Turn8 Private Wealth Inc. Sells 2,367 Shares of Palo Alto Networks, Inc. $PANW

Turn8 Private Wealth Inc. reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 16.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,241 shares of the network technology company’s stock after selling 2,367 shares during the period. Palo Alto Networks makes up about 3.3% of Turn8 Private Wealth Inc.’s portfolio, making the stock its 11th biggest holding. Turn8 Private Wealth Inc.’s holdings in Palo Alto Networks were worth $4,863,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PANW. B&D White Capital Company LLC bought a new position in shares of Palo Alto Networks during the first quarter worth approximately $353,000. Bridgewater Advisors Inc. acquired a new stake in shares of Palo Alto Networks in the second quarter valued at approximately $2,159,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Palo Alto Networks by 1.6% in the third 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 stake in shares of Palo Alto Networks by 126.6% in the third 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, St. Louis Financial Planners Asset Management LLC bought a new stake in shares of Palo Alto Networks in the third quarter valued at approximately $1,569,000. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PANW shares. Tigress Financial raised their price objective on Palo Alto Networks from $245.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. New Street Research set a $415.00 price target on Palo Alto Networks in a research note on Tuesday, August 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $425.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, September 8th. Guggenheim reissued a “neutral” rating on shares of Palo Alto Networks in a report on Wednesday, September 2nd. Finally, BTIG Research upped their price target on shares of Palo Alto Networks from $404.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Thirty-nine analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $398.55.

Palo Alto Networks Trading Down 1.4%

Shares of PANW opened at $326.36 on Wednesday. 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 firm has a market cap of $267.21 billion, a price-to-earnings ratio of 639.93, a PEG ratio of 9.49 and a beta of 0.96. The business’s fifty day moving average is $368.37 and its 200-day moving average is $275.05.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, September 1st. The network technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.04. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%. Palo Alto Networks’s revenue for the quarter was up 34.5% on a year-over-year basis. During the same period in the prior year, the company 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. Equities analysts anticipate that Palo Alto Networks, Inc. will post 2.32 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, Director Aparna Bawa sold 1,000 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $373.61, for a total value of $373,610.00. Following the completion of the transaction, the director owned 5,437 shares of the company’s stock, valued at approximately $2,031,317.57. This represents a 15.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Goetz sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were 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. In the last three months, insiders have sold 54,210 shares of company stock valued at $20,823,029. 0.55% of the stock is owned by company insiders.

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.