Palo Alto Networks Inc (NYSE:PANW) Position Cut by Hancock Whitney Corp

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Hancock Whitney Corp trimmed its holdings in Palo Alto Networks Inc (NYSE:PANW) by 17.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,727 shares of the network technology company’s stock after selling 1,607 shares during the quarter. Hancock Whitney Corp’s holdings in Palo Alto Networks were worth $1,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the stock. Gryphon Financial Partners LLC bought a new position in Palo Alto Networks during the 4th quarter valued at $353,000. Trust Co. of Vermont boosted its stake in Palo Alto Networks by 95.9% during the 4th quarter. Trust Co. of Vermont now owns 9,119 shares of the network technology company’s stock valued at $2,109,000 after purchasing an additional 4,464 shares in the last quarter. Lyell Wealth Management LP boosted its stake in Palo Alto Networks by 2.4% during the 4th quarter. Lyell Wealth Management LP now owns 38,246 shares of the network technology company’s stock valued at $8,844,000 after purchasing an additional 884 shares in the last quarter. Vontobel Swiss Wealth Advisors AG boosted its stake in Palo Alto Networks by 2.9% during the 4th quarter. Vontobel Swiss Wealth Advisors AG now owns 24,890 shares of the network technology company’s stock valued at $5,756,000 after purchasing an additional 694 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Palo Alto Networks by 3.9% during the 4th quarter. Rhumbline Advisers now owns 96,041 shares of the network technology company’s stock valued at $22,209,000 after purchasing an additional 3,628 shares in the last quarter. 78.91% of the stock is owned by institutional investors and hedge funds.

PANW opened at $247.25 on Friday. The stock has a fifty day moving average of $239.68 and a 200-day moving average of $224.59. The firm has a market capitalization of $24.06 billion, a P/E ratio of 1,067.87 and a beta of 0.96. Palo Alto Networks Inc has a 12-month low of $192.17 and a 12-month high of $260.63. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.20.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Monday, November 25th. The network technology company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $1.22. The company had revenue of $772.00 million during the quarter, compared to analyst estimates of $769.34 million. Palo Alto Networks had a positive return on equity of 2.43% and a negative net margin of 3.42%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, analysts expect that Palo Alto Networks Inc will post -0.12 earnings per share for the current fiscal year.

In related news, Director Mark D. Mclaughlin sold 19,050 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $249.03, for a total transaction of $4,744,021.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 12,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $226.39, for a total value of $2,716,680.00. Insiders sold 46,562 shares of company stock valued at $11,132,020 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.

A number of equities analysts have issued reports on the company. SunTrust Banks reaffirmed a “buy” rating and set a $246.00 price target on shares of Palo Alto Networks in a research note on Tuesday, November 26th. Mizuho increased their price target on Palo Alto Networks from to in a research note on Thursday. Citigroup raised their price objective on Palo Alto Networks from $247.00 to $283.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Credit Suisse Group reissued a “sell” rating and set a $195.00 price objective on shares of Palo Alto Networks in a research note on Thursday, November 28th. Finally, Northland Securities reissued a “hold” rating and set a $240.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $265.09.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

Further Reading: 52-Week High/Low Prices For Stock Selection

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks Inc (NYSE:PANW).

Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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