Fort Point Capital Partners LLC bought a new stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,900 shares of the network technology company’s stock, valued at approximately $552,000.

Several other institutional investors have also recently bought and sold shares of PANW. Vanguard Group Inc. increased its position in Palo Alto Networks by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,007,233 shares of the network technology company’s stock valued at $789,575,000 after buying an additional 263,433 shares during the last quarter. Renaissance Technologies LLC increased its position in Palo Alto Networks by 16.7% in the first quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock valued at $242,578,000 after buying an additional 307,800 shares during the last quarter. CI Global Investments Inc. increased its position in Palo Alto Networks by 17.4% in the first quarter. CI Global Investments Inc. now owns 1,580,240 shares of the network technology company’s stock valued at $178,061,000 after buying an additional 234,623 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Palo Alto Networks by 33.8% in the first quarter. Canada Pension Plan Investment Board now owns 807,113 shares of the network technology company’s stock valued at $90,945,000 after buying an additional 203,802 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its position in Palo Alto Networks by 19.8% in the first quarter. Champlain Investment Partners LLC now owns 661,360 shares of the network technology company’s stock valued at $74,522,000 after buying an additional 109,165 shares during the last quarter. 80.58% of the stock is currently owned by institutional investors.

Shares of Palo Alto Networks, Inc. (NYSE PANW) opened at 138.96 on Friday. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $165.69. The stock’s market cap is $12.76 billion. The firm has a 50-day moving average of $128.32 and a 200-day moving average of $127.52.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm had revenue of $431.80 million for the quarter, compared to the consensus estimate of $412.11 million. During the same quarter in the previous year, the firm earned $0.42 EPS. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, equities research analysts expect that Palo Alto Networks, Inc. will post $2.59 earnings per share for the current fiscal year.

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PANW has been the topic of a number of analyst reports. Vetr downgraded Palo Alto Networks from a “strong-buy” rating to a “hold” rating and set a $137.50 price target on the stock. in a research report on Thursday, June 1st. BMO Capital Markets reduced their price target on Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating on the stock in a research report on Friday, April 21st. BidaskClub downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. BTIG Research reissued a “buy” rating and set a $155.00 price target on shares of Palo Alto Networks in a research report on Thursday, June 1st. Finally, Cowen and Company restated an “outperform” rating and set a $165.00 target price (up from $150.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. Twenty-one analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $151.00.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the sale, the director now owns 271,645 shares of the company’s stock, valued at approximately $37,478,860.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.80% of the stock is owned by insiders.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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