CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 13F: Adds $2M to PANW Stake

Cushing Asset Management, LP dba NXG Investment Management boosted its position in Palo Alto Networks, Inc. (PANW) by 5,000 shares, raising its total holdings to 80,000 shares.

PANW Palo Alto Networks, Inc.

$390.46 ▲ +117.68% year to date

1M 3M YTD

Daily close · Oct 26, 2026

What Changed in Cushing Asset Management's Position

Cushing Asset Management increased its stake in Palo Alto Networks by 5,000 shares, marking a 6.67% increase from its previous total of 75,000 shares. This adjustment reflects a dollar value increase of approximately $1,986,550, contributing to a total reported value of $31,784,800 for this position.

Where Palo Alto Networks Fits in Cushing's Portfolio

Palo Alto Networks now accounts for 2.24% of Cushing Asset Management's total reported value of about $1.42 billion, ranking 13th among the fund's 73 positions.

Other Institutional Activity in Palo Alto Networks

Several other institutional investors have also adjusted their positions in Palo Alto Networks recently. True North Advisors grew its holdings by 1,429 shares, bringing its total to 4,558 shares worth about $1.81 million. Meanwhile, Midwest Trust reduced its stake by 15,291 shares, leaving it with 72,933 shares valued at approximately $28.98 million. Brookstone Capital Management also trimmed its position by 35,563 shares, now holding 60,237 shares valued at about $23.93 million.

Palo Alto Networks, Inc. Stock Up 2.6%

Palo Alto Networks shares are currently trading around $390.54, which is about equal to its closing price of $390.46 on October 26. The stock is above its 50-day moving average by 5.4% and well above its 52-week low of $139.57, but it remains 9.7% below its 52-week high of $432.33. The target mean price stands at $398.52, indicating some potential upside from current levels.

Recent Earnings

Palo Alto Networks reported trailing twelve-month revenue of approximately $11.48 billion, reflecting a year-over-year growth of 34.5%. The next earnings report is scheduled for November 19, 2026, which will provide further insights into the company's performance.

Insider Buying and Selling at Palo Alto Networks, Inc.

Recently, several insiders sold shares of Palo Alto Networks. Director James Joseph Goetz sold 20,000 shares on September 17, while Chief Financial Officer Dipak Golechha sold 27,500 shares on September 24. These transactions, although significant, do not necessarily indicate negative sentiment regarding the company's future.

Analysts Set New Price Targets

Analysts have been optimistic about Palo Alto Networks. On September 28, 2026, BTIG maintained a Buy rating with a price target of $425. TD Cowen followed suit on October 2 with a Buy rating and a target of $440. Wells Fargo also maintained an Overweight rating with a target of $525, reflecting strong confidence in the company's growth potential.

About Palo Alto Networks

Palo Alto Networks, Inc. specializes in cybersecurity solutions across various regions, including the Americas and Europe. The company provides products like Prisma Access and Strata Cloud Manager to help organizations secure their networks and data. Cushing Asset Management's increased stake suggests a positive outlook on the company's growth in an increasingly digital world.

Bottom Line

Investors will be watching for Palo Alto Networks' next earnings report on November 19, 2026, to gauge its performance and growth trajectory. Cushing's recent boost in shares highlights its ongoing confidence in the company's future amid a competitive technology landscape.