Palo Alto Networks, Inc. $PANW Stake Trimmed by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC cut its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,055 shares of the network technology company’s stock after selling 1,799 shares during the quarter. Palo Alto Networks accounts for 2.2% of Canvas Wealth Advisors LLC’s investment portfolio, making the stock its 12th largest position. Canvas Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $17,908,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PANW. Verus Financial Partners Inc. raised 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 worth $251,000 after acquiring an additional 26 shares during the period. Consilium Wealth Advisory LLC grew its position in shares of 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 during the period. MBA Advisors LLC grew its position in shares of 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 during the period. Grove Bank & Trust increased its stake 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 purchasing an additional 31 shares in the last quarter. Finally, Riversedge Advisors LLC raised 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. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.3%

NASDAQ PANW traded down $0.83 on Friday, reaching $313.84. 6,284,640 shares of the company were exchanged, compared to its average volume of 5,572,887. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average price is $370.30 and its 200 day moving average price is $273.58. The stock has a market capitalization of $256.96 billion, a P/E ratio of 615.38, a price-to-earnings-growth 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.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, September 1st. The network technology company reported $1.02 earnings per share (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 business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the company earned $0.95 EPS. The company’s revenue for the quarter was up 34.5% on a year-over-year basis. 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. Analysts forecast that Palo Alto Networks, Inc. will post 2.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PANW shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $425.00 price target on shares of Palo Alto Networks in a research report on Tuesday, September 8th. DA Davidson raised their price objective on Palo Alto Networks from $345.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $390.00 target price (up from $371.00) on shares of Palo Alto Networks in a research note on Wednesday, September 2nd. Mizuho set a $415.00 target price on shares of Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Finally, Citizens Jmp increased their target price on shares of Palo Alto Networks from $320.00 to $415.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 12th. Thirty-nine equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $398.55.

Insider Activity

In other Palo Alto Networks news, Director Aparna Bawa sold 250 shares of Palo Alto Networks stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $412.28, for a total transaction of $103,070.00. Following the transaction, the director directly owned 4,427 shares of the company’s stock, valued at $1,825,163.56. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dipak Golechha sold 27,500 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. 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. Insiders own 1.40% of the company’s stock.

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.

Founded in 2005 and headquartered in Santa Clara, California, Palo Alto Networks serves businesses, government agencies and other organizations around the world.