FFG Partners LLC Acquires 20,317 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

FFG Partners LLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 51.0% during the first quarter, Holdings Channel reports. The fund owned 60,156 shares of the network technology company’s stock after buying an additional 20,317 shares during the period. Palo Alto Networks comprises about 4.2% of FFG Partners LLC’s investment portfolio, making the stock its 12th biggest position. FFG Partners LLC’s holdings in Palo Alto Networks were worth $10,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PANW. Strategic Investment Solutions Inc. IL boosted its position in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. JDM Financial Group LLC boosted its position in Palo Alto Networks by 22.4% in the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock worth $59,000 after purchasing an additional 59 shares during the last quarter. Adero Partners LLC boosted its position in Palo Alto Networks by 4.3% in the first quarter. Adero Partners LLC now owns 1,556 shares of the network technology company’s stock worth $266,000 after purchasing an additional 64 shares during the last quarter. Snider Financial Group boosted its position in Palo Alto Networks by 0.4% in the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock worth $3,025,000 after purchasing an additional 65 shares during the last quarter. Finally, Grimes & Company Inc. boosted its position in Palo Alto Networks by 5.3% in the first quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company’s stock worth $224,000 after purchasing an additional 66 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares of the company’s stock, valued at $48,629,704.62. This represents a 27.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $201.05, for a total value of $160,840.00. Following the transaction, the chief accounting officer now directly owns 42,033 shares in the company, valued at $8,450,734.65. The trade was a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 795,536 shares of company stock valued at $141,007,618 in the last quarter. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $201.69 on Wednesday. The company has a market cap of $134.49 billion, a P/E ratio of 115.25, a P/E/G ratio of 5.67 and a beta of 0.97. The business’s 50 day moving average price is $188.66 and its 200-day moving average price is $185.20. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Guggenheim reissued a “sell” rating and issued a $130.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. KeyCorp reissued an “overweight” rating and issued a $220.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Morgan Stanley dropped their target price on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price objective on Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. Finally, HSBC raised Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective on the stock in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $208.00.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.