Oak Grove Capital LLC Acquires New Holdings in Palo Alto Networks, Inc. $PANW

Oak Grove Capital LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, Holdings Channel.com reports. The firm bought 6,950 shares of the network technology company’s stock, valued at approximately $2,761,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Palo Alto Networks during the 2nd quarter worth $25,833,462,000. Legal & General Group Plc acquired a new stake in shares of Palo Alto Networks during the second quarter valued at about $1,968,304,000. Bank of New York Mellon Corp acquired a new stake in shares of Palo Alto Networks during the second quarter valued at about $1,569,755,000. Deutsche Bank AG bought a new stake in Palo Alto Networks during the 2nd quarter worth approximately $1,481,236,000. Finally, Bank of America Corp DE grew its stake in shares of Palo Alto Networks by 16.0% in the first quarter. Bank of America Corp DE now owns 22,476,753 shares of the network technology company’s stock worth $3,603,473,000 after purchasing an additional 3,101,267 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Up 5.1%

Shares of NASDAQ:PANW opened at $418.78 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $432.33. The business’s 50 day simple moving average is $370.88 and its two-hundred day simple moving average is $293.25. The firm has a market cap of $342.56 billion, a P/E ratio of 821.15, a PEG ratio of 11.47 and a beta of 0.93.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data 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 firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s quarterly revenue 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. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 2.31 EPS for the current fiscal year.

Analysts Set New Price Targets

PANW has been the topic of several analyst reports. TD Cowen reiterated a “buy” rating and issued a $440.00 target price (up from $400.00) on shares of Palo Alto Networks in a report on Friday, October 2nd. Robert W. Baird set a $420.00 price objective on shares of Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Morgan Stanley set a $410.00 target price on shares of Palo Alto Networks and gave the stock an “overweight” rating in a research note on Monday, September 21st. Wells Fargo & Company restated an “overweight” rating and issued a $475.00 target price (up from $420.00) on shares of Palo Alto Networks in a report on Monday, August 17th. Finally, Truist Financial set a $400.00 price target on shares of Palo Alto Networks in a research report on Wednesday, September 2nd. Thirty-eight investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $391.32.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Dipak Golechha sold 27,500 shares of Palo Alto Networks 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 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director James J. Goetz sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $376.68, for a total transaction of $7,533,600.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,210 shares of company stock worth $20,823,029 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Palo Alto Networks Company 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.