Toronto Dominion Bank Has $31.76 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Toronto Dominion Bank reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 111,779 shares of the network technology company’s stock after selling 7,535 shares during the quarter. Toronto Dominion Bank’s holdings in Palo Alto Networks were worth $31,760,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks in the fourth quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares in the last quarter. Webster Bank N. A. boosted its stake in Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in Palo Alto Networks in the first quarter valued at about $30,000. Finally, Central Bank & Trust Co. boosted its stake in Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PANW. Daiwa America raised Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Macquarie increased their target price on Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Argus increased their target price on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Redburn Atlantic downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their target price for the company from $350.00 to $325.00 in a research report on Thursday, July 18th. Finally, Daiwa Capital Markets started coverage on Palo Alto Networks in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 target price for the company. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.59.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the transaction, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at $373,434,232.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, the director now directly owns 3,767 shares in the company, valued at $1,167,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the sale, the executive vice president now owns 1,295,567 shares in the company, valued at $373,434,232.08. The disclosure for this sale can be found here. Insiders have sold a total of 428,391 shares of company stock valued at $136,147,317 over the last 90 days. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock traded up $6.68 during mid-day trading on Friday, reaching $326.81. The stock had a trading volume of 1,709,012 shares, compared to its average volume of 4,505,484. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The stock’s 50-day simple moving average is $321.57 and its 200-day simple moving average is $312.26. The firm has a market capitalization of $105.82 billion, a PE ratio of 47.50, a price-to-earnings-growth ratio of 4.97 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, research analysts forecast that Palo Alto Networks, Inc. will post 2.94 earnings per share 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.