Mirae Asset Global Investments Co. Ltd. Purchases New Stake in Palo Alto Networks, Inc. $PANW

Mirae Asset Global Investments Co. Ltd. bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the third quarter, HoldingsChannel reports. The fund bought 625,268 shares of the network technology company’s stock, valued at approximately $248,425,000.

Several other hedge funds have also modified their holdings of the stock. Consilium Wealth Advisory LLC grew its stake in shares of Palo Alto Networks by 2.5% during the third quarter. Consilium Wealth Advisory LLC now owns 1,117 shares of the network technology company’s stock valued at $444,000 after acquiring an additional 27 shares in the last quarter. Grove Bank & Trust increased its position in shares of Palo Alto Networks by 7.0% during the third quarter. Grove Bank & Trust now owns 472 shares of the network technology company’s stock worth $188,000 after acquiring an additional 31 shares during the last quarter. Riversedge Advisors LLC lifted its stake in shares of Palo Alto Networks by 2.5% in the third quarter. Riversedge Advisors LLC now owns 1,285 shares of the network technology company’s stock worth $511,000 after acquiring an additional 31 shares in the last quarter. Tenon Financial LLC lifted its stake in shares of Palo Alto Networks by 5.3% in the third quarter. Tenon Financial LLC now owns 661 shares of the network technology company’s stock worth $263,000 after acquiring an additional 33 shares in the last quarter. Finally, WPG Advisers LLC boosted its holdings in Palo Alto Networks by 5.8% in the third quarter. WPG Advisers LLC now owns 657 shares of the network technology company’s stock valued at $261,000 after purchasing an additional 36 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

PANW stock opened at $365.87 on Friday. The company has a 50-day simple moving average of $372.15 and a 200 day simple moving average of $269.89. The company has a market capitalization of $299.56 billion, a P/E ratio of 717.41, a PEG ratio of 10.49 and a beta of 0.93. The company has a quick ratio of 0.87, a current 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 released its quarterly 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. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate 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 revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the firm earned $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. Sell-side analysts predict that Palo Alto Networks, Inc. will post 2.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $410.00 price objective (up from $345.00) on shares of Palo Alto Networks in a research note on Wednesday, September 2nd. Scotiabank downgraded shares of Palo Alto Networks from a “sector outperform” rating to a “hold” rating in a research report on Wednesday, September 2nd. Yorkville Ives initiated coverage on shares of Palo Alto Networks in a research report on Monday, October 5th. They set an “outperform” rating and a $500.00 price target on the stock. Evercore reiterated an “outperform” rating on shares of Palo Alto Networks in a research note on Monday, August 31st. Finally, Sanford C. Bernstein downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $253.00 to $351.00 in a research note on Thursday, September 17th. Thirty-nine equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $398.55.

Insider Activity at Palo Alto Networks

In related news, EVP Dipak Golechha sold 27,500 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $391.60, for a total transaction of $10,769,000.00. Following the transaction, the executive vice president directly owned 117,750 shares of the company’s stock, valued at approximately $46,110,900. The trade was a 18.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James J. Goetz sold 20,000 shares of Palo Alto Networks stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $376.68, for a total value of $7,533,600.00. 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 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Company 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.