True North Advisors 13F: Adds $568K to PANW Stake

True North Advisors grew its holdings in Palo Alto Networks, Inc. PANW by 45.7%, adding 1,429 shares during the quarter to finish with 4,558 shares. The position carried a reported value of $1,810,758 in a Form 13F filing disclosed on October 22, 2026.

PANW Palo Alto Networks, Inc.

$347.25 ▲ +93.59% year to date

1M 3M YTD

Daily close · Oct 21, 2026

What Changed in True North Advisors's Palo Alto Networks Position

The firm expanded its investment from a prior count of 3,129 shares up to 4,558 shares. That adjustment marked a 45.7% increase in the fund's exposure to the cybersecurity provider for the reported period.

Other Institutional Activity in Palo Alto Networks

Other institutional investors also adjusted their positions around the same filing window. E. Ohman J:or Asset Management reduced its holdings by 57,700 shares, ending with 98,565 shares worth about $39.2 million after a 36.9% cut. Pinnacle Associates trimmed its stake by 5,349 shares, leaving it with 74,450 shares valued at about $29.6 million following a 6.7% reduction. Quilter shed 183,380 shares for a 19.2% decrease, wrapping up the period with 772,229 shares worth about $306.8 million. Meanwhile, PensionDanmark Pensionsforsikringsaktieselskab grew its holdings by 13,079 shares, resulting in 136,929 shares valued at about $54.4 million after a 10.6% increase.

Palo Alto Networks, Inc. Stock Up 4.3%

Palo Alto Networks, Inc. PANW recently traded around $354.93, while the shares closed at $354.92 on the October 22, 2026 filing date. The stock trades below its 50-day moving average of $371.30 and well above its 200-day moving average of $263.12. The share price sits roughly 17.9% below its 52-week high of $432.33 and well above its 52-week low of $139.57. The consensus analyst target price stands at $398.52.

Recent Earnings

The company posted trailing twelve month revenue of $11.48 billion alongside trailing earnings of $0.40 per share. Its net profit margin stood at 2.7% with a return on equity of 1.7%. The next quarterly earnings report is scheduled for November 19, 2026.

Dividend

Palo Alto Networks, Inc. PANW does not pay a dividend, maintaining a dividend yield and dividend payout ratio of 0.0%.

Insider Buying and Selling at Palo Alto Networks, Inc.

Company insiders completed several transactions prior to the filing date. Chief Financial Officer Dipak Golechha sold 27,500 shares on September 24, 2026, for a total value of $10,769,137. Director Aparna Bawa sold 260 shares on September 24, 2026, at an average price of $392.68 for $102,098, and later sold 250 shares on October 9, 2026, at $412.28 for $103,070. Officer Joshua D. Paul sold 400 shares on October 1, 2026, at $395.70 for $158,280.

Analysts Set New Price Targets

Wall Street firms updated their outlooks on the stock ahead of the filing. BTIG maintained a buy rating on September 28, 2026, raising its target from $404.00 to $425.00. TD Cowen maintained a buy rating on October 2, 2026, lifting its target from $400.00 to $440.00. Amerx initiated coverage with a hold rating on October 8, 2026. Wells Fargo maintained an overweight rating on October 13, 2026, raising its target from $475.00 to $525.00. Citigroup maintained a buy rating on October 15, 2026, boosting its target from $410.00 to $440.00. The stock carries a consensus buy rating from 50 analyst opinions.

About Palo Alto Networks

Headquartered in Santa Clara, California, Palo Alto Networks, Inc. PANW develops cybersecurity solutions for enterprise networks, cloud environments, and artificial intelligence ecosystems. Its software platforms protect customer infrastructure across global markets.

Bottom Line

True North Advisors expanded its investment as Palo Alto Networks navigates shifting market conditions and prepares for its upcoming earnings release on November 19, 2026. Investors continue to monitor institutional ownership reports and analyst target adjustments for further direction.