State of Alaska Department of Revenue Sells 2,258 Shares of Palo Alto Networks, Inc. $PANW

State of Alaska Department of Revenue decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,205 shares of the network technology company’s stock after selling 2,258 shares during the period. State of Alaska Department of Revenue’s holdings in Palo Alto Networks were worth $30,674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PANW. BlackRock Inc. bought a new stake in shares of Palo Alto Networks in the 2nd quarter worth $25,833,462,000. State Street Corp lifted its holdings in shares of Palo Alto Networks by 4.2% in the second quarter. State Street Corp now owns 36,979,497 shares of the network technology company’s stock valued at $12,610,748,000 after buying an additional 1,493,179 shares during the period. Bank of America Corp DE boosted its stake 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 buying an additional 205,123 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 buying an additional 706,003 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Palo Alto Networks by 4.4% during the first quarter. First Trust Advisors LP now owns 6,466,118 shares of the network technology company’s stock valued at $1,036,648,000 after buying an additional 273,103 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Dipak Golechha sold 27,500 shares of the firm’s 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 transaction, the executive vice president directly owned 117,750 shares in the company, valued at $46,110,900. This trade represents a 18.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Josh Paul sold 900 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $373.68, for a total transaction of $336,312.00. Following the completion of the transaction, the chief accounting officer directly owned 72,484 shares in the company, valued at approximately $27,085,821.12. This trade represents a 1.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 54,210 shares of company stock valued at $20,823,029. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Trading Down 1.8%

Shares of Palo Alto Networks stock traded down $6.82 on Thursday, reaching $368.22. 2,733,303 shares of the company were exchanged, compared to its average volume of 8,170,186. The stock has a fifty day moving average price of $372.88 and a 200-day moving average price of $299.16. The firm has a market capitalization of $301.20 billion, a price-to-earnings ratio of 722.83, a price-to-earnings-growth ratio of 11.43 and a beta of 0.93. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $432.33.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, September 1st. The network technology company reported $1.02 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the business posted $0.95 earnings per share. Palo Alto Networks’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, analysts expect that Palo Alto Networks, Inc. will post 2.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PANW shares. New Street Research set a $415.00 target price on Palo Alto Networks in a report on Tuesday, August 18th. Wedbush assumed coverage on shares of Palo Alto Networks in a report on Friday, September 11th. They issued an “outperform” rating and a $400.00 price target for the company. Phillip Securities downgraded shares of Palo Alto Networks from a “moderate buy” rating to a “hold” rating and upped their price target for the company from $320.00 to $346.00 in a report on Monday, September 7th. BTIG Research raised their price objective on shares of Palo Alto Networks from $404.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, September 28th. Finally, Citizens Jmp lifted their price objective on shares of Palo Alto Networks from $320.00 to $415.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 12th. Thirty-nine research 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 has a consensus rating of “Moderate Buy” and an average target price of $392.38.

Palo Alto Networks Profile

Palo Alto Networks, Inc is a cybersecurity company that provides solutions designed to help organizations protect networks, endpoints, cloud environments, applications and users from cyber threats. Its offerings include next-generation firewalls, cloud-delivered security services, secure access service edge (SASE) solutions, endpoint protection and security operations tools.

The company also provides platforms and services for cloud security, threat intelligence, incident response, vulnerability management and the automation of security operations.