Insider and congress filings

Palo Alto Networks, Inc. (PANW)

NASDAQ · Technology · 398 insider transactions · 110 congress trades · last filed 12 days agoS&P 500Nasdaq 100

20
Open-market insider filings shown
2d
Median delay on the insider filings, in business days
within the two business day rule
0 buys·20 sells
Purchases and sales in the filings shown
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About Palo Alto Networks, Inc.

from the company's filings and listing, as of Oct 21, 2026
Exchange
NASDAQ
Sector
Technology
Industry
Software - Infrastructure
Chief executive
Nikesh Arora
Employees
21,921
Listed since
Jul 20, 2012
Market value
$278.3B
Price to earnings (12 mo)
739.7
Net income per share, as reported (12 mo)
$0.41
Dividend yield
-

www.paloaltonetworks.com

Earnings

6 reported quarters · next on Nov 18, 2026
QuarterEPSEPS expectedRevenueRevenue expectedResult
Q4 FY2026reported Sep 1, 2026$1.02$0.98$3.4B$3.4BEPS beatRevenue beat
Q3 FY2026reported Jun 2, 2026$0.85$0.79$3.0B$2.9BEPS beatRevenue beat
Q2 FY2026reported Feb 17, 2026$1.03$0.94$2.6B$2.6BEPS beatRevenue in line
Q1 FY2026reported Nov 19, 2025$0.93$0.89$2.5B$2.5BEPS beatRevenue in line
Q4 FY2025reported Aug 18, 2025$0.95$0.89$2.5B$2.5BEPS beatRevenue in line
Q3 FY2025reported May 20, 2025$0.80$0.77$2.3B$2.3BEPS beatRevenue in line

Actual against the consensus estimate at the time. A flag marks a beat or a miss of more than 1.5% either way; inside that band the quarter is in line. A flag reads n/a only when a number is missing. Quarterly EPS is the figure set against the consensus, usually adjusted, so the quarters need not add up to the 12-month net income per share above. An estimate is a forecast made by analysts, not a company target.

Executive pay

as filed for fiscal 2025 · proxy filed Nov 7, 2025
ExecutiveSalaryStock awardsOtherTotal
Nikesh AroraChief Executive Officer$1.0M$94.9M$3.9M$99.7M
William “BJ” JenkinsPresident$750K$25.3M$918K$27.0M
Lee KlarichChief Product and Technology Officer$550K$24.7M$767K$26.0M
Dipak GolechhaChief Financial Officer$600K$24.2M$722K$25.5M

The summary compensation table from the proxy statement for fiscal 2025, with titles as filed then. 1 executive who has since left the company is named in that filing and not shown here. Read the filing

Institutional holders

13F positions as of Jun 30, 2026
HolderValueSharesShares vs prior qtr% of shares out
BlackRock, Inc.$25.8B75,753,509+4.6%10.11%
Vanguard Capital Management LLC$18.1B53,129,128+0.7%7.09%
State Street Corp$12.6B36,979,497+4.2%4.94%
Morgan Stanley$10.0B29,450,112-8.9%3.93%
Invesco Ltd.$8.7B25,647,946+49.8%3.42%
Bank of America Corp$7.7B22,681,876+0.9%3.03%
JPMorgan Chase & Co.$7.2B21,715,578+61.2%2.90%
FMR LLC$6.8B20,054,462+147.4%2.68%
Geode Capital Management, LLC$6.7B19,615,573+1.5%2.62%
Vanguard Portfolio Management LLC$6.6B19,347,649-1.3%2.58%
Norges Bank$3.3B9,750,674New1.30%
Nuveen, LLC$3.1B9,013,366+12.7%1.20%

A 13F reports long US equity positions and is filed within 45 days of the quarter end, so these are positions as they stood on Jun 30, 2026. New: not in this holder's prior 13F as reported; a change of filer ID can also show as new. For a manager's whole book see the fund directory. What a 13F covers and leaves out is explained in our guide to Form 13F.

Tracked fund managers holding PANW

4 managers
ManagerValueSharesShare of book
Atreides Management$299.1M876,9542.1%
Adage Capital Partners$262.0M768,3000.4%
Stanley DruckenmillerDuquesne Family Office$39.8M116,6500.8%
Graham Capital Management$22.9M67,1100.4%

4 of the 97 fund managers we track list PANW shares among the largest positions in their latest 13F, filed for Q2 2026. A manager can hold it further down the book too, so this is a floor, not a count. Share of book is the position against the manager's whole disclosed 13F value.

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Open-market insider trades

20 filings shown · newest filing first
InsiderActionSharesPriceValueTrade dateDelay
(business days)
Aparna BawaDirectorSold · 2 lines250$412.28$103KOct 9, 2026filed Oct 9, 20260d
Josh D. PaulChief Accounting OfficerSold · scheduled400$395.70$158KOct 1, 2026filed Oct 5, 20262d
Aparna BawaDirectorSold260$392.69$102KSep 24, 2026filed Sep 28, 20262d
Dipak GolechhaEVP, Chief Financial OfficerSold · scheduled · 7 lines26,600$391.49$10.4MSep 24, 2026filed Sep 28, 20262d
James J. GoetzDirectorSold · 11 lines20,000$376.68$7.5MSep 17, 2026filed Sep 21, 20262d
Aparna BawaDirectorSold500$377.18$189KSep 15, 2026filed Sep 16, 20261d
Aparna BawaDirectorSold1,000$373.61$374KSep 14, 2026filed Sep 16, 20262d
John P. KeyDirectorSold2,500$376.03$940KSep 14, 2026filed Sep 16, 20262d
Josh D. PaulChief Accounting OfficerSold · scheduled900$373.68$336KSep 1, 2026filed Sep 3, 20262d
Josh D. PaulChief Accounting OfficerSold · scheduled900$353.77$318KAug 25, 2026filed Aug 27, 20262d
Helle Thorning-SchmidtDirectorSold700$346.85$243KJul 7, 2026filed Jul 8, 20261d
Aparna BawaDirectorSold290$348.74$101KJul 1, 2026filed Jul 1, 20260d
Aparna BawaDirectorSold · 2 lines632$318.67$201KJun 29, 2026filed Jul 1, 20262d
Josh D. PaulChief Accounting OfficerSold · scheduled900$345.00$311KJul 1, 2026filed Jul 1, 20260d
Dipak GolechhaEVP, Chief Financial OfficerSold · scheduled · 6 lines5,000$289.56$1.4MJun 23, 2026filed Jun 24, 20261d
Aparna BawaDirectorSold345$290.17$100KJun 22, 2026filed Jun 22, 20260d
James J. GoetzDirectorSold · 5 lines20,000$279.90$5.6MJun 12, 2026filed Jun 16, 20262d
John P. KeyDirectorSold7,500$279.24$2.1MJun 12, 2026filed Jun 12, 20260d
Aparna BawaDirectorSold536$280.00$150KJun 12, 2026filed Jun 12, 20260d
Aparna BawaDirectorSold555$270.00$150KJun 11, 2026filed Jun 12, 20261d

One row is one filing, newest filing first. A filing that reported its trade in several tranches is summed, priced at the weighted average, and marked with its line count. Scheduled: set up in advance under a Rule 10b5-1 trading plan. The delay counts business days from the trade to the filing, the unit of Form 4's two business day deadline: weekends and federal holidays are skipped. How the filing itself works is explained in our guide to Form 4.

Other Form 4 activity (13)
InsiderEventSharesDate
Nikesh AroraChief Executive OfficerOther (see filing)500,000Oct 12, 2026
Lee KlarichEVP Chief Product & Tech OfcrGift60,000Oct 8, 2026
Josh D. PaulChief Accounting OfficerTax withholding1,308Oct 1, 2026
Lee KlarichEVP Chief Product & Tech OfcrGift25,000Sep 30, 2026
Josh D. PaulChief Accounting OfficerStock award7,211Sep 18, 2026
Helle Thorning-SchmidtDirectorTax withholding211Sep 1, 2026
Josh D. PaulChief Accounting OfficerTax withholding1,529Aug 21, 2026
Josh D. PaulChief Accounting OfficerTax withholding3,861Aug 1, 2026
Nikesh AroraChief Executive OfficerDiscretionary transaction865,090Jun 30, 2026
Josh D. PaulChief Accounting OfficerTax withholding1,092Jul 1, 2026
William D. Jenkins Jr.PresidentDiscretionary transaction69,499Jun 4, 2026
Helle Thorning-SchmidtDirectorTax withholding211Jun 1, 2026
Aparna BawaDirectorStock award24Feb 12, 2026

Awards, option exercises, shares withheld to cover tax and gifts all file on the same form as a purchase or a sale. None of them is a decision to trade, so they sit here rather than beside the ones that are.

Congress trades in PANW

20 disclosures of 110 on record · median 25d of the 45 allowed

Since the trade: the stock's move from the trade date to the latest close we hold (figures as of Oct 25, 2026), not the member's result. Not investment advice.

MemberTypeActionAmount disclosedStock since the tradeTrade dateDisclosedDelay
John McGuireSpouseStockSale$1,001 - $15,000+14.7%After the saleS&P 500 +1.7% · +12.9 pts vs S&P 500Jul 31, 2026Aug 10, 202610d
Josh GottheimerJointStockPurchase$1,001 - $15,000+7.5%S&P 500 +1.2% · +6.3 pts vs S&P 500Jul 16, 2026Aug 10, 202625d
Alan ArmstrongSelfStockPurchase$1,001 - $15,000+158.8%S&P 500 +19.8% · +139.0 pts vs S&P 500Mar 27, 2026Jul 21, 2026116d
Dan NewhouseSpouseStockSale$1,001 - $15,000+16.8%After the saleS&P 500 +0.7% · +16.1 pts vs S&P 500Jul 10, 2026Jul 17, 20267d
Ro KhannaStockPurchase$1,001 - $15,000+53.7%S&P 500 +2.9% · +50.8 pts vs S&P 500May 16, 2026Jul 6, 202651d
Ro KhannaStockPurchase$15,001 - $50,000+50.5%S&P 500 +2.3% · +48.2 pts vs S&P 500May 21, 2026Jun 9, 202619d
Josh GottheimerJointStockPurchase$1,001 - $15,000+59.8%S&P 500 +1.6% · +58.2 pts vs S&P 500May 14, 2026Jun 3, 202620d
Ro KhannaStockPurchase$1,001 - $15,000+134.2%S&P 500 +10.8% · +123.4 pts vs S&P 500Apr 13, 2026May 11, 202628d
Gilbert Ray Cisneros, Jr.StockPurchase$1,001 - $15,000+135.5%S&P 500 +9.4% · +126.1 pts vs S&P 500Apr 14, 2026May 8, 202624d
Jared MoskowitzDependent childStockPurchase$1,001 - $15,000+132.0%S&P 500 +15.6% · +116.4 pts vs S&P 500Mar 23, 2026Apr 30, 202638d
Jared MoskowitzStockPurchase$1,001 - $15,000+137.4%S&P 500 +16.9% · +120.5 pts vs S&P 500Mar 31, 2026Apr 30, 202630d
Ro KhannaStockPurchase$15,001 - $50,000+146.6%S&P 500 +20.3% · +126.3 pts vs S&P 500Mar 30, 2026Apr 7, 20268d
Ro KhannaStockPurchase$15,001 - $50,000+132.0%S&P 500 +15.6% · +116.4 pts vs S&P 500Mar 23, 2026Apr 7, 202615d
Gilbert Ray Cisneros, Jr.StockPurchase$1,001 - $15,000+127.9%S&P 500 +14.7% · +113.2 pts vs S&P 500Mar 13, 2026Apr 7, 202625d
Josh GottheimerJointStockSale$1,001 - $15,000+155.5%After the saleS&P 500 +10.7% · +144.8 pts vs S&P 500Feb 27, 2026Mar 16, 202617d
Jonathan L. JacksonJointStockSale$50,001 - $100,000+145.9%After the saleS&P 500 +12.1% · +133.8 pts vs S&P 500Feb 5, 2026Mar 12, 202635d
Ro KhannaStockSale$15,001 - $50,000+129.3%After the saleS&P 500 +12.7% · +116.6 pts vs S&P 500Feb 5, 2026Mar 9, 202632d
Ro KhannaStockSale$1,001 - $15,000+132.8%After the saleS&P 500 +11.2% · +121.5 pts vs S&P 500Feb 17, 2026Mar 9, 202620d
Ro KhannaStockSale$15,001 - $50,000+168.6%After the saleS&P 500 +10.5% · +158.1 pts vs S&P 500Feb 24, 2026Mar 9, 202613d
Ro KhannaStockPurchase$1,001 - $15,000+104.8%S&P 500 +9.8% · +95.0 pts vs S&P 500Jan 6, 2026Feb 6, 202631d

Since the trade is an estimate, set beside the S&P 500 over the same window, with the gap between the two in percentage points. The filing carries a band, not a fill, and a sale keeps the stock's sign, so a positive figure after a sale means the stock kept rising after it. An option row carries the underlying stock's move. A row marked n/a is one we hold no figure for.

A delay above 45 days is the gap between the dates on the report; we mark a filing late only after checking it.

Every Congress trade in PANW, filterable by party, chamber, type and account.

Members of Congress reporting a position

12 members · estimate, as of Oct 20, 2026

12 members report a position of $1,000 or more (estimated). The largest estimated position is in the $250,001 - $500,000 band.

MemberParty, chamberEstimated positionShare of their portfolio
Sheldon WhitehouseDemocrat · Senate$250,001 - $500,0001.3%
John W. HickenlooperDemocrat · Senate$250,001 - $500,0001.2%
Gilbert Ray Cisneros, Jr.Democrat · House$100,001 - $250,0000.5%
Robert BresnahanRepublican · House$50,001 - $100,0000.6%
Julie JohnsonDemocrat · House$50,001 - $100,0000.4%
Jared MoskowitzDemocrat · House$15,001 - $50,0001.1%
Harriet M. HagemanRepublican · House$15,001 - $50,0000.5%
Lucy McBathDemocrat · House$15,001 - $50,0000.2%
Sam LiccardoDemocrat · House$15,001 - $50,0001.8%
William R. KeatingDemocrat · House$15,001 - $50,0001.7%
John McGuireRepublican · House$1,001 - $15,0001.5%
Dan NewhouseRepublican · House$1,001 - $15,0001.1%

A further member reports a position estimated under $1,000; that member is not listed.

Estimate, as of Oct 20, 2026. Each position is modelled from the member's disclosed transactions and annual filings: the midpoint of each disclosed band, moved with the stock's price since the trade. It is a rough estimate of a reported position, not a figure from a filing, which is why it is shown as a band. Share of portfolio sets that estimate against the member's whole estimated public-stock portfolio.

Questions

Are insiders buying or selling PANW?

Across the 20 most recent open-market filings shown here, 0 were purchases and 20 were sales. 6 were scheduled in advance under a Rule 10b5-1 plan.

Which members of Congress have traded PANW?

John McGuire, Josh Gottheimer, Alan Armstrong, Dan Newhouse, Ro Khanna, Gilbert Ray Cisneros, Jr. and others disclosed PANW transactions in the filings shown here.

Which members of Congress hold PANW?

12 members of Congress report a position of $1,000 or more in PANW in the estimate we hold as of Oct 20, 2026. The three largest estimated positions belong to Sheldon Whitehouse, John W. Hickenlooper and Gilbert Ray Cisneros, Jr. The estimate is built from disclosed transactions and annual filings, so it is shown as a band rather than a figure from a filing.

Is PANW in the S&P 500 or the Nasdaq 100?

Palo Alto Networks, Inc. is a current member of the S&P 500 and Nasdaq 100, per the membership list we hold as of Oct 26, 2026. Current members of either index get a page here whatever their filing history.

How quickly are PANW trades disclosed?

Insider filings on this page reached the public a median of 2 business days after the transaction (weekends and federal holidays skipped), against the two business days Form 4 allows. Congressional disclosures took a median of 25 days, against the 45 the STOCK Act allows.

How to read a Form 4

A DECISION THE INSIDER MADE

POpen-market purchase. Bought with their own money at the market price.
SOpen-market sale. Sold on the market. A sale marked scheduled was set up in advance under a Rule 10b5-1 plan, often months before.

COMPENSATION PLUMBING

AStock award. Granted as pay, not bought.
MOption exercise. Converting options already held into shares.
FTax withholding. Shares handed back to the company to pay the tax on a grant.
GGift. Given away, with no money changing hands.

Congress rows disclose a value range rather than an exact amount, and the STOCK Act allows up to 45 days to report. Full sourcing and the limits of this data are on the methodology page. A filing is a record of a transaction, not a signal, and nothing here is investment advice.

Data as of Oct 26, 2026.

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