OneDigital Investment Advisors LLC Has $4.85 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

OneDigital Investment Advisors LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,189 shares of the network technology company’s stock after buying an additional 521 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Palo Alto Networks were worth $4,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PANW. Kathmere Capital Management LLC increased its stake in Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares in the last quarter. FLC Capital Advisors increased its stake in Palo Alto Networks by 0.7% during the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after purchasing an additional 30 shares in the last quarter. Cromwell Holdings LLC increased its stake in Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after purchasing an additional 30 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after purchasing an additional 30 shares in the last quarter. Finally, Geneva Partners LLC increased its stake in Palo Alto Networks by 0.3% during the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after purchasing an additional 30 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research note on Monday, November 4th. Truist Financial raised their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Piper Sandler raised their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $381.56.

Insider Activity at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now directly owns 31,517 shares in the company, valued at approximately $10,983,359.33. The trade was a 24.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at $54,854,924.82. This trade represents a 27.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,252 shares of company stock worth $89,383,077. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $387.00 on Friday. The firm has a 50-day moving average of $358.84 and a 200-day moving average of $335.42. Palo Alto Networks, Inc. has a 52-week low of $234.15 and a 52-week high of $408.53. The stock has a market cap of $126.01 billion, a PE ratio of 53.38, a PEG ratio of 5.84 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company earned $0.80 EPS. The business’s revenue was up 12.1% on a year-over-year basis. Equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

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.