TD Waterhouse Canada Inc. Acquires 7,744 Shares of Palo Alto Networks, Inc. $PANW

TD Waterhouse Canada Inc. boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 471,467 shares of the network technology company’s stock after buying an additional 7,744 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.07% of Palo Alto Networks worth $93,130,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Whipplewood Advisors LLC increased its position in Palo Alto Networks by 6,400.0% during the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after acquiring an additional 128 shares during the period. Briaud Financial Planning Inc bought a new stake in Palo Alto Networks in the 2nd quarter valued at $28,000. MTM Investment Management LLC bought a new stake in Palo Alto Networks in the 2nd quarter valued at $31,000. Dagco Inc. acquired a new stake in Palo Alto Networks in the 1st quarter worth $33,000. Finally, Marshall & Sullivan Inc. WA bought a new position in shares of Palo Alto Networks during the 2nd quarter worth about $41,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $204.19, for a total value of $1,020,950.00. Following the sale, the executive vice president owned 96,135 shares in the company, valued at approximately $19,629,805.65. The trade was a 4.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nikesh Arora sold 846,408 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $204.06, for a total transaction of $172,718,016.48. Following the completion of the sale, the chief executive officer directly owned 275,013 shares in the company, valued at approximately $56,119,152.78. The trade was a 75.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,215,830 shares of company stock valued at $249,160,428 in the last ninety days. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Trading Down 0.9%

PANW stock opened at $201.00 on Wednesday. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61. The business’s 50 day moving average is $209.25 and its 200-day moving average is $197.42. The firm has a market cap of $137.48 billion, a P/E ratio of 125.23, a P/E/G ratio of 4.82 and a beta of 0.95.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 18th. The network technology company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. Palo Alto Networks had a return on equity of 17.66% and a net margin of 12.30%.The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company earned $0.75 EPS. Palo Alto Networks’s revenue was up 15.8% on a year-over-year basis. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 19th. Robert W. Baird boosted their price target on Palo Alto Networks from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. DA Davidson raised their price objective on Palo Alto Networks from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday. New Street Research lifted their price objective on Palo Alto Networks from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Royal Bank Of Canada boosted their price objective on Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Twenty-nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $224.14.

Palo Alto Networks Company 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.