Fisher Asset Management LLC Purchases 121 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Fisher Asset Management LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,806 shares of the network technology company’s stock after acquiring an additional 121 shares during the period. Fisher Asset Management LLC’s holdings in Palo Alto Networks were worth $533,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PANW. Frank Rimerman Advisors LLC bought a new stake in Palo Alto Networks during the 4th quarter worth $27,000. Webster Bank N. A. grew its position in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after buying an additional 47 shares during the period. MV Capital Management Inc. lifted its holdings in Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after buying an additional 29 shares during the period. Finally, First United Bank & Trust acquired a new position in Palo Alto Networks during the 4th quarter worth about $35,000. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PANW. Royal Bank of Canada cut their target price on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Daiwa Capital Markets began coverage on Palo Alto Networks in a report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 target price on the stock. BMO Capital Markets lifted their target price on Palo Alto Networks from $327.00 to $334.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $330.00 target price on shares of Palo Alto Networks in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Twelve research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.17.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the transaction, the director now directly owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, the director now owns 3,767 shares in the company, valued at $1,167,770. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John P. Key sold 2,163 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the sale, the director now owns 12,639 shares in the company, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,182 shares of company stock valued at $74,850,597. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Up 3.0 %

PANW stock opened at $320.33 on Monday. The firm has a market cap of $103.72 billion, a PE ratio of 46.56, a P/E/G ratio of 4.77 and a beta of 1.10. The business has a 50 day moving average of $301.84 and a 200-day moving average of $306.17. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. On average, research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current 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.