1,799 Palo Alto Networks, Inc. $PANW Shares Sold by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 47,055 shares of the network technology company’s stock after selling 1,799 shares during the period. Palo Alto Networks comprises approximately 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 filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Solstein Capital LLC acquired a new stake in shares of Palo Alto Networks during the second quarter valued at about $26,000. N.E.W. Advisory Services LLC acquired a new position in shares of Palo Alto Networks in the 2nd quarter worth approximately $27,000. Delos Wealth Advisors LLC purchased a new position in shares of Palo Alto Networks during the 2nd quarter worth approximately $28,000. Principia Wealth Advisory LLC boosted its position in shares of Palo Alto Networks by 125.0% during the 2nd quarter. Principia Wealth Advisory LLC now owns 81 shares of the network technology company’s stock worth $28,000 after purchasing an additional 45 shares during the period. Finally, Putney Financial Group LLC acquired a new stake in Palo Alto Networks in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Aparna Bawa sold 1,000 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $373.61, for a total transaction of $373,610.00. Following the completion of the transaction, the director directly owned 5,437 shares of the company’s stock, valued at approximately $2,031,317.57. The trade was a 15.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh Paul sold 900 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $373.68, for a total value of $336,312.00. Following the transaction, the chief accounting officer directly owned 72,484 shares of the company’s stock, valued at approximately $27,085,821.12. This represents a 1.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 54,210 shares of company stock worth $20,823,029. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PANW shares. BNP Paribas Exane boosted their target price on Palo Alto Networks from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $430.00 price target (up from $350.00) on shares of Palo Alto Networks in a research report on Wednesday, September 2nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $525.00 price objective (up from $475.00) on shares of Palo Alto Networks in a research note on Monday, October 12th. Wedbush started coverage on Palo Alto Networks in a report on Friday, September 11th. They issued an “outperform” rating and a $400.00 price objective on the stock. Finally, Morgan Stanley set a $410.00 target price on Palo Alto Networks and gave the company an “overweight” rating in a report on Monday, September 21st. Thirty-nine research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $398.55.

Palo Alto Networks Stock Down 0.3%

Shares of NASDAQ PANW traded down $0.83 during mid-day trading on Friday, hitting $313.84. The company had a trading volume of 6,284,640 shares, compared to its average volume of 5,572,887. The company has a market capitalization of $256.96 billion, a PE ratio of 615.38, a price-to-earnings-growth ratio of 10.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. Palo Alto Networks, Inc. has a 1-year low of $139.57 and a 1-year high of $432.33. The business’s 50-day simple moving average is $370.30 and its 200 day simple moving average is $273.58.

Palo Alto Networks (NASDAQ:PANW) last released its 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 analysts’ expectations of $3.35 billion. During the same period in the previous year, the firm posted $0.95 EPS. Palo Alto Networks’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. On average, analysts predict that Palo Alto Networks, Inc. will post 2.32 earnings per share for the current year.

Palo Alto Networks Profile

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.