Fountainhead AM LLC Takes $222,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fountainhead AM LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,301 shares of the network technology company's stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Palo Alto Networks by 147.7% in the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock worth $1,230,000 after purchasing an additional 4,031 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Palo Alto Networks by 115.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock worth $8,004,000 after purchasing an additional 23,586 shares during the period. Proficio Capital Partners LLC boosted its stake in Palo Alto Networks by 215.8% in the 4th quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company's stock worth $440,000 after purchasing an additional 1,651 shares during the period. Whittier Trust Co. boosted its stake in Palo Alto Networks by 130.8% in the 4th quarter. Whittier Trust Co. now owns 15,094 shares of the network technology company's stock worth $2,746,000 after purchasing an additional 8,553 shares during the period. Finally, Douglass Winthrop Advisors LLC bought a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $437,000. Hedge funds and other institutional investors own 79.82% of the company's stock.

Insider Buying and Selling

In related news, Director Aparna Bawa sold 526 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $190.00, for a total transaction of $99,940.00. Following the transaction, the director owned 8,632 shares of the company's stock, valued at $1,640,080. This represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the transaction, the executive vice president owned 101,135 shares of the company's stock, valued at $20,414,099.75. The trade was a 4.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 569,248 shares of company stock worth $111,279,829. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

PANW opened at $195.78 on Friday. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The company has a market cap of $130.55 billion, a P/E ratio of 111.87, a PEG ratio of 5.47 and a beta of 0.97. The business's 50-day simple moving average is $195.58 and its 200-day simple moving average is $186.06.

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 analysts' consensus estimates 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 return on equity of 19.48% and a net margin of 13.95%. The business's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 EPS. As a group, analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PANW shares. Wells Fargo & Company raised their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Morgan Stanley decreased their price target on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Sanford C. Bernstein set a $225.00 target price on Palo Alto Networks and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a research report on Thursday, April 10th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.16.

About Palo Alto Networks

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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