Evergreen Capital Management 13F: Cuts PANW Stake by $3.1M

Evergreen Capital Management lowered its holdings in Palo Alto Networks, Inc. PANW by 7,896 shares during the period, according to a Form 13F filed with the SEC on October 23, 2026. The adjustment cut the fund's investment by 13.3%, leaving it with 51,383 shares. The remaining stake had an estimated value of $20,414,981 at the time of the filing, when the stock closed at $380.55.

PANW Palo Alto Networks, Inc.

$354.92 ▲ +97.87% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Evergreen Capital Management's Palo Alto Networks, Inc. Position

The fund held 59,279 shares of the cybersecurity provider prior to the filing. Dropping 7,896 shares brought the total position down to 51,383 shares. This reduction mirrors moves made by several other institutional investors during the same reporting cycle.

Other Institutional Activity in Palo Alto Networks, Inc.

Other major holders also adjusted their exposure to the cybersecurity firm during the quarter. RMR Wealth Builders shed 3,280 shares, ending with 20,155 shares worth about $8,007,601. Brookstone Capital Management reduced its position by 35,563 shares, leaving it with 60,237 shares valued around $23,932,699. E. Ohman J:or Asset Management cut its holdings by 57,700 shares down to 98,565 shares worth about $39,160,860. Pinnacle Associates trimmed its stake by 5,349 shares to hold 74,450 shares valued at approximately $29,579,730. Badgley Phelps Wealth Managers pared back by 3,304 shares, closing the period with 184,584 shares worth about $73,337,230.

Palo Alto Networks, Inc. Stock Up 9.6%

Palo Alto Networks, Inc. shares recently traded at $380.70, sitting close to their event-day close and roughly 44.2% above their 200-day moving average. The stock trades below its 52-week high of $432.33 and well above its 52-week low of $139.57.

Recent Earnings

The company reported $11.48 billion in trailing-twelve-month revenue alongside an earnings per share total of $0.40. Its net profit margin stood at 2.7% with a return on equity of 1.7%. The firm is scheduled to release its next financial results on November 19, 2026.

Insider Buying and Selling at Palo Alto Networks, Inc.

Insider transactions included multiple share sales by corporate officers and directors ahead of the filing. Director James Joseph Goetz disposed of 20,000 shares valued at $7,533,686 on September 17, 2026. Director Aparna Bawa sold 260 shares at an average price of $392.68 for a total of $102,098 on September 24, 2026. Chief Financial Officer Dipak Golechha unloaded 27,500 shares worth $107,691,37 on September 24, 2026. Officer Joshua D. Paul sold 400 shares at $395.70 per share for a total value of $158,280 on October 1, 2026. None of these transactions were reported as part of a Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock leading up to the filing. BTIG maintained a buy rating with a target of $425.00 on September 28, 2026. TD Cowen kept a buy rating and raised its target to $440.00 on October 2, 2026. Amerx initiated coverage with a hold rating on October 8, 2026. Wells Fargo maintained an overweight rating and lifted its target to $525.00 on October 13, 2026. Citigroup kept a buy rating and moved its target to $440.00 on October 15, 2026. Overall, the stock carries a consensus buy recommendation from 50 analysts, with a mean price target of $398.52.

About Palo Alto Networks, Inc.

Palo Alto Networks, Inc. builds enterprise cybersecurity tools across the Americas, Europe, the Middle East, Africa, and Asia. Based in Santa Clara, California, the company offers secure access service edge solutions, network security management platforms, and artificial intelligence ecosystem protection tools.

Bottom Line

Investors will look toward the upcoming earnings release on November 19, 2026, for further clues on software demand and profit margins. Future SEC filings will show whether institutional caution around the stock persists through the end of the year.