OneDigital Investment Advisors LLC Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

OneDigital Investment Advisors LLC lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 103.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,917 shares of the network technology company's stock after purchasing an additional 14,728 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Palo Alto Networks were worth $5,262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC boosted its position in Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after buying an additional 6,725,148 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after buying an additional 3,841,359 shares during the last quarter. Jennison Associates LLC grew its position in Palo Alto Networks by 83.0% during the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock worth $1,048,033,000 after acquiring an additional 2,612,474 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Palo Alto Networks by 59.3% in the 4th quarter. Legal & General Group Plc now owns 5,552,888 shares of the network technology company's stock worth $1,010,403,000 after purchasing an additional 2,067,838 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Price Performance

Shares of PANW traded up $7.72 during mid-day trading on Thursday, hitting $176.04. The stock had a trading volume of 4,016,386 shares, compared to its average volume of 5,826,151. The firm has a market cap of $116.56 billion, a P/E ratio of 99.18, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 52 week low of $140.81 and a 52 week high of $208.39. The business has a fifty day moving average price of $177.93 and a 200-day moving average price of $184.64.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now directly owns 321,774 shares of the company's stock, valued at approximately $48,629,704.62. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the sale, the executive vice president now directly owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. This represents a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,039,318 shares of company stock worth $181,925,602 in the last ninety days. 2.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PANW. Loop Capital cut their target price on shares of Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Stephens started coverage on Palo Alto Networks in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $205.00 target price for the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $190.00 price target (down previously from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Finally, UBS Group raised their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus target price of $203.06.

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.