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

Segall Bryant & Hamill LLC lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 6.0% during the 3rd quarter, according to its most recent 13F filing 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 filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PANW. International Assets Investment Management LLC increased its stake in shares of Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company's stock valued at $1,113,948,000 after buying an additional 3,249,594 shares during the period. Swedbank AB acquired a new position in Palo Alto Networks in the 1st quarter valued at approximately $177,933,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Palo Alto Networks during the third quarter valued at $174,124,000. Altshuler Shaham Ltd lifted its holdings in shares of Palo Alto Networks by 444,100.0% during the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company's stock worth $150,520,000 after purchasing an additional 444,100 shares during the period. Finally, Congress Asset Management Co. acquired a new position in shares of Palo Alto Networks during the third quarter worth $94,875,000. 79.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PANW. Barclays raised their target price on Palo Alto Networks from $410.00 to $425.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Citigroup upped their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. Northland Securities raised their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a "market perform" rating in a report on Tuesday, August 20th. Evercore ISI increased their price objective on shares of Palo Alto Networks from $395.00 to $455.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price target on shares of Palo Alto Networks from $387.00 to $449.00 and gave the company an "overweight" rating in a research report on Monday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $391.92.

Palo Alto Networks Price Performance

NASDAQ:PANW traded down $1.10 on Wednesday, reaching $386.96. 1,623,532 shares of the company's stock were exchanged, compared to its average volume of 3,826,369. The stock has a fifty day simple moving average of $361.53 and a 200-day simple moving average of $338.02. Palo Alto Networks, Inc. has a 52 week low of $258.17 and a 52 week high of $408.53. The firm has a market cap of $125.99 billion, a price-to-earnings ratio of 53.53, a P/E/G ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company's revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now owns 31,517 shares in the company, valued at $10,983,359.33. This trade represents a 24.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the firm's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares in the company, 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 quarter, insiders sold 254,252 shares of company stock valued at $89,041,637. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Company 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.