TD Waterhouse Canada Inc. Has $93.13 Million Stock Holdings in Palo Alto Networks, Inc. $PANW

TD Waterhouse Canada Inc. lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 471,467 shares of the network technology company’s stock after purchasing an additional 7,744 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Palo Alto Networks were worth $93,130,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its stake in shares of Palo Alto Networks by 1.7% in the second quarter. Primecap Management Co. CA now owns 1,005,840 shares of the network technology company’s stock worth $205,835,000 after acquiring an additional 17,280 shares during the last quarter. Wealthspire Advisors LLC grew its stake in shares of Palo Alto Networks by 10.3% during the second quarter. Wealthspire Advisors LLC now owns 15,087 shares of the network technology company’s stock valued at $3,087,000 after purchasing an additional 1,407 shares during the last quarter. Bedell Frazier Investment Counselling LLC increased its holdings in shares of Palo Alto Networks by 24.2% in the second quarter. Bedell Frazier Investment Counselling LLC now owns 4,317 shares of the network technology company’s stock valued at $883,000 after purchasing an additional 841 shares in the last quarter. Portside Wealth Group LLC increased its holdings in shares of Palo Alto Networks by 5.3% in the second quarter. Portside Wealth Group LLC now owns 1,939 shares of the network technology company’s stock valued at $397,000 after purchasing an additional 98 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Palo Alto Networks by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 64,016,374 shares of the network technology company’s stock worth $13,100,311,000 after purchasing an additional 1,240,830 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of a number of recent research reports. Rosenblatt Securities increased their price objective on Palo Alto Networks from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 19th. Tigress Financial assumed coverage on Palo Alto Networks in a report on Friday, September 26th. They issued a “buy” rating and a $245.00 price target on the stock. Citigroup reiterated an “outperform” rating on shares of Palo Alto Networks in a research report on Monday, October 27th. Finally, BMO Capital Markets upped their target price on shares of Palo Alto Networks from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday. Twenty-nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.14.

Insider Activity

In related news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $204.19, for a total transaction of $1,020,950.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $191.11, for a total transaction of $23,081,119.14. Following the completion of the sale, the executive vice president owned 177,954 shares in the company, valued at approximately $34,008,788.94. This trade represents a 40.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,215,830 shares of company stock worth $249,160,428 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Trading Down 0.9%

NASDAQ:PANW 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 firm has a market capitalization of $137.48 billion, a price-to-earnings ratio of 125.23, a PEG ratio of 4.82 and a beta of 0.95. The business’s 50-day moving average price is $209.25 and its two-hundred day moving average price is $197.42.

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

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.