OneDigital Investment Advisors LLC Has $3.99 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

OneDigital Investment Advisors LLC lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 19.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,373 shares of the network technology company's stock after selling 5,544 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Palo Alto Networks were worth $3,988,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL increased its stake in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. JDM Financial Group LLC increased its stake in Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock worth $59,000 after acquiring an additional 59 shares during the last quarter. WealthBridge Capital Management LLC increased its stake in Palo Alto Networks by 2.0% during the first quarter. WealthBridge Capital Management LLC now owns 3,067 shares of the network technology company's stock worth $523,000 after acquiring an additional 61 shares during the last quarter. Penobscot Investment Management Company Inc. increased its stake in Palo Alto Networks by 0.3% during the first quarter. Penobscot Investment Management Company Inc. now owns 18,983 shares of the network technology company's stock worth $3,239,000 after acquiring an additional 63 shares during the last quarter. Finally, Adero Partners LLC increased its stake in Palo Alto Networks by 4.3% during the first quarter. Adero Partners LLC now owns 1,556 shares of the network technology company's stock worth $266,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

Palo Alto Networks Trading Up 0.5%

Palo Alto Networks stock traded up $0.96 during mid-day trading on Tuesday, hitting $202.38. 1,507,977 shares of the company's stock were exchanged, compared to its average volume of 5,381,298. The stock has a market cap of $134.95 billion, a P/E ratio of 115.65, a P/E/G ratio of 5.63 and a beta of 0.97. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The stock has a 50 day moving average of $194.20 and a two-hundred day moving average of $185.49.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 600 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $204.00, for a total value of $122,400.00. Following the sale, the chief accounting officer directly owned 41,433 shares in the company, valued at $8,452,332. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the sale, the executive vice president owned 264,246 shares in the company, valued at approximately $51,564,964.44. This trade represents a 31.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 547,948 shares of company stock valued at $103,462,223. Company insiders own 2.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PANW shares. Stephens lowered Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Truist Financial decreased their target price on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price for the company in a report on Thursday, April 10th. KeyCorp reiterated an "overweight" rating and issued a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Guggenheim reiterated a "sell" rating and issued a $130.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $208.00.

About Palo Alto Networks

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.