Cibc World Markets Corp Has $21.41 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cibc World Markets Corp boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 130.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 117,669 shares of the network technology company’s stock after buying an additional 66,611 shares during the period. Cibc World Markets Corp’s holdings in Palo Alto Networks were worth $21,411,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Palo Alto Networks in the 3rd quarter valued at $29,000. True Wealth Design LLC boosted its position in Palo Alto Networks by 2,933.3% in the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after buying an additional 88 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Palo Alto Networks during the third quarter worth about $32,000. Darwin Wealth Management LLC acquired a new stake in shares of Palo Alto Networks during the third quarter worth approximately $39,000. Finally, SJS Investment Consulting Inc. raised its stake in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 69 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the completion of the sale, the executive vice president now directly owns 358,197 shares in the company, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. The trade was a 31.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on PANW. Citigroup increased their price target on Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Scotiabank lifted their price target on Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Guggenheim lowered shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Monday, January 6th. HSBC cut shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and lowered their price objective for the company from $152.00 to $145.50 in a research report on Friday, November 22nd. Finally, KeyCorp upped their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $185.00 on Tuesday. The stock has a 50-day simple moving average of $185.74 and a 200 day simple moving average of $184.97. The stock has a market capitalization of $122.49 billion, a P/E ratio of 104.23, a PEG ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current 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.