Montecito Bank & Trust reduced its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 57.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,412 shares of the network technology company’s stock after selling 1,875 shares during the quarter. Montecito Bank & Trust’s holdings in Palo Alto Networks were worth $266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake in Palo Alto Networks by 26.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 262 shares of the network technology company’s stock valued at $49,000 after acquiring an additional 55 shares during the last quarter. Optimum Investment Advisors bought a new position in shares of Palo Alto Networks during the fourth quarter worth $75,000. North Star Investment Management Corp. boosted its position in shares of Palo Alto Networks by 28.6% during the fourth quarter. North Star Investment Management Corp. now owns 450 shares of the network technology company’s stock worth $85,000 after purchasing an additional 100 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its position in shares of Palo Alto Networks by 154.8% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 479 shares of the network technology company’s stock worth $90,000 after purchasing an additional 291 shares in the last quarter. Finally, We Are One Seven LLC bought a new position in shares of Palo Alto Networks during the fourth quarter worth $92,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:PANW opened at $223.86 on Tuesday. The company has a market capitalization of $21.31 billion, a PE ratio of -407.02, a PEG ratio of 13.47 and a beta of 0.91. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. Palo Alto Networks Inc has a 12 month low of $153.43 and a 12 month high of $239.50.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Thursday, November 29th. The network technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $656.00 million during the quarter, compared to analysts’ expectations of $632.16 million. Palo Alto Networks had a negative net margin of 5.04% and a negative return on equity of 1.72%. The business’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. As a group, research analysts expect that Palo Alto Networks Inc will post 0.71 EPS for the current year.

In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $216.37, for a total value of $8,654,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The shares were sold at an average price of $177.48, for a total transaction of $5,324,400.00. Following the completion of the transaction, the executive vice president now owns 1,076,683 shares of the company’s stock, valued at $191,089,698.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,024 shares of company stock valued at $31,265,111. 3.10% of the stock is owned by corporate insiders.

PANW has been the topic of a number of recent analyst reports. Wedbush initiated coverage on shares of Palo Alto Networks in a research report on Thursday, October 18th. They set a “neutral” rating and a $225.00 price target on the stock. Credit Suisse Group reduced their price target on shares of Palo Alto Networks from $185.00 to $160.00 in a research report on Sunday, December 9th. Robert W. Baird reissued an “outperform” rating on shares of Palo Alto Networks in a research report on Thursday, October 18th. UBS Group raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Tuesday, January 22nd. Finally, Summit Insights cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $244.76.

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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.

Read More: Cost of Capital Explained

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

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