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

FFG Partners LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 51.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 approximately 4.2% of FFG Partners LLC's portfolio, making the stock its 12th largest position. FFG Partners LLC's holdings in Palo Alto Networks were worth $10,265,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PANW. Transce3nd LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL lifted its position in shares of Palo Alto Networks by 64.0% in the 4th 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 period. Capital Advisors Ltd. LLC lifted its position in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 79 shares during the period. Anchor Investment Management LLC increased its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 78 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. increased its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after acquiring an additional 75 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $201.69 on Wednesday. The company's 50-day moving average is $188.66 and its 200 day moving average is $185.20. The company has a market capitalization of $134.49 billion, a P/E ratio of 115.25, a price-to-earnings-growth ratio of 5.67 and a beta of 0.97. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company's revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several research analyst reports. Roth Capital initiated coverage on shares of Palo Alto Networks in a research note on Thursday, May 15th. They issued a "neutral" rating and a $210.00 price objective for the company. Jefferies Financial Group lifted their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Morgan Stanley lowered their price objective on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the sale, the executive vice president now directly owns 321,774 shares in the company, valued at $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nikesh Arora sold 227,414 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares in the company, valued at approximately $54,854,038.83. This represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 795,536 shares of company stock valued at $141,007,618 over the last three months. 2.50% of the stock is currently owned by insiders.

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.

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