Palo Alto Networks, Inc. (NASDAQ:PANW) Holdings Raised by TD Asset Management Inc

TD Asset Management Inc boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,220 shares of the network technology company’s stock after acquiring an additional 9,260 shares during the quarter. TD Asset Management Inc’s holdings in Palo Alto Networks were worth $56,689,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Palo Alto Networks by 3.6% in the first quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after acquiring an additional 1,002,239 shares in the last quarter. Norges Bank purchased a new position in Palo Alto Networks in the 4th quarter worth about $1,563,020,000. Clearbridge Investments LLC increased its stake in Palo Alto Networks by 1.0% in the 4th quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock worth $924,905,000 after purchasing an additional 30,013 shares in the last quarter. Jennison Associates LLC increased its stake in Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Palo Alto Networks by 8.7% in the 4th quarter. Franklin Resources Inc. now owns 1,710,943 shares of the network technology company’s stock worth $504,523,000 after purchasing an additional 137,514 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at $47,055,533.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now directly owns 159,009 shares in the company, valued at $47,055,533.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 66,666 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the sale, the chief executive officer now owns 639,994 shares in the company, valued at $219,505,142.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 466,238 shares of company stock worth $154,690,169. 3.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PANW shares. Bank of America lifted their price target on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group lifted their price target on Palo Alto Networks from $330.00 to $376.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Truist Financial lifted their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. BMO Capital Markets lifted their price target on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Finally, Barclays lifted their target price on Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $366.08.

Palo Alto Networks Stock Down 2.3 %

Shares of PANW stock opened at $335.82 on Friday. Palo Alto Networks, Inc. has a 12 month low of $224.64 and a 12 month high of $380.84. The firm has a market cap of $108.74 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 5.29 and a beta of 1.13. The stock has a 50 day moving average of $335.82 and a 200-day moving average of $310.48.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 earnings per share. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 3.55 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.