SeaCrest Wealth Management LLC Acquires 914 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

SeaCrest Wealth Management LLC grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,775 shares of the network technology company’s stock after acquiring an additional 914 shares during the period. SeaCrest Wealth Management LLC’s holdings in Palo Alto Networks were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Worth Asset Management LLC bought a new position in shares of Palo Alto Networks in the first quarter worth about $26,000. First Pacific Financial raised its stake in Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after acquiring an additional 97 shares during the period. Pin Oak Investment Advisors Inc. purchased a new position in Palo Alto Networks during the second quarter valued at approximately $28,000. Fortis Capital Advisors LLC bought a new position in shares of Palo Alto Networks in the fourth quarter worth approximately $28,000. Finally, Cedar Mountain Advisors LLC increased its stake in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PANW. Mizuho dropped their target price on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Oppenheimer dropped their price objective on Palo Alto Networks from $310.00 to $305.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. KeyCorp decreased their target price on Palo Alto Networks from $390.00 to $380.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Royal Bank of Canada upped their price target on Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, Loop Capital downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The disclosure for this sale can be found here. Insiders sold 143,153 shares of company stock valued at $44,107,332 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 0.7 %

Shares of PANW traded up $1.87 during midday trading on Thursday, reaching $284.13. 3,399,301 shares of the stock were exchanged, compared to its average volume of 6,021,142. The company has a market capitalization of $91.80 billion, a P/E ratio of 44.40, a PEG ratio of 3.91 and a beta of 1.21. Palo Alto Networks, Inc. has a 52 week low of $176.30 and a 52 week high of $380.84. The company’s 50 day moving average is $319.37 and its two-hundred day moving average is $286.07.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.76 EPS for the current 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.