M&T Bank Corp lifted its holdings in shares of Palo Alto Networks Inc (NYSE:PANW) by 0.9% during the fourth quarter, Holdings Channel reports. The fund owned 17,460 shares of the network technology company’s stock after acquiring an additional 154 shares during the period. M&T Bank Corp’s holdings in Palo Alto Networks were worth $3,289,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of Palo Alto Networks by 26.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 262 shares of the network technology company’s stock worth $49,000 after acquiring an additional 55 shares during the last quarter. North Star Investment Management Corp. grew its stake 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 acquiring an additional 100 shares during the last quarter. Shine Investment Advisory Services Inc. grew its stake 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 acquiring an additional 291 shares during the last quarter. We Are One Seven LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth about $92,000. Finally, Ipswich Investment Management Co. Inc. purchased a new stake in Palo Alto Networks in the fourth quarter valued at approximately $97,000. Institutional investors and hedge funds own 80.63% of the company’s stock.

Shares of NYSE:PANW opened at $224.62 on Monday. Palo Alto Networks Inc has a 12-month low of $148.41 and a 12-month high of $239.50. The company has a market capitalization of $21.31 billion, a price-to-earnings ratio of -408.40, a P/E/G ratio of 13.47 and a beta of 0.91. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 2.10.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, November 29th. The network technology company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The business had revenue of $656.00 million during the quarter, compared to the consensus estimate of $632.16 million. Palo Alto Networks had a negative return on equity of 1.72% and a negative net margin of 5.04%. The business’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. On average, sell-side analysts anticipate that Palo Alto Networks Inc will post 0.71 EPS for the current year.

In other news, Director Stanley J. Meresman sold 1,958 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $177.48, for a total transaction of $347,505.84. Following the completion of the transaction, the director now directly owns 1,658 shares of the company’s stock, valued at approximately $294,261.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nir Zuk sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $177.48, for a total value of $5,324,400.00. Following the transaction, the executive vice president now directly 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 ninety days, insiders have sold 157,024 shares of company stock valued at $31,265,111. Corporate insiders own 3.10% of the company’s stock.

A number of brokerages recently commented on PANW. Zacks Investment Research lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Thursday. ValuEngine upgraded Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Wedbush upgraded Palo Alto Networks from a “neutral” rating to an “outperform” rating and upped their target price for the company from $225.00 to $265.00 in a research report on Thursday, January 24th. UBS Group upgraded Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Tuesday, January 22nd. Finally, BMO Capital Markets upgraded Palo Alto Networks from a “market perform” rating to an “outperform” rating and set a $240.00 target price on the stock in a research report on Tuesday, January 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $244.76.

WARNING: This article was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this article can be accessed at https://www.thecerbatgem.com/2019/02/11/mt-bank-corp-has-3-29-million-holdings-in-palo-alto-networks-inc-panw.html.

Palo Alto Networks Company 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.

Featured Article: Understanding Average Daily Trade Volume

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 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.