Sei Investments Co. Has $6.20 Million Stake in Palo Alto Networks, Inc. (PANW)
Sei Investments Co. raised its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 25.5% during the second quarter, Holdings Channel reports. The institutional investor owned 46,320 shares of the network technology company’s stock after buying an additional 9,399 shares during the period. Sei Investments Co.’s holdings in Palo Alto Networks were worth $6,199,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Palo Alto Networks by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,007,233 shares of the network technology company’s stock valued at $789,575,000 after buying an additional 263,433 shares in the last quarter. Renaissance Technologies LLC increased its stake in Palo Alto Networks by 16.7% in the first quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock valued at $242,578,000 after buying an additional 307,800 shares in the last quarter. Clearbridge Investments LLC increased its stake in Palo Alto Networks by 11.3% in the first quarter. Clearbridge Investments LLC now owns 1,888,116 shares of the network technology company’s stock valued at $212,753,000 after buying an additional 191,475 shares in the last quarter. CI Global Investments Inc. increased its stake in Palo Alto Networks by 17.4% in the first quarter. CI Global Investments Inc. now owns 1,580,240 shares of the network technology company’s stock valued at $178,061,000 after buying an additional 234,623 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its stake in Palo Alto Networks by 13,115.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock valued at $8,760,000 after buying an additional 1,163,306 shares in the last quarter. Institutional investors own 80.25% of the company’s stock.
Palo Alto Networks, Inc. (NYSE:PANW) opened at 131.43 on Wednesday. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $165.69. The stock’s market cap is $12.07 billion. The stock’s 50 day moving average price is $134.92 and its 200-day moving average price is $127.90.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Wednesday, May 31st. The network technology company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative return on equity of 23.77% and a negative net margin of 14.38%. The business had revenue of $431.80 million for the quarter, compared to the consensus estimate of $412.11 million. During the same quarter last year, the business posted $0.42 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. On average, analysts predict that Palo Alto Networks, Inc. will post $2.59 earnings per share for the current year.
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PANW has been the topic of several analyst reports. Vetr downgraded Palo Alto Networks from a “strong-buy” rating to a “hold” rating and set a $137.50 price objective on the stock. in a report on Thursday, June 1st. BMO Capital Markets decreased their target price on Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating for the company in a research report on Friday, April 21st. BidaskClub lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. BTIG Research reiterated a “buy” rating and issued a $155.00 target price on shares of Palo Alto Networks in a research report on Thursday, June 1st. Finally, Cowen and Company reiterated an “outperform” rating and issued a $165.00 target price (up previously from $150.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $150.94.
In other news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $137.97, for a total value of $4,139,100.00. Following the completion of the transaction, the director now owns 271,645 shares in the company, valued at approximately $37,478,860.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.
About Palo Alto Networks
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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