Fort Point Capital Partners LLC Takes Position in Palo Alto Networks, Inc. (PANW)

Fort Point Capital Partners LLC purchased 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 (SEC). The firm purchased 4,900 shares of the network technology company’s stock, valued at approximately $552,000.

Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Palo Alto Networks by 24.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,845,000 shares of the network technology company’s stock valued at $230,717,000 after buying an additional 362,900 shares in the last quarter. Lyell Wealth Management LP bought a new stake in shares of Palo Alto Networks during the fourth quarter valued at $10,407,000. First Allied Advisory Services Inc. bought a new stake in shares of Palo Alto Networks during the fourth quarter valued at $270,000. Advisory Research Inc. bought a new stake in shares of Palo Alto Networks during the fourth quarter valued at $890,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Palo Alto Networks during the fourth quarter valued at $488,000. 80.60% of the stock is currently owned by institutional investors and hedge funds.

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

Palo Alto Networks, Inc. (NYSE:PANW) traded down 0.34% during trading on Friday, hitting $131.59. The company had a trading volume of 1,273,469 shares. The company’s market capitalization is $12.08 billion. The stock has a 50-day moving average of $122.16 and a 200 day moving average of $127.24. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $165.69.

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

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Several equities research analysts have weighed in on PANW shares. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $173.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 23rd. Wells Fargo & Company reissued an “outperform” rating and issued a $185.00 price target (down previously from $195.00) on shares of Palo Alto Networks in a research note on Friday, March 3rd. Zacks Investment Research raised Palo Alto Networks from a “hold” rating to a “strong-buy” rating and set a $178.00 price target for the company in a research note on Tuesday, February 21st. TheStreet cut Palo Alto Networks from a “c-” rating to a “d+” rating in a research note on Thursday, March 23rd. Finally, BMO Capital Markets increased their price target on Palo Alto Networks from $150.00 to $160.00 and gave the stock a “market perform” rating in a research note on Monday, February 27th. Nineteen research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $150.53.

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.

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