Freemont Management S.A. Lowers Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Freemont Management S.A. reduced its stake in Palo Alto Networks by 9.2%, now holding 12,900 shares valued at $2,201,000.
• Palo Alto Networks' stock rose 1.0% to $203.27, with a market capitalization of $135.54 billion and a PE ratio of 116.15.
• Equities research analysts have varied ratings for Palo Alto Networks, with an average rating of "Moderate Buy" and a consensus target price of $209.42.

Freemont Management S.A. lessened its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 9.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,900 shares of the network technology company's stock after selling 1,300 shares during the period. Freemont Management S.A.'s holdings in Palo Alto Networks were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Transce3nd LLC purchased a new stake in shares of Palo Alto Networks in the 4th quarter valued at $25,000. Strategic Investment Solutions Inc. IL boosted its stake 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 valued at $26,000 after purchasing an additional 55 shares in the last quarter. Anchor Investment Management LLC boosted 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 purchasing an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. boosted 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 purchasing an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Palo Alto Networks in the 4th quarter valued at $29,000. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Up 1.0%

Shares of NASDAQ PANW traded up $2.11 during trading on Friday, reaching $203.27. 3,457,359 shares of the company traded hands, compared to its average volume of 4,288,193. The firm has a 50 day simple moving average of $196.34 and a 200-day simple moving average of $186.72. The stock has a market capitalization of $135.54 billion, a PE ratio of 116.15, a P/E/G ratio of 5.62 and a beta of 0.97. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 13.95% and a return on equity of 19.48%. The business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total value of $19,866,000.00. Following the transaction, the executive vice president owned 3,243,516 shares of the company's stock, valued at approximately $644,356,888.56. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 569,248 shares of company stock valued at $111,279,829 in the last 90 days. 2.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Roth Capital initiated coverage on shares of Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target for the company. KeyCorp restated an "overweight" rating and issued a $220.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. JPMorgan Chase & Co. decreased their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a report on Monday, May 19th. Two 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $209.42.

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.