Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 102.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 440,422 shares of the network technology company's stock after purchasing an additional 222,575 shares during the period. TD Waterhouse Canada Inc. owned 0.07% of Palo Alto Networks worth $80,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Teachers Retirement System of The State of Kentucky boosted its position in Palo Alto Networks by 100.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 48,072 shares of the network technology company's stock worth $8,747,000 after acquiring an additional 24,036 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Palo Alto Networks by 343.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 63,551 shares of the network technology company's stock worth $11,564,000 after purchasing an additional 49,204 shares during the last quarter. Thematics Asset Management grew its position in shares of Palo Alto Networks by 26.6% in the fourth quarter. Thematics Asset Management now owns 115,018 shares of the network technology company's stock valued at $20,929,000 after purchasing an additional 24,170 shares in the last quarter. Transce3nd LLC purchased a new position in Palo Alto Networks during the fourth quarter worth approximately $25,000. Finally, Tradition Wealth Management LLC boosted its stake in Palo Alto Networks by 87.1% during the fourth quarter. Tradition Wealth Management LLC now owns 6,852 shares of the network technology company's stock worth $1,247,000 after buying an additional 3,189 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Guggenheim lowered Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Monday, January 6th. Jefferies Financial Group decreased their target price on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, March 31st. KeyCorp cut their price target on shares of Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. BTIG Research cut Palo Alto Networks from a "buy" rating to a "neutral" rating in a report on Wednesday, January 8th. Finally, Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average price target of $203.06.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was 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 owns 358,197 shares of the company's stock, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,039,318 shares of company stock valued at $181,925,602. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock traded up $7.72 during trading hours on Thursday, reaching $176.04. 4,016,386 shares of the stock were exchanged, compared to its average volume of 5,825,637. Palo Alto Networks, Inc. has a 52-week low of $140.81 and a 52-week high of $208.39. The stock has a market cap of $116.56 billion, a P/E ratio of 99.18, a P/E/G ratio of 5.64 and a beta of 1.07. The firm's 50 day moving average is $177.93 and its 200 day moving average is $184.64.

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