Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 103.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,917 shares of the network technology company's stock after acquiring 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 filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after buying an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after acquiring an additional 6,725,148 shares in the last quarter. Norges Bank purchased a new position in shares of Palo Alto Networks in the 4th quarter valued at about $970,736,000. Capital Research Global Investors lifted its stake in 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 purchasing an additional 3,841,359 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock valued at $1,048,033,000 after purchasing an additional 2,612,474 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PANW. KeyCorp cut their price objective on shares of Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Jefferies Financial Group reduced their price target on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, March 31st. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a report on Thursday, April 10th. Morgan Stanley cut their price target on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a report on Monday, March 31st. Two investment 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $203.06.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded up $2.94 during trading on Friday, reaching $178.98. 3,534,449 shares of the stock were exchanged, compared to its average volume of 5,818,611. Palo Alto Networks, Inc. has a 12-month low of $142.00 and a 12-month high of $208.39. The firm's 50-day moving average price is $176.86 and its 200 day moving average price is $184.70. The firm has a market cap of $118.50 billion, a price-to-earnings ratio of 100.83, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced 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 firm had revenue of $2.26 billion during the quarter, compared to analysts' expectations 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 research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 99,707 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares of the company's stock, valued at $65,353,042.65. This represents a 21.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, 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 1,039,318 shares of company stock valued at $181,925,602 over the last 90 days. 2.50% of the stock is owned by corporate insiders.

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.