Insider trade

Director sold ~$1.6M of PANW shares in the open market

Traded Dec 9, 2025 · Filed Dec 11, 2025

Palo Alto NetworksPANW

~$1.6M
Reported value · 8,230 sh @ $194.70: 67K
Holds after · shares reported: +108.6%
stock since the trade · S&P 500 +13.4%, $195.00 → $406.76 on Oct 5

Why it stands out

A board member of Palo Alto Networks sold $1.6M of Palo Alto Networks shares. Nobody planned it ahead of time.

Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell

View the official recordSEC Form 4 — Statement of Changes in Beneficial Ownership

All the details

Dates, kept separate

Transaction date: Dec 9, 2025
Reporting period: Not applicable
Filed with the SEC: Dec 11, 2025

DirectorIndirect holding$1M+

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$1,602,381

Shares × reported transaction price

Timing vs results

20 days after results of Nov 19, 2025, 70 days before results of Feb 17, 2026

Results dates are the company's own 8-K (Item 2.02). Many companies only let insiders trade in a window after results

Price at the time

Closed at $195.00 on Dec 9, 2025, 28% above its 52-week low and 12% below its high, after an 11% drop over the previous 30 trading days

52-week range $152.44 (Apr 7, 2025) to $221.38 (Oct 28, 2025), 62% of the way up, from 250 adjusted closes. 30 trading days earlier: $220.29 on Oct 27, 2025. Describes the past only, not a forecast

Planned / mechanical clue

None found in footnotes

Only flagged when a footnote says so; never inferred

Securities lawsuit open at the trade date

A securities lawsuit naming the company as a defendant was filed on Apr 25, 2024 in the U.S. District Court, N.D. California. A filing is an allegation, not a finding.

Schwarz v. Palo Alto Networks, Inc., docket 3:24-cv-02492, via CourtListener (court records). Nature of suit 850, company named as first defendant

After it was reported

After	Stock	S&P 500	Difference
7 days	-2.5%	-0.2%	-2.3%
30 days	-1.5%	+2.0%	-3.4%
90 days	-12.3%	-2.3%	-10.0%
180 days	+37.3%	+6.4%	+30.9%

Past results only. Not a forecast.

Source receipt

Record ID: 0001219231-25-000005
Filed / recorded: Dec 11, 2025, 5:37 AM UTC
Added to OQRO: Oct 2, 2026, 12:28 PM UTC
Parser: form4-xml-v1
Data quality: Verified: identifiers matched exactly
Issuer: Palo Alto Networks Inc
Issuer CIK: 1327567
Ticker: PANW
Reporting person: James J Goetz
Relationship: Director
Security: Common Stock
Table: Non-derivative (Table I)
Transaction date: Dec 9, 2025
Transaction code: S
Shares / units: 8,230
Price per share: $194.70
Acquired / disposed: Disposed (D)
Shares owned after: 66,954
Ownership form: Indirect — By The Goetz Children's Trust 4/24/1998
Amendment: No

Footnotes from the filing

The price reported in Column 4 is weighted average price. These shares were sold in multiple transactions at prices ranging from $194.23 to $195.17, inclusive.
Shares held by The Goetz Children's Trust 4/24/1998. The Reporting Person may be deemed to beneficially own the shares held by The Goetz Children's Trust 4/24/1998. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities on this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the reported securities for purposes of Section 16 or for any other purpose.

Around the same time

Officer sold ~$167K of Palo Alto Networks

Scheduled in advance9mo ago

Officer sold ~$148K of Palo Alto Networks

Scheduled in advance9mo ago

CFO sold ~$941K of Palo Alto Networks

Scheduled in advance9mo ago