Two Sigma Securities LLC Sells 1,503 Shares of Palo Alto Networks, Inc. $PANW

Two Sigma Securities LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 34.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,878 shares of the network technology company’s stock after selling 1,503 shares during the period. Two Sigma Securities LLC’s holdings in Palo Alto Networks were worth $981,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PANW. BlackRock Inc. acquired a new stake in Palo Alto Networks during the second quarter worth about $25,833,462,000. State Street Corp raised its holdings in Palo Alto Networks by 2.0% in the 4th quarter. State Street Corp now owns 30,331,705 shares of the network technology company’s stock valued at $5,587,100,000 after acquiring an additional 594,789 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Palo Alto Networks by 0.9% in the 2nd quarter. Bank of America Corp DE now owns 22,681,876 shares of the network technology company’s stock worth $7,734,973,000 after acquiring an additional 205,123 shares during the period. Geode Capital Management LLC lifted its position in shares of Palo Alto Networks by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 15,989,257 shares of the network technology company’s stock worth $2,934,935,000 after acquiring an additional 540,756 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Palo Alto Networks by 8.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,778,963 shares of the network technology company’s stock worth $2,993,802,000 after purchasing an additional 706,003 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In other Palo Alto Networks news, Director Helle Thorning-Schmidt sold 700 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $346.85, for a total value of $242,795.00. Following the transaction, the director directly owned 5,898 shares in the company, valued at $2,045,721.30. The trade was a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aparna Bawa sold 290 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $348.74, for a total transaction of $101,134.60. Following the completion of the transaction, the director owned 6,437 shares in the company, valued at approximately $2,244,839.38. This trade represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 37,735 shares of company stock worth $10,814,266 in the last quarter. 1.40% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $382.13 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. The business’s fifty day moving average price is $346.54 and its two-hundred day moving average price is $250.56. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $398.88. The stock has a market capitalization of $311.44 billion, a price-to-earnings ratio of 313.22, a price-to-earnings-growth ratio of 11.74 and a beta of 0.91.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Palo Alto Networks had a return on equity of 10.53% and a net margin of 7.95%.The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business earned $0.37 earnings per share. The business’s revenue was up 31.1% on a year-over-year basis. As a group, analysts predict that Palo Alto Networks, Inc. will post 2.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of research reports. Truist Financial set a $435.00 price objective on Palo Alto Networks and gave the company a “buy” rating in a research report on Wednesday, August 19th. Morgan Stanley set a $400.00 target price on Palo Alto Networks in a research report on Monday, August 17th. Loop Capital lifted their price target on shares of Palo Alto Networks from $160.00 to $290.00 and gave the stock a “hold” rating in a research note on Wednesday, June 3rd. Wedbush boosted their price target on shares of Palo Alto Networks from $300.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Finally, Oppenheimer restated an “outperform” rating and issued a $400.00 price objective (up from $350.00) on shares of Palo Alto Networks in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $370.87.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next?generation firewalls as a core on?premises capability, alongside cloud?delivered security services and software for securing public and private clouds.