Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 13.3% during the 4th quarter, Holdings Channel reports. The firm owned 7,775 shares of the network technology company’s stock after purchasing an additional 914 shares during the period. SeaCrest Wealth Management LLC’s holdings in Palo Alto Networks were worth $2,200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Worth Asset Management LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter worth $26,000. First Pacific Financial boosted its stake in Palo Alto Networks by 421.7% in the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after purchasing an additional 97 shares during the period. Pin Oak Investment Advisors Inc. purchased a new position in Palo Alto Networks during the 2nd quarter worth approximately $28,000. Fortis Capital Advisors LLC acquired a new stake in Palo Alto Networks during the 4th quarter valued at $28,000. Finally, Cedar Mountain Advisors LLC lifted its holdings in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In related news, EVP Lee Klarich sold 45,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the sale, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, the president now owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares in the company, valued at $67,955,958.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,153 shares of company stock worth $44,107,332. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW traded up $1.87 during mid-day trading on Thursday, reaching $284.13. The company had a trading volume of 3,399,301 shares, compared to its average volume of 6,021,142. The company’s 50-day moving average is $319.37 and its 200-day moving average is $286.07. The company has a market capitalization of $91.80 billion, a P/E ratio of 44.40, a P/E/G ratio of 3.91 and a beta of 1.21. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on PANW shares. Loop Capital cut Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Wednesday, February 21st. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. The Goldman Sachs Group boosted their target price on Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Raymond James downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Finally, Capital One Financial cut Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target for the company. in a research note on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Profile

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.