Hills Bank & Trust Co. Sells 148 Shares of Palo Alto Networks Inc (NYSE:PANW)

Hills Bank & Trust Co. reduced its stake in Palo Alto Networks Inc (NYSE:PANW) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,512 shares of the network technology company’s stock after selling 148 shares during the period. Hills Bank & Trust Co.’s holdings in Palo Alto Networks were worth $1,506,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Acorn Financial Advisory Services Inc. ADV bought a new stake in Palo Alto Networks during the fourth quarter worth $557,000. United Capital Management of KS Inc. bought a new stake in Palo Alto Networks during the fourth quarter worth $737,000. S&CO Inc. lifted its stake in Palo Alto Networks by 14.2% during the fourth quarter. S&CO Inc. now owns 7,519 shares of the network technology company’s stock worth $1,739,000 after purchasing an additional 935 shares during the last quarter. Bay Rivers Group bought a new stake in Palo Alto Networks during the fourth quarter worth $506,000. Finally, State of Michigan Retirement System lifted its stake in Palo Alto Networks by 37.5% during the fourth quarter. State of Michigan Retirement System now owns 110,000 shares of the network technology company’s stock worth $25,438,000 after purchasing an additional 30,000 shares during the last quarter. Institutional investors and hedge funds own 79.13% of the company’s stock.

In related news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $232.10, for a total value of $2,785,200.00. Following the transaction, the executive vice president now owns 900,546 shares of the company’s stock, valued at approximately $209,016,726.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average cost of $221.54 per share, for a total transaction of $5,538,500.00. Following the transaction, the chief executive officer now owns 479,429 shares in the company, valued at approximately $106,212,700.66. The disclosure for this purchase can be found here. Insiders have sold a total of 39,512 shares of company stock worth $9,173,199 in the last three months. Insiders own 2.30% of the company’s stock.

Several research firms have weighed in on PANW. Piper Jaffray Companies began coverage on Palo Alto Networks in a research note on Friday, November 8th. They set a “neutral” rating and a $270.00 target price for the company. BMO Capital Markets increased their price target on Palo Alto Networks from $245.00 to $248.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. SunTrust Banks reiterated a “buy” rating and issued a $246.00 price target on shares of Palo Alto Networks in a research note on Tuesday, November 26th. Goldman Sachs Group reiterated a “buy” rating and issued a $297.00 price target on shares of Palo Alto Networks in a research note on Thursday, January 2nd. Finally, Zacks Investment Research cut Palo Alto Networks from a “hold” rating to a “strong sell” rating and set a $233.00 price target for the company. in a research note on Friday, November 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $265.45.

Shares of PANW stock traded down $5.00 on Monday, reaching $237.90. 281,136 shares of the company were exchanged, compared to its average volume of 786,767. The company has a market cap of $23.79 billion, a price-to-earnings ratio of -220.27 and a beta of 0.94. The company has a 50-day moving average of $234.44 and a 200-day moving average of $222.38. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.78 and a quick ratio of 1.78. Palo Alto Networks Inc has a one year low of $192.17 and a one year high of $260.63.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Monday, November 25th. The network technology company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $1.22. The company had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $769.34 million. Palo Alto Networks had a negative net margin of 3.42% and a positive return on equity of 2.43%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 EPS. As a group, sell-side analysts predict that Palo Alto Networks Inc will post -0.12 EPS for the current year.

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.

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

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