Segall Bryant & Hamill LLC Has $29.73 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Segall Bryant & Hamill LLC lessened its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,205 shares of the network technology company's stock after selling 8,818 shares during the quarter. Segall Bryant & Hamill LLC's holdings in Palo Alto Networks were worth $29,726,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PANW. Transce3nd LLC acquired a new position in Palo Alto Networks during the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL grew its position in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Anchor Investment Management LLC grew its position in Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. raised its stake in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after buying an additional 75 shares during the period. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Trading Down 0.2%

Shares of PANW stock traded down $0.42 during trading hours on Friday, hitting $195.86. The company's stock had a trading volume of 1,121,641 shares, compared to its average volume of 5,395,098. The stock has a market cap of $130.60 billion, a price-to-earnings ratio of 111.98, a P/E/G ratio of 5.38 and a beta of 0.97. The business has a fifty day moving average of $195.41 and a 200-day moving average of $185.94. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business posted $0.66 EPS. Palo Alto Networks's revenue was up 15.3% on a year-over-year basis. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $200.86, for a total value of $24,258,665.64. Following the sale, the executive vice president directly owned 235,482 shares in the company, valued at $47,298,914.52. The trade was a 33.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Aparna Bawa sold 526 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the sale, the director owned 8,632 shares in the company, valued at $1,640,080. This represents a 5.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 569,248 shares of company stock worth $111,279,829 in the last three months. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial cut their price target on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Northland Securities reduced their price objective on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. Jefferies Financial Group lifted their price objective on Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. Finally, Roth Capital began coverage on Palo Alto Networks in a report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

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.