CIBC World Markets Inc. Acquires 579 Shares of Palo Alto Networks, Inc. (NYSE:PANW)

CIBC World Markets Inc. increased its holdings in Palo Alto Networks, Inc. (NYSE:PANW) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 15,463 shares of the network technology company’s stock after buying an additional 579 shares during the quarter. CIBC World Markets Inc.’s holdings in Palo Alto Networks were worth $5,495,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Westhampton Capital LLC increased its holdings in Palo Alto Networks by 1.1% in the 4th quarter. Westhampton Capital LLC now owns 2,700 shares of the network technology company’s stock worth $960,000 after buying an additional 30 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Palo Alto Networks by 2.4% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,315 shares of the network technology company’s stock valued at $467,000 after purchasing an additional 31 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Palo Alto Networks by 0.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 3,667 shares of the network technology company’s stock valued at $1,303,000 after purchasing an additional 33 shares during the period. Nissay Asset Management Corp Japan ADV grew its stake in shares of Palo Alto Networks by 0.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 9,996 shares of the network technology company’s stock valued at $3,552,000 after purchasing an additional 36 shares during the period. Finally, Dorsey & Whitney Trust CO LLC grew its stake in shares of Palo Alto Networks by 3.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,059 shares of the network technology company’s stock valued at $376,000 after purchasing an additional 39 shares during the period. Institutional investors own 80.76% of the company’s stock.

In other Palo Alto Networks news, CAO Jean Compeau sold 900 shares of the company’s stock in a transaction on Tuesday, January 5th. The stock was sold at an average price of $347.37, for a total value of $312,633.00. Following the transaction, the chief accounting officer now owns 23,266 shares of the company’s stock, valued at approximately $8,081,910.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction on Tuesday, December 1st. The stock was sold at an average price of $293.88, for a total value of $11,755,200.00. Following the transaction, the director now directly owns 87,354 shares in the company, valued at approximately $25,671,593.52. The disclosure for this sale can be found here. Insiders sold a total of 209,195 shares of company stock worth $68,692,035 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

NYSE:PANW opened at $384.35 on Tuesday. The stock’s fifty day moving average is $372.13 and its 200 day moving average is $296.77. Palo Alto Networks, Inc. has a fifty-two week low of $125.47 and a fifty-two week high of $403.00. The firm has a market capitalization of $36.72 billion, a PE ratio of -123.98 and a beta of 1.50. The company has a debt-to-equity ratio of 4.18, a quick ratio of 1.63 and a current ratio of 1.63.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Sunday, February 21st. The network technology company reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.12. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $985.90 million. Palo Alto Networks had a negative return on equity of 8.66% and a negative net margin of 8.36%. Palo Alto Networks’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 EPS. Equities analysts forecast that Palo Alto Networks, Inc. will post -1.69 EPS for the current year.

A number of equities research analysts have issued reports on PANW shares. Credit Suisse Group upgraded Palo Alto Networks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $385.00 to $425.00 in a research note on Tuesday, February 2nd. Morgan Stanley boosted their price target on Palo Alto Networks from $423.00 to $515.00 and gave the company an “overweight” rating in a research note on Friday. Truist boosted their price target on Palo Alto Networks from $365.00 to $385.00 in a research note on Wednesday, January 27th. KeyCorp boosted their price objective on Palo Alto Networks from $391.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, January 20th. Finally, Mizuho boosted their price objective on Palo Alto Networks from $360.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, February 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $357.79.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software deployed on an end-customer's network as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

Further Reading: Special Purpose Acquisition Company (SPAC)

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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