Cim Investment Management Inc. Has $942,000 Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cim Investment Management Inc. raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 96.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,178 shares of the network technology company’s stock after purchasing an additional 2,543 shares during the quarter. Cim Investment Management Inc.’s holdings in Palo Alto Networks were worth $942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PANW. Sunbelt Securities Inc. increased its stake in Palo Alto Networks by 2.2% in the third quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company’s stock valued at $676,000 after acquiring an additional 42 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in shares of Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Palo Alto Networks by 8.4% in the 4th quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company’s stock worth $165,000 after purchasing an additional 70 shares in the last quarter. Cedar Mountain Advisors LLC increased its position in shares of Palo Alto Networks by 70.3% during the 4th quarter. Cedar Mountain Advisors LLC now owns 172 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Finally, Abound Wealth Management raised its holdings in shares of Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after buying an additional 72 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the sale, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 939,318 shares of company stock valued at $165,384,602 over the last 90 days. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $168.34 on Friday. The firm’s 50 day moving average price is $182.29 and its 200 day moving average price is $184.79. The firm has a market cap of $111.46 billion, a P/E ratio of 94.84, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 1 year low of $135.18 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly 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. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

PANW has been the topic of a number of recent research reports. Hsbc Global Res upgraded shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday. Evercore ISI reduced their target price on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Westpark Capital reissued a “hold” rating and issued a $196.40 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $235.00 price objective on shares of Palo Alto Networks in a research note on Monday, March 31st. Finally, BTIG Research lowered Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $204.52.

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.