Palo Alto Networks Inc insiders sold $133M in the past 12 months. How much of their stake is that?

Board members representing outside shareholders, reported separately: John Donovan, James Goetz. Details

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

13 of 15 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (11 exactly, 2 with a minor or footnoted difference). For 2 we show sales but not holdings; the ! icon on their rows explains why. Percentages cover 13 of 15 officers and directors. Left out: James Goetz and Josh Paul (holdings couldn't be fully reconciled). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

Officer and director open-market sales: $133M across 588,893 shares. Plan status and stated purpose are separate questions, and a sale can have both.

Sales by month

Directors whose reported holdings sit mostly in an investment fund or a corporate shareholder they represent, not in their own name, with beneficial ownership disclaimed except for their own financial interest. Listed and sourced here; not part of the management totals or the answer line. Shares a fund hands to its own investors are distributions, not sales.

Less than usual: about one-seventh of the 5-year average. 8 insiders sold; the average is 9 a year.

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

All 1,312 Forms 3, 4 and 5 filed for Palo Alto Networks Inc (SEC CIK 1327567) from Jul 19, 2012 to Oct 5, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages.

Probable 3-for-1 stock split on or before Sep 13, 2022 (split date stated in a footnote). Splits aren't reported as transactions; 17 holding lines changed by exactly this ratio, so earlier share counts are restated.

Probable 2-for-1 stock split on or before Dec 13, 2024 (split date stated in a footnote). Splits aren't reported as transactions; 18 holding lines changed by exactly this ratio, so earlier share counts are restated.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology