TD Waterhouse Canada Inc. Buys 12,758 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• TD Waterhouse Canada Inc. raised its Palo Alto Networks stake by 2.6% in Q4, buying 12,758 shares to hold 501,300 shares valued at about $92.33 million (≈0.07% of the company).
• Earnings beat: Palo Alto reported $1.03 EPS vs. $0.94 expected and revenue of $2.59B (up 14.9% YoY), though the stock trades at a high valuation (P/E ~92.7) with a consensus target of $209.95 and an average rating of "Moderate Buy."
• Insider selling: Insiders sold 30,356 shares (~$4.98M) last quarter — including sales by the CAO and an EVP — while institutional investors own about 79.82% and insiders hold 1.40%.

TD Waterhouse Canada Inc. increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 501,300 shares of the network technology company's stock after acquiring an additional 12,758 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.07% of Palo Alto Networks worth $92,334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Klingman & Associates LLC boosted its position in shares of Palo Alto Networks by 2.2% during the third quarter. Klingman & Associates LLC now owns 2,131 shares of the network technology company's stock worth $434,000 after acquiring an additional 46 shares during the last quarter. Mattern Wealth Management LLC boosted its position in shares of Palo Alto Networks by 2.9% during the third quarter. Mattern Wealth Management LLC now owns 1,692 shares of the network technology company's stock worth $345,000 after acquiring an additional 48 shares during the last quarter. PTM Wealth Management LLC boosted its position in shares of Palo Alto Networks by 4.0% during the third quarter. PTM Wealth Management LLC now owns 1,300 shares of the network technology company's stock worth $276,000 after acquiring an additional 50 shares during the last quarter. Arlington Trust Co LLC boosted its position in shares of Palo Alto Networks by 4.8% during the third quarter. Arlington Trust Co LLC now owns 1,088 shares of the network technology company's stock worth $222,000 after acquiring an additional 50 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of Palo Alto Networks by 39.7% during the third quarter. CBIZ Investment Advisory Services LLC now owns 176 shares of the network technology company's stock worth $36,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $167.85 on Monday. The company has a market cap of $136.97 billion, a price-to-earnings ratio of 92.73, a PEG ratio of 6.05 and a beta of 0.77. The firm's fifty day moving average is $160.62 and its 200 day moving average is $183.11. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $223.61.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.09. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. Palo Alto Networks's revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 1,100 shares of the company's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $161.40, for a total transaction of $177,540.00. Following the sale, the chief accounting officer owned 83,136 shares of the company's stock, valued at $13,418,150.40. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $160.42, for a total transaction of $802,100.00. Following the sale, the executive vice president directly owned 150,250 shares in the company, valued at approximately $24,103,105. The trade was a 3.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,356 shares of company stock valued at $4,981,575 over the last quarter. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

PANW has been the subject of a number of research reports. Morgan Stanley restated an "overweight" rating and set a $223.00 target price (down from $245.00) on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Daiwa Securities Group dropped their target price on shares of Palo Alto Networks from $212.00 to $175.00 and set an "outperform" rating for the company in a research report on Tuesday, February 24th. Barclays set a $200.00 target price on shares of Palo Alto Networks and gave the stock an "overweight" rating in a research report on Monday, February 9th. New Street Research dropped their target price on shares of Palo Alto Networks from $240.00 to $220.00 and set a "buy" rating for the company in a research report on Thursday, February 19th. Finally, Citizens Jmp restated a "market outperform" rating and set a $250.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $209.95.

Palo Alto Networks Company Profile

Palo Alto Networks NASDAQ: PANW is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company's product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

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