Hills Bank & Trust Co Raises Stake in Palo Alto Networks, Inc. (NYSE:PANW)

Share on StockTwits

Hills Bank & Trust Co boosted its position in Palo Alto Networks, Inc. (NYSE:PANW) by 36.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,498 shares of the network technology company’s stock after buying an additional 2,005 shares during the quarter. Hills Bank & Trust Co’s holdings in Palo Alto Networks were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board raised its holdings in Palo Alto Networks by 22.2% in the second quarter. Canada Pension Plan Investment Board now owns 1,891,937 shares of the network technology company’s stock worth $434,521,000 after purchasing an additional 343,350 shares in the last quarter. Eminence Capital LP boosted its holdings in Palo Alto Networks by 1.5% during the 2nd quarter. Eminence Capital LP now owns 540,362 shares of the network technology company’s stock worth $124,105,000 after acquiring an additional 8,116 shares during the last quarter. Swiss National Bank boosted its holdings in Palo Alto Networks by 2.7% during the 2nd quarter. Swiss National Bank now owns 439,486 shares of the network technology company’s stock worth $100,937,000 after acquiring an additional 11,700 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Palo Alto Networks by 5.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 438,928 shares of the network technology company’s stock worth $100,809,000 after acquiring an additional 24,152 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Palo Alto Networks by 170.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 343,968 shares of the network technology company’s stock worth $78,999,000 after acquiring an additional 216,560 shares during the last quarter. 78.50% of the stock is owned by institutional investors and hedge funds.

PANW traded down $7.59 during midday trading on Friday, hitting $221.18. The stock had a trading volume of 20,620 shares, compared to its average volume of 1,339,436. The company has a market cap of $21.73 billion, a P/E ratio of -83.19 and a beta of 1.17. The business has a fifty day moving average of $243.79 and a 200 day moving average of $235.30. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.91 and a current ratio of 1.91. Palo Alto Networks, Inc. has a 1 year low of $125.47 and a 1 year high of $275.03.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Monday, August 24th. The network technology company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.09. The business had revenue of $950.40 million during the quarter, compared to analyst estimates of $924.29 million. Palo Alto Networks had a negative return on equity of 9.61% and a negative net margin of 7.83%. Palo Alto Networks’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.47 earnings per share. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post -0.21 earnings per share for the current year.

A number of brokerages recently weighed in on PANW. Credit Suisse Group boosted their price target on shares of Palo Alto Networks from $195.00 to $230.00 and gave the stock a “neutral” rating in a report on Tuesday, August 25th. DA Davidson boosted their price target on shares of Palo Alto Networks from $290.00 to $310.00 in a report on Tuesday, August 18th. Barclays boosted their price target on shares of Palo Alto Networks from $280.00 to $299.00 and gave the stock an “overweight” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. boosted their price target on shares of Palo Alto Networks from $236.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, August 25th. Finally, Stifel Nicolaus boosted their price target on shares of Palo Alto Networks from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $291.32.

In other news, Director Mark D. Mclaughlin sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $259.16, for a total transaction of $6,479,000.00. Following the completion of the sale, the director now owns 92,322 shares of the company’s stock, valued at $23,926,169.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $254.33, for a total value of $3,051,960.00. Following the transaction, the executive vice president now owns 944,469 shares of the company’s stock, valued at approximately $240,206,800.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,756 shares of company stock valued at $18,569,240. Insiders own 2.30% of the company’s stock.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software 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.

Featured Article: What is the Consumer Price Index (CPI)?

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

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.