Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC increased its stake in Palo Alto Networks by 11.2% and now holds approximately $11.79 million worth of shares, owning 69,118 shares after buying an additional 6,955 shares.
• Insider selling activity includes CAO Josh D. Paul selling 600 shares and EVP Dipak Golechha selling 5,000 shares, with corporate insiders having sold a total of 569,248 shares valued at over $111 million in the past three months.
• Palo Alto Networks has a current market cap of $135.54 billion and reported a 15.3% year-over-year revenue increase alongside earnings per share of $0.80, outperforming estimates.

Foundations Investment Advisors LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 11.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,118 shares of the network technology company's stock after buying an additional 6,955 shares during the quarter. Foundations Investment Advisors LLC's holdings in Palo Alto Networks were worth $11,794,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PANW. Uniting Wealth Partners LLC purchased a new stake in Palo Alto Networks in the fourth quarter valued at approximately $548,000. Rehmann Capital Advisory Group grew its holdings in Palo Alto Networks by 106.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock valued at $433,000 after purchasing an additional 1,226 shares during the period. GAMMA Investing LLC grew its holdings in Palo Alto Networks by 10.8% in the first quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock valued at $2,410,000 after purchasing an additional 1,374 shares during the period. Diligent Investors LLC lifted its position in Palo Alto Networks by 100.0% during the fourth quarter. Diligent Investors LLC now owns 3,430 shares of the network technology company's stock valued at $624,000 after buying an additional 1,715 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Palo Alto Networks by 8.0% during the first quarter. Nisa Investment Advisors LLC now owns 137,663 shares of the network technology company's stock valued at $23,491,000 after buying an additional 10,180 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PANW. TD Securities reaffirmed a "buy" rating and set a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. Northland Securities reduced their price target on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 21st. Guggenheim reaffirmed a "sell" rating and set a $130.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a research report on Thursday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat, Palo Alto Networks has an average rating of "Moderate Buy" and an average target price of $209.42.

Palo Alto Networks Price Performance

PANW traded down $7.90 during trading on Thursday, hitting $175.13. The company had a trading volume of 21,022,026 shares, compared to its average volume of 5,764,755. The company has a market cap of $116.78 billion, a PE ratio of 100.00, a P/E/G ratio of 5.41 and a beta of 0.97. The business has a 50-day moving average of $196.57 and a 200-day moving average of $187.15. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) 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. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the sale, the executive vice president owned 3,243,516 shares in the company, valued at $644,356,888.56. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $200.86, for a total transaction of $24,258,665.64. Following the transaction, the executive vice president owned 235,482 shares of the company's stock, valued at $47,298,914.52. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock valued at $111,279,829 over the last quarter. 2.50% of the stock is owned by company 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.