Harvard University’s endowment invested in Palo Alto Networks, in the second quarter:
HMC sliced off more than two-fifths of its positions in Apple (ticker: AAPL) and Facebook stock (FB). It also bought more Class A shares of Alphabet (GOOGL), and initiated positions in Booking Holdings (BKNG) and Palo Alto Networks (PANW).
On Friday, Palo Alto Networks announced that Dave Peranich, VP of worldwide sales, was leaving the company.
Shares of the security firm ended down $15.36, or 7%, at $199.25 following a report that its head of sales resigned after three years on the job.
This is a great opportunity to get into Palo Alto Networks for the same price that Harvard paid, back in Q2! I own Check Point Software in the space, but I'm sure PANW is a fine company, too.