shares of Palo Alto Networks in a research report on Monday, October 12th. Finally, Robert W. Baird set a $420.00 price target on Palo Alto Networks and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Thirty-nine investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $398.55.

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.