Palo Alto Networks, Inc. (PANW) Holdings Cut by HM Payson & Co.

HM Payson & Co. lessened its position in Palo Alto Networks, Inc. (NYSE:PANW) by 16.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,600 shares of the network technology company’s stock after selling 1,136 shares during the period. HM Payson & Co.’s holdings in Palo Alto Networks were worth $807,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PANW. Prudential Financial Inc. boosted its stake in shares of Palo Alto Networks by 83.8% during the 1st quarter. Prudential Financial Inc. now owns 5,220 shares of the network technology company’s stock valued at $588,000 after purchasing an additional 2,380 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Palo Alto Networks by 6.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 88,509 shares of the network technology company’s stock valued at $9,974,000 after purchasing an additional 5,399 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of Palo Alto Networks by 1.0% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,483 shares of the network technology company’s stock valued at $1,670,000 after purchasing an additional 124 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Palo Alto Networks during the 2nd quarter valued at about $415,000. Finally, Capstone Asset Management Co. boosted its stake in shares of Palo Alto Networks by 1.3% during the 2nd quarter. Capstone Asset Management Co. now owns 2,284 shares of the network technology company’s stock valued at $306,000 after purchasing an additional 30 shares in the last quarter. 76.85% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Palo Alto Networks, Inc. (PANW) Holdings Cut by HM Payson & Co.” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2017/11/12/palo-alto-networks-inc-panw-holdings-cut-by-hm-payson-co.html.

Shares of Palo Alto Networks, Inc. (NYSE PANW) traded up $1.35 during trading hours on Friday, hitting $140.35. 2,626,700 shares of the company were exchanged, compared to its average volume of 1,228,746. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.65. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $165.69.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company had revenue of $509.00 million for the quarter, compared to the consensus estimate of $487.53 million. During the same quarter in the prior year, the company posted $0.50 EPS. Palo Alto Networks’s revenue was up 27.0% compared to the same quarter last year. research analysts anticipate that Palo Alto Networks, Inc. will post -0.5 earnings per share for the current year.

In related news, insider Nir Zuk sold 146,000 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $149.86, for a total transaction of $21,879,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Mark Anderson sold 44,429 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $143.10, for a total transaction of $6,357,789.90. Following the sale, the president now directly owns 176,290 shares in the company, valued at approximately $25,227,099. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 284,744 shares of company stock valued at $42,239,296. 4.80% of the stock is owned by company insiders.

PANW has been the topic of a number of research reports. Piper Jaffray Companies set a $146.00 target price on shares of Palo Alto Networks and gave the company a “buy” rating in a research note on Friday, August 25th. BidaskClub lowered shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Maxim Group reaffirmed a “buy” rating and set a $195.00 target price (up previously from $168.00) on shares of Palo Alto Networks in a research note on Thursday, September 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $160.00 target price on shares of Palo Alto Networks in a research note on Friday, September 1st. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $173.00 target price on shares of Palo Alto Networks in a research note on Monday, August 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty have given a buy rating to the company’s stock. Palo Alto Networks has an average rating of “Buy” and an average target price of $160.33.

Palo Alto Networks Company Profile

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.

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)

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

Leave a Reply