Fox Run Management L.L.C. Invests $1.14 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fox Run Management L.L.C. bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 6,663 shares of the network technology company's stock, valued at approximately $1,137,000.

Other institutional investors have also modified their holdings of the company. Transce3nd LLC purchased a new stake in shares of Palo Alto Networks during the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 64.0% during 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. Anchor Investment Management LLC grew its holdings in shares of Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares during the period. Capital A Wealth Management LLC purchased a new position in Palo Alto Networks in the 4th quarter worth approximately $29,000. Finally, HWG Holdings LP purchased a new position in Palo Alto Networks in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 79.82% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PANW. Northland Securities decreased their price target on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a report on Wednesday, May 21st. Roth Capital began coverage on Palo Alto Networks in a report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 price target for the company. DA Davidson decreased their price target on Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. reduced their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Finally, Stephens cut Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average target price of $217.01.

Insider Activity

In related news, Director Aparna Bawa sold 526 shares of Palo Alto Networks stock in a transaction dated 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 directly owned 8,632 shares of the company's stock, valued at $1,640,080. The trade was a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction dated 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 transaction, the executive vice president directly owned 101,135 shares in the company, valued at approximately $20,414,099.75. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 669,248 shares of company stock valued at $126,423,337 over the last quarter. Insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of PANW opened at $173.55 on Friday. The firm has a market capitalization of $115.72 billion, a price-to-earnings ratio of 99.17, a price-to-earnings-growth ratio of 4.20 and a beta of 0.94. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $210.39. The stock's fifty day moving average is $192.45 and its 200-day moving average is $186.52.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $2.29 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. Analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.