Midwest Trust 13F: Cuts Palo Alto Networks (PANW) Stake by $6.1M

Midwest Trust reduced its investment in Palo Alto Networks, Inc. PANW by 17.3% during the quarter, according to a Form 13F filing with the SEC on October 22, 2026. The institutional investor shed 15,291 shares of the cybersecurity firm, leaving it with a total of 72,933 shares. The remaining stake carried a reported value of $28,977,010 at the close of the period.

PANW Palo Alto Networks, Inc.

$347.25 ▲ +93.59% year to date

1M 3M YTD

Daily close · Oct 21, 2026

What Changed in Midwest Trust's Palo Alto Networks, Inc. Position

Prior to the filing, Midwest Trust held 88,224 shares of the software infrastructure company. The reduction of 15,291 shares amounts to a 17.3% decrease in the fund's holdings for the quarter. Even after the adjustment, the firm maintains a sizable holding worth nearly $29 million in the Santa Clara-based enterprise.

Other Institutional Activity in Palo Alto Networks, Inc.

Other institutional managers made varying adjustments to their positions in the cybersecurity firm during the same filing period. True North Advisors grew its holdings by 1,429 shares, ending with 4,558 shares worth about $1,810,758 following a 45.7% increase. Meanwhile, Moran Wealth Management reduced its position by 6,669 shares, a 9.9% decrease that left it with 60,058 shares valued at about $23,861,644.

Palo Alto Networks, Inc. Stock Up 4.3%

Palo Alto Networks, Inc. shares closed at $354.92 on October 22, 2026. The stock recently traded around $354.93 as of October 23, 2026. The share price sits roughly 4.4% below its 50-day moving average of $371.30 and about 34.9% above its 200-day moving average of $263.12. The stock has traded between a 52-week low of $139.57 and a 52-week high of $432.33.

Recent Earnings

Palo Alto Networks, Inc. generated $11.48 billion in trailing twelve month revenue with an earnings per share figure of $0.40. The company reported a net profit margin of 2.7% and a return on equity of 1.7%. The firm's next quarterly earnings report is scheduled for release on November 19, 2026.

Insider Buying and Selling at Palo Alto Networks, Inc.

Company insiders executed several transactions ahead of the filing date. Director James Joseph Goetz sold 20,000 shares on September 17, 2026, for a total value of $7,533,686. Chief Financial Officer Dipak Golechha disposed of 27,500 shares on September 24, 2026, valued at $10,769,137. Director Aparna Bawa sold 260 shares at $392.68 per share on September 24, 2026, totaling $102,098. Officer Joshua D. Paul sold 400 shares at $395.70 per share on October 1, 2026, for a total of $158,280.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock through September and October 2026. On September 28, 2026, BTIG maintained a buy rating while lifting its price target to $425.00 from $404.00. TD Cowen maintained a buy rating on October 2, 2026, raising its price target to $440.00 from $400.00. Amerx initiated coverage with a hold rating on October 8, 2026. Wells Fargo maintained an overweight rating on October 13, 2026, increasing its price target from $475.00 to $525.00. Citigroup maintained a buy rating on October 15, 2026, moving its price target up to $440.00 from $410.00. Overall, the stock carries a consensus buy rating from 50 analyst opinions, with a mean price target of $398.52.

About Palo Alto Networks, Inc.

Palo Alto Networks, Inc. builds software and cloud infrastructure that helps organizations protect their digital assets, networks, and artificial intelligence systems. The company offers integrated security tools ranging from secure access service edge platforms to centralized network management solutions. Institutional shifts in companies like this often shed light on how large investors manage risk across the technology sector.

Bottom Line

Midwest Trust trimmed its exposure to Palo Alto Networks, Inc. while other institutional managers split their approaches during the period. Investors will look toward the upcoming earnings release on November 19, 2026, for further insight into the company's financial trajectory and software demand.