Segall Bryant & Hamill LLC Acquires 5,304 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Segall Bryant & Hamill LLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.0% in the third quarter, HoldingsChannel.com reports. The firm owned 93,872 shares of the network technology company’s stock after buying an additional 5,304 shares during the period. Segall Bryant & Hamill LLC’s holdings in Palo Alto Networks were worth $32,085,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mainstream Capital Management LLC bought a new stake in shares of Palo Alto Networks in the 3rd quarter worth $1,156,000. Alpha Cubed Investments LLC grew its stake in shares of Palo Alto Networks by 16.4% in the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after acquiring an additional 32,626 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Palo Alto Networks by 3.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock worth $67,232,000 after acquiring an additional 7,291 shares in the last quarter. Harvest Portfolios Group Inc. bought a new stake in shares of Palo Alto Networks in the 3rd quarter worth $24,414,000. Finally, Parsons Capital Management Inc. RI grew its stake in shares of Palo Alto Networks by 4.5% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock worth $914,000 after acquiring an additional 116 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In related news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This trade represents a 27.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 11.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,252 shares of company stock valued at $89,041,637. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PANW shares. Northland Securities upped their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 20th. Barclays boosted their price target on shares of Palo Alto Networks from $410.00 to $425.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. BTIG Research boosted their price target on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Piper Sandler boosted their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, The Goldman Sachs Group boosted their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $391.92.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $388.06 on Wednesday. Palo Alto Networks, Inc. has a one year low of $249.56 and a one year high of $408.53. The firm’s 50 day simple moving average is $361.53 and its two-hundred day simple moving average is $338.02. The stock has a market capitalization of $126.35 billion, a P/E ratio of 53.53, a PEG ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

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.