Two Sigma Securities LLC Has $981,000 Stock Holdings in Palo Alto Networks, Inc. $PANW

Two Sigma Securities LLC decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 34.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,878 shares of the network technology company’s stock after selling 1,503 shares during the quarter. Two Sigma Securities LLC’s holdings in Palo Alto Networks were worth $981,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. GTS Securities LLC raised its holdings in shares of Palo Alto Networks by 240.0% during the 2nd quarter. GTS Securities LLC now owns 21,612 shares of the network technology company’s stock valued at $7,370,000 after purchasing an additional 15,255 shares in the last quarter. Nichols & Pratt Advisers LLP MA boosted its holdings in Palo Alto Networks by 3.9% in the second quarter. Nichols & Pratt Advisers LLP MA now owns 2,130 shares of the network technology company’s stock worth $726,000 after purchasing an additional 80 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Palo Alto Networks during the second quarter worth $250,000. Sheets Smith Wealth Management increased its position in Palo Alto Networks by 44.3% during the second quarter. Sheets Smith Wealth Management now owns 19,881 shares of the network technology company’s stock worth $6,780,000 after buying an additional 6,107 shares during the last quarter. Finally, Greenleaf Trust raised its holdings in Palo Alto Networks by 4.3% during the second quarter. Greenleaf Trust now owns 17,345 shares of the network technology company’s stock valued at $5,915,000 after buying an additional 722 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In other news, CAO Josh D. Paul sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $353.77, for a total transaction of $318,393.00. Following the completion of the transaction, the chief accounting officer directly owned 73,354 shares in the company, valued at $25,950,444.58. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aparna Bawa sold 290 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $348.74, for a total value of $101,134.60. Following the completion of the sale, the director directly owned 6,437 shares of the company’s stock, valued at $2,244,839.38. This represents a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 37,735 shares of company stock worth $10,814,266 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley set a $400.00 price target on Palo Alto Networks in a research report on Monday, August 17th. Deutsche Bank Aktiengesellschaft increased their price objective on Palo Alto Networks from $220.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. HSBC raised their price objective on Palo Alto Networks from $114.00 to $207.00 in a research note on Thursday, June 4th. Argus set a $425.00 target price on Palo Alto Networks in a research report on Tuesday, July 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $434.00 target price (up from $330.00) on shares of Palo Alto Networks in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, forty have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $370.87.

Palo Alto Networks Stock Up 2.8%

PANW stock opened at $382.13 on Tuesday. 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. The company has a 50-day moving average of $346.54 and a two-hundred day moving average of $250.56. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $398.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, June 2nd. The network technology company reported $0.85 EPS for the quarter, topping 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 business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company posted $0.37 earnings per share. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.01 EPS for the current year.

About Palo Alto Networks

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.