Palo Alto Networks Inc (PANW) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 94.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,389 shares of the network technology company’s stock after selling 52,691 shares during the period. Cubist Systematic Strategies LLC’s holdings in Palo Alto Networks were worth $696,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can increased its holdings in Palo Alto Networks by 193.7% during the second quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock worth $112,061,000 after buying an additional 359,685 shares during the last quarter. Atria Investments LLC increased its holdings in Palo Alto Networks by 37.0% during the second quarter. Atria Investments LLC now owns 3,289 shares of the network technology company’s stock worth $676,000 after buying an additional 889 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Palo Alto Networks by 2.6% during the second quarter. PNC Financial Services Group Inc. now owns 33,921 shares of the network technology company’s stock worth $6,970,000 after buying an additional 844 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Palo Alto Networks by 9.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 196,445 shares of the network technology company’s stock worth $40,364,000 after buying an additional 17,234 shares during the last quarter. Finally, IBM Retirement Fund purchased a new stake in Palo Alto Networks during the first quarter worth about $480,000. Institutional investors and hedge funds own 81.43% of the company’s stock.

In other Palo Alto Networks news, President Mark Anderson sold 30,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $231.92, for a total transaction of $6,957,600.00. Following the completion of the sale, the president now directly owns 140,841 shares in the company, valued at $32,663,844.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark D. Mclaughlin sold 40,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $235.24, for a total transaction of $9,409,600.00. The disclosure for this sale can be found here. Insiders sold 262,447 shares of company stock valued at $56,739,670 over the last 90 days. 4.80% of the stock is owned by company insiders.

PANW has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of Palo Alto Networks to $250.00 in a report on Friday, September 7th. Argus increased their target price on shares of Palo Alto Networks to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, June 5th. Morgan Stanley increased their target price on shares of Palo Alto Networks from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, June 5th. Maxim Group increased their target price on shares of Palo Alto Networks from $212.00 to $262.00 and gave the stock a “buy” rating in a research report on Tuesday, June 5th. Finally, Monness Crespi & Hardt increased their target price on shares of Palo Alto Networks from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $237.78.

PANW stock opened at $229.52 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.93 and a quick ratio of 1.93. Palo Alto Networks Inc has a 12 month low of $135.85 and a 12 month high of $239.50. The company has a market capitalization of $21.53 billion, a PE ratio of -417.31, a PEG ratio of 16.12 and a beta of 0.83.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, September 6th. The network technology company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. Palo Alto Networks had a negative net margin of 6.51% and a negative return on equity of 4.12%. The company had revenue of $658.10 million during the quarter, compared to analyst estimates of $634.14 million. During the same period last year, the business earned $0.92 earnings per share. Palo Alto Networks’s revenue was up 29.3% compared to the same quarter last year. equities research analysts predict that Palo Alto Networks Inc will post 0.61 EPS for the current year.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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