Hancock Whitney Corp Buys 75,987 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Hancock Whitney Corp increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 102.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 150,307 shares of the network technology company's stock after buying an additional 75,987 shares during the quarter. Palo Alto Networks accounts for about 0.9% of Hancock Whitney Corp's portfolio, making the stock its 21st biggest holding. Hancock Whitney Corp's holdings in Palo Alto Networks were worth $27,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empire Financial Management Company LLC boosted its stake in shares of Palo Alto Networks by 103.1% during the 4th quarter. Empire Financial Management Company LLC now owns 8,924 shares of the network technology company's stock worth $1,624,000 after buying an additional 4,530 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Palo Alto Networks by 104.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 32,168 shares of the network technology company's stock valued at $5,853,000 after purchasing an additional 16,436 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Palo Alto Networks by 61.1% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 93,631 shares of the network technology company's stock worth $17,116,000 after purchasing an additional 35,501 shares during the last quarter. Burling Wealth Partners LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $372,000. Finally, RiverPark Advisors LLC boosted its holdings in shares of Palo Alto Networks by 18,105.3% in the 4th quarter. RiverPark Advisors LLC now owns 13,836 shares of the network technology company's stock valued at $2,518,000 after buying an additional 13,760 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the sale, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the transaction, the executive vice president now directly owns 358,197 shares in the company, valued at $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,039,318 shares of company stock worth $181,925,602 in the last three months. Company insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PANW shares. Royal Bank of Canada reissued an "outperform" rating and issued a $225.00 price objective on shares of Palo Alto Networks in a research report on Monday, February 10th. Morgan Stanley lowered their price objective on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a research report on Thursday, April 10th. BTIG Research cut Palo Alto Networks from a "buy" rating to a "neutral" rating in a report on Wednesday, January 8th. Finally, Truist Financial reduced their target price on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $203.06.

Palo Alto Networks Stock Up 0.5 %

PANW traded up $0.87 during trading on Monday, hitting $179.85. The company's stock had a trading volume of 1,708,174 shares, compared to its average volume of 5,807,648. The firm has a market capitalization of $119.08 billion, a P/E ratio of 101.20, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a twelve month low of $142.00 and a twelve month high of $208.39. The stock's fifty day moving average price is $176.86 and its 200-day moving average price is $184.72.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.