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

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avantax Planning Partners Inc. bought a new position in Palo Alto Networks during the first quarter valued at about $585,000. Silver Oak Securities Incorporated increased its stake in Palo Alto Networks by 90.6% during the first quarter. Silver Oak Securities Incorporated now owns 12,412 shares of the network technology company's stock valued at $2,144,000 after acquiring an additional 5,899 shares during the period. Sitrin Capital Management LLC increased its stake in Palo Alto Networks by 0.9% during the first quarter. Sitrin Capital Management LLC now owns 30,690 shares of the network technology company's stock valued at $5,237,000 after acquiring an additional 261 shares during the period. MBA Advisors LLC increased its stake in Palo Alto Networks by 15.0% during the first quarter. MBA Advisors LLC now owns 2,297 shares of the network technology company's stock valued at $392,000 after acquiring an additional 300 shares during the period. Finally, Conning Inc. increased its stake in Palo Alto Networks by 12.1% during the first quarter. Conning Inc. now owns 3,175 shares of the network technology company's stock valued at $542,000 after acquiring an additional 343 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the transaction, the executive vice president directly owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 600 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $204.00, for a total value of $122,400.00. Following the completion of the transaction, the chief accounting officer directly owned 41,433 shares of the company's stock, valued at approximately $8,452,332. The trade was a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 547,948 shares of company stock worth $103,462,223. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Down 0.4%

NASDAQ PANW traded down $0.82 on Monday, reaching $201.00. The company had a trading volume of 576,379 shares, compared to its average volume of 5,384,662. The stock's 50 day moving average is $193.80 and its 200-day moving average is $185.39. The stock has a market cap of $134.03 billion, a price-to-earnings ratio of 115.10, a PEG ratio of 5.63 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Securities restated a "buy" rating and set a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Morgan Stanley lowered their price objective on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company upped their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Guggenheim reiterated a "sell" rating and issued a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, KeyCorp reiterated an "overweight" rating and issued a $220.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $208.00.

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.