Segall Bryant & Hamill LLC Has $32.09 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Segall Bryant & Hamill LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,872 shares of the network technology company’s stock after purchasing an additional 5,304 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Palo Alto Networks were worth $32,085,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Avior Wealth Management LLC boosted its holdings in Palo Alto Networks by 116.6% during the third quarter. Avior Wealth Management LLC now owns 535 shares of the network technology company’s stock worth $183,000 after purchasing an additional 288 shares during the last quarter. Counterweight Ventures LLC boosted its holdings in Palo Alto Networks by 7.1% during the third quarter. Counterweight Ventures LLC now owns 7,907 shares of the network technology company’s stock worth $2,703,000 after purchasing an additional 523 shares during the last quarter. West Family Investments Inc. boosted its holdings in Palo Alto Networks by 35.8% during the third quarter. West Family Investments Inc. now owns 948 shares of the network technology company’s stock worth $324,000 after purchasing an additional 250 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Palo Alto Networks during the third quarter worth $174,124,000. Finally, Princeton Capital Management LLC acquired a new position in Palo Alto Networks during the third quarter worth $251,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on PANW shares. KeyCorp increased their price target on shares of Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Barclays increased their price target on shares of Palo Alto Networks from $410.00 to $425.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a research note on Monday, November 4th. OTR Global reiterated a “negative” rating on shares of Palo Alto Networks in a research note on Thursday, November 7th. Finally, UBS Group increased their price target on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $391.92.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $388.06 on Wednesday. The company has a market capitalization of $126.35 billion, a P/E ratio of 53.53, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a 52-week low of $249.56 and a 52-week high of $408.53. The company’s 50 day moving average price is $361.53 and its 200-day moving average price is $338.02.

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

Insider Transactions at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares in the company, valued at $10,983,359.33. The trade was a 24.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. This represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,252 shares of company stock worth $89,041,637. Company insiders own 2.50% of the company’s stock.

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.