Provenance Wealth Advisors LLC Purchases 9,100 Shares of Palo Alto Networks, Inc. $PANW

Provenance Wealth Advisors LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1,248.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,829 shares of the network technology company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. B&D White Capital Company LLC purchased a new position in Palo Alto Networks in the 1st quarter worth about $353,000. Bridgewater Advisors Inc. bought a new stake in Palo Alto Networks during the 2nd quarter valued at about $2,159,000. Mn Services Vermogensbeheer B.V. boosted its position in Palo Alto Networks by 1.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 240,029 shares of the network technology company’s stock valued at $95,366,000 after buying an additional 3,700 shares during the period. First Citizens Bank & Trust Co. boosted its position in Palo Alto Networks by 126.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 18,600 shares of the network technology company’s stock valued at $7,390,000 after buying an additional 10,392 shares during the period. Finally, Hamilton Wealth LLC grew its stake in Palo Alto Networks by 57.7% in the 1st quarter. Hamilton Wealth LLC now owns 37,869 shares of the network technology company’s stock worth $6,071,000 after acquiring an additional 13,863 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.4%

Shares of NASDAQ:PANW opened at $350.20 on Wednesday. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $432.33. The business’s fifty day simple moving average is $372.01 and its 200-day simple moving average is $271.49. The company has a market capitalization of $286.73 billion, a PE ratio of 686.68, a P/E/G ratio of 10.09 and a beta of 0.96. 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 (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, September 1st. The network technology company reported $1.02 EPS for the quarter, topping 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 firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company posted $0.95 EPS. The business’s revenue for the quarter 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. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 27,500 shares of the 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 sale, the executive vice president directly owned 117,750 shares of the company’s stock, valued at approximately $46,110,900. This represents a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John P. Key sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $376.03, for a total transaction of $940,075.00. Following the completion of the sale, the director owned 10,000 shares in the company, valued at $3,760,300. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 54,210 shares of company stock valued at $20,823,029. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PANW shares. BTIG Research raised their target price on shares of Palo Alto Networks from $404.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Guggenheim reaffirmed a “neutral” rating on shares of Palo Alto Networks in a research note on Wednesday, September 2nd. Barclays reiterated an “overweight” rating and issued a $375.00 price target (up from $370.00) on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Piper Sandler reissued an “overweight” rating and issued a $410.00 price objective (up from $345.00) on shares of Palo Alto Networks in a research note on Wednesday, September 2nd. Finally, Stephens set a $400.00 price objective on Palo Alto Networks and gave the stock an “equal weight” rating in a research note on Wednesday, September 2nd. Thirty-nine research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target 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.