Seaport Global Advisors LLC Has $479,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Seaport Global Advisors LLC reduced its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 32.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,413 shares of the network technology company’s stock after selling 691 shares during the quarter. Palo Alto Networks accounts for about 1.7% of Seaport Global Advisors LLC’s holdings, making the stock its 29th biggest position. Seaport Global Advisors LLC’s holdings in Palo Alto Networks were worth $479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PANW. Kathmere Capital Management LLC increased its holdings in Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares in the last quarter. Cascade Investment Group Inc. grew its holdings in Palo Alto Networks by 2.9% during the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after buying an additional 31 shares in the last quarter. Sheets Smith Wealth Management raised its position in Palo Alto Networks by 2.4% in the 1st quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock valued at $420,000 after buying an additional 34 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in Palo Alto Networks by 41.2% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the network technology company’s stock valued at $35,000 after acquiring an additional 35 shares in the last quarter. Finally, First County Bank CT boosted its holdings in Palo Alto Networks by 1.0% during the 4th quarter. First County Bank CT now owns 3,537 shares of the network technology company’s stock worth $1,043,000 after acquiring an additional 35 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

PANW has been the subject of several analyst reports. KeyCorp increased their target price on shares of Palo Alto Networks from $380.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Susquehanna lifted their target price on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a research report on Thursday, September 5th. Wells Fargo & Company upped their target price on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Rosenblatt Securities lifted their price target on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Truist Financial boosted their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Twelve equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $369.26.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the transaction, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 359,732 shares of company stock worth $118,815,557. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Down 0.9 %

Shares of Palo Alto Networks stock opened at $335.75 on Monday. The company’s 50-day moving average price is $337.12 and its 200-day moving average price is $315.53. Palo Alto Networks, Inc. has a 12-month low of $230.09 and a 12-month high of $380.84. The company has a market cap of $109.32 billion, a price-to-earnings ratio of 48.80, a PEG ratio of 4.98 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

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.