GAMMA Investing LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 19.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,094 shares of the network technology company’s stock after buying an additional 4,461 shares during the quarter. GAMMA Investing LLC’s holdings in Palo Alto Networks were worth $9,240,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Trilogy Capital Inc. increased its stake in shares of Palo Alto Networks by 1.8% in the 2nd quarter. Trilogy Capital Inc. now owns 2,127 shares of the network technology company’s stock worth $725,000 after acquiring an additional 37 shares during the last quarter. Wisconsin Wealth Advisors LLC boosted its position in shares of Palo Alto Networks by 1.2% during the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 3,206 shares of the network technology company’s stock valued at $1,093,000 after acquiring an additional 38 shares during the last quarter. GSG Advisors LLC grew its holdings in shares of Palo Alto Networks by 0.4% in the first quarter. GSG Advisors LLC now owns 12,536 shares of the network technology company’s stock valued at $2,010,000 after purchasing an additional 51 shares during the period. Outfitters Financial LLC grew its holdings in shares of Palo Alto Networks by 1.7% in the fourth quarter. Outfitters Financial LLC now owns 3,265 shares of the network technology company’s stock valued at $601,000 after purchasing an additional 55 shares during the period. Finally, Arlington Trust Co LLC increased its position in Palo Alto Networks by 8.5% during the second quarter. Arlington Trust Co LLC now owns 703 shares of the network technology company’s stock worth $240,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.
Palo Alto Networks Stock Performance
NASDAQ:PANW opened at $366.34 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $298.57 billion, a P/E ratio of 300.28, a PEG ratio of 11.67 and a beta of 0.91. The company has a 50 day moving average price of $311.92 and a 200 day moving average price of $224.81. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $368.80.
Insiders Place Their Bets
In related news, Director Helle Thorning-Schmidt sold 700 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $346.85, for a total value of $242,795.00. Following the sale, the director owned 5,898 shares in the company, valued at approximately $2,045,721.30. The trade was a 10.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aparna Bawa sold 290 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $348.74, for a total value of $101,134.60. Following the transaction, the director directly owned 6,437 shares in the company, valued at approximately $2,244,839.38. The trade was a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 101,239 shares of company stock valued at $27,174,360. Insiders own 1.40% of the company’s stock.
Analysts Set New Price Targets
PANW has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their target price on shares of Palo Alto Networks from $255.00 to $330.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Evercore restated an “outperform” rating and set a $415.00 price target on shares of Palo Alto Networks in a report on Wednesday, July 8th. Sanford C. Bernstein raised their target price on Palo Alto Networks from $209.00 to $253.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Capital One Financial set a $421.00 target price on Palo Alto Networks and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Loop Capital upped their price target on Palo Alto Networks from $160.00 to $290.00 and gave the company a “hold” rating in a research note on Wednesday, June 3rd. One 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 issued a Sell rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $332.57.
Check Out Our Latest Analysis on PANW
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.
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