Palo Alto Networks, Inc. (PANW) Insider Trading

Last 12 months

Insiders bought $10M and sold $133M on the open market.

80% of the selling was scheduled in advance under 10b5-1 plans. Director James J Goetz sold $7.53M on Sep 17, 6.0% of their stake, outside a plan.

Net open-market

−$123M

1 buy · 35 sales

Under a 10b5-1 plan

80%

of the value sold

Insiders who bought / sold

1 / 8

executives and directors

Last open-market buy

Mar 2026

Mar 27, 2026

Get an email when PANW's executives or directors buy, or make a large sale outside a plan.

Trades · last 2 years

Date	Insider	Trade	Shares	Price	Value	Of their stake	Filing
Oct 9	Aparna Bawa Director	SoldNo plan 2 parts	250	$412.28 average	$103k	4.0%	Form 4
Oct 1	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	400	$395.70	$158k	0.5%	Form 4
Sep 24	Dipak Golechha EVP, Chief Financial Officer	Sold10b5-1 plan 8 parts	27,500	$391.61 average	$10.8M	19%	Form 4
Sep 24	Aparna Bawa Director	SoldNo plan	260	$392.69	$102k	4.0%	Form 4
Sep 17	James J Goetz Director	SoldNo plan 11 parts	20,000	$376.69 average	$7.53M	6.0%	Form 4
Sep 14 – 15	Aparna Bawa Director	SoldNo plan 2 parts	1,500	$374.80 average	$562k	19%	Form 4
Sep 14	John P. Key Director	SoldNo plan	2,500	$376.03	$940k	20%	Form 4
Sep 1	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	900	$373.68	$336k	1.2%	Form 4
Aug 25	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	900	$353.77	$318k	1.2%	Form 4
Jul 7	Helle Thorning-Schmidt Director	SoldNo plan	700	$346.85	$243k	11%	Form 4
Jul 1	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	900	$345.00	$311k	1.1%	Form 4
Jun 29 – Jul 1	Aparna Bawa Director	SoldNo plan 3 parts	922	$328.13 average	$303k	10%	Form 4
Jun 23	Dipak Golechha EVP, Chief Financial Officer	Sold10b5-1 plan 6 parts	5,000	$289.57 average	$1.45M	3.3%	Form 4
Jun 22	Aparna Bawa Director	SoldNo plan	345	$290.17	$100k	3.7%	Form 4
Jun 12	James J Goetz Director	SoldNo plan 5 parts	20,000	$279.90 average	$5.6M	5.6%	Form 4
Jun 10 – 12	Aparna Bawa Director	SoldNo plan 3 parts	1,468	$272.37 average	$400k	14%	Form 4
Jun 12	John P. Key Director	SoldNo plan	7,500	$279.24	$2.09M	38%	Form 4
Jun 1	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	1,100	$285.08	$314k	1.3%	Form 4
May 22	Lee Klarich EVP Chief Product & Tech Ofcr	Sold10b5-1 plan 12 parts	62,904	$258.65 average	$16.3M	6.7%	Form 4
May 20	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	400	$236.95	$95k	0.5%	Form 4
Apr 8	John P. Key Director	SoldNo plan	1,572	$173.32	$272k	7.3%	Form 4
Apr 1	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	1,100	$161.40	$178k	1.3%	Form 4
Apr 1	Dipak Golechha EVP, Chief Financial Officer	Sold10b5-1 plan 3 parts	5,000	$160.41 average	$802k	3.2%	Form 4
Mar 27	Nikesh Arora Chief Executive Officer	Bought 2 parts	68,085	$146.87 average	$10M	6.8%	Form 4
Mar 6	James J Goetz Director	SoldNo plan 2 parts	22,684	$164.41 average	$3.73M	5.8%	Form 4
Mar 2	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	1,700	$147.90	$251k	2.8%	Form 4
Jan 8	Lee Klarich EVP Chief Product & Tech Ofcr	Sold10b5-1 plan 5 parts	120,768	$191.03 average	$23.1M	11%	Form 4
Jan 2	William D Jenkins Jr President	Sold10b5-1 plan	904	$184.81	$167k	0.6%	Form 4
Jan 2	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	800	$184.81	$148k	1.7%	Form 4
Dec 26, 2025	William D Jenkins Jr President	Sold10b5-1 plan 2 parts	6,218	$188.07 average	$1.17M	4.0%	Form 4
Dec 23, 2025	Dipak Golechha EVP, Chief Financial Officer	Sold10b5-1 plan	5,000	$188.18	$941k	3.1%	Form 4
Dec 8, 2025 – Dec 9, 2025	James J Goetz Director	SoldNo plan 5 parts	25,000	$195.20 average	$4.88M	6.2%	Form 4
Dec 3, 2025	Lee Klarich EVP Chief Product & Tech Ofcr	Sold10b5-1 plan 7 parts	120,774	$191.91 average	$23.2M	11%	Form 4
Dec 1, 2025	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	700	$189.39	$133k	1.5%	Form 4
Nov 3, 2025	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	700	$219.97	$154k	1.5%	Form 4
Nov 3, 2025	Lee Klarich EVP Chief Product & Tech Ofcr	Sold10b5-1 plan 6 parts	120,774	$217.94 average	$26.3M	10%	Form 4
Oct 6, 2025	Lee Klarich EVP Chief Product & Tech Ofcr	Sold10b5-1 plan 5 parts	120,774	$211.93 average	$25.6M	13%	Form 4
Oct 1, 2025	Josh D. Paul Chief Accounting Officer	Sold10b5-1 plan	700	$202.16	$142k	2.1%	Form 4
Sep 23, 2025	Nikesh Arora Chief Executive Officer	Sold10b5-1 plan 7 parts	846,408	$204.07 average	$173M	73%	Form 4
Sep 23, 2025	Dipak Golechha EVP, Chief Financial Officer	Sold10b5-1 plan 5 parts	5,000	$204.19 average	$1.02M	4.9%	Form 4

Oct 9No plan
Aparna Bawa
Director · sold 250 at avg $412.28
$103k
4.0% of stake
Oct 110b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 400 at $395.70
$158k
0.5% of stake
Sep 2410b5-1 plan
Dipak Golechha
EVP, Chief Financial Officer · sold 27,500 at avg $391.61
$10.8M
19% of stake
Sep 24No plan
Aparna Bawa
Director · sold 260 at $392.69
$102k
4.0% of stake
Sep 17No plan
James J Goetz
Director · sold 20,000 at avg $376.69
$7.53M
6.0% of stake
Sep 14 – 15No plan
Aparna Bawa
Director · sold 1,500 at avg $374.80
$562k
19% of stake
Sep 14No plan
John P. Key
Director · sold 2,500 at $376.03
$940k
20% of stake
Sep 110b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 900 at $373.68
$336k
1.2% of stake
Aug 2510b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 900 at $353.77
$318k
1.2% of stake
Jul 7No plan
Helle Thorning-Schmidt
Director · sold 700 at $346.85
$243k
11% of stake
Jul 110b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 900 at $345.00
$311k
1.1% of stake
Jun 29 – Jul 1No plan
Aparna Bawa
Director · sold 922 at avg $328.13
$303k
10% of stake
Jun 2310b5-1 plan
Dipak Golechha
EVP, Chief Financial Officer · sold 5,000 at avg $289.57
$1.45M
3.3% of stake
Jun 22No plan
Aparna Bawa
Director · sold 345 at $290.17
$100k
3.7% of stake
Jun 12No plan
James J Goetz
Director · sold 20,000 at avg $279.90
$5.6M
5.6% of stake
Jun 10 – 12No plan
Aparna Bawa
Director · sold 1,468 at avg $272.37
$400k
14% of stake
Jun 12No plan
John P. Key
Director · sold 7,500 at $279.24
$2.09M
38% of stake
Jun 110b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 1,100 at $285.08
$314k
1.3% of stake
May 2210b5-1 plan
Lee Klarich
EVP Chief Product & Tech Ofcr · sold 62,904 at avg $258.65
$16.3M
6.7% of stake
May 2010b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 400 at $236.95
$95k
0.5% of stake
Apr 8No plan
John P. Key
Director · sold 1,572 at $173.32
$272k
7.3% of stake
Apr 110b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 1,100 at $161.40
$178k
1.3% of stake
Apr 110b5-1 plan
Dipak Golechha
EVP, Chief Financial Officer · sold 5,000 at avg $160.41
$802k
3.2% of stake
Mar 27
Nikesh Arora
Chief Executive Officer · bought 68,085 at avg $146.87
$10M
6.8% of stake
Mar 6No plan
James J Goetz
Director · sold 22,684 at avg $164.41
$3.73M
5.8% of stake
Mar 210b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 1,700 at $147.90
$251k
2.8% of stake
Jan 810b5-1 plan
Lee Klarich
EVP Chief Product & Tech Ofcr · sold 120,768 at avg $191.03
$23.1M
11% of stake
Jan 210b5-1 plan
William D Jenkins Jr
President · sold 904 at $184.81
$167k
0.6% of stake
Jan 210b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 800 at $184.81
$148k
1.7% of stake
Dec 26, 202510b5-1 plan
William D Jenkins Jr
President · sold 6,218 at avg $188.07
$1.17M
4.0% of stake
Dec 23, 202510b5-1 plan
Dipak Golechha
EVP, Chief Financial Officer · sold 5,000 at $188.18
$941k
3.1% of stake
Dec 8, 2025 – Dec 9, 2025No plan
James J Goetz
Director · sold 25,000 at avg $195.20
$4.88M
6.2% of stake
Dec 3, 202510b5-1 plan
Lee Klarich
EVP Chief Product & Tech Ofcr · sold 120,774 at avg $191.91
$23.2M
11% of stake
Dec 1, 202510b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 700 at $189.39
$133k
1.5% of stake
Nov 3, 202510b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 700 at $219.97
$154k
1.5% of stake
Nov 3, 202510b5-1 plan
Lee Klarich
EVP Chief Product & Tech Ofcr · sold 120,774 at avg $217.94
$26.3M
10% of stake
Oct 6, 202510b5-1 plan
Lee Klarich
EVP Chief Product & Tech Ofcr · sold 120,774 at avg $211.93
$25.6M
13% of stake
Oct 1, 202510b5-1 plan
Josh D. Paul
Chief Accounting Officer · sold 700 at $202.16
$142k
2.1% of stake
Sep 23, 202510b5-1 plan
Nikesh Arora
Chief Executive Officer · sold 846,408 at avg $204.07
$173M
73% of stake
Sep 23, 202510b5-1 plan
Dipak Golechha
EVP, Chief Financial Officer · sold 5,000 at avg $204.19
$1.02M
4.9% of stake

How to read this. Insiders sell for many reasons: taxes, diversifying, a house. Open-market buys are rarer and say more. A 10b5-1 plan is a trading schedule set up months in advance, so those sales were not timed on news. Large holders (funds and 10% owners) are listed under Everything but not counted as insiders. If you own or watch PANW, we send a push when an executive buys or makes a large sale outside a plan.

Source: SEC Form 4 filings, filed within two business days of each trade and checked for new ones every hour.

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Spot a number that looks wrong? Check it in PANW's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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