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

OneDigital Investment Advisors LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.8% during the third quarter, according to the company in its most recent filing with the SEC. 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 SEC.

Other large investors also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new position in shares of Palo Alto Networks in the 3rd quarter worth about $1,156,000. Alpha Cubed Investments LLC lifted its position in Palo Alto Networks by 16.4% in the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after purchasing an additional 32,626 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Palo Alto Networks by 3.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock valued at $67,232,000 after purchasing an additional 7,291 shares during the last quarter. Harvest Portfolios Group Inc. bought a new stake in Palo Alto Networks in the 3rd quarter valued at about $24,414,000. Finally, Parsons Capital Management Inc. RI lifted its position in Palo Alto Networks by 4.5% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock valued at $914,000 after purchasing an additional 116 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Performance

PANW stock opened at $387.00 on Friday. The stock has a market cap of $126.01 billion, a P/E ratio of 53.38, a P/E/G ratio of 5.84 and a beta of 1.12. The firm has a 50 day simple moving average of $358.84 and a 200 day simple 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.

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

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 11.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 over the last ninety days. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

PANW has been the topic of several recent research reports. OTR Global reiterated a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Northland Securities lifted their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Susquehanna lifted their price objective on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, September 5th. Finally, Oppenheimer boosted their price target on shares of Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $381.56.

Palo Alto Networks Company 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.