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sellWeak cluster of 210b5-1 plan

Nikesh Arora sold $144M of PANW

Chief Executive Officer at Palo Alto Networks Inc. 788,396 shares at an average of $182.40, traded Feb 3, 2025, filed Feb 5, 2025.

Warning score
33
Value
$144M
788,396 shares
Holdings after
1,086,404
-50% from before
From 52-week low
+11%
low $164.65, close $182.79
From 52-week high
-10%
high $202.95, as of Feb 3, 2025

Score components

  • Role
    CEO
    +25
  • Trade size
    $143.8M at market
    +25
  • Share of holdings sold
    Sold 50% of holdings
    +10
  • Cluster
    2 insiders selling within 14 days
    +8
  • Exercise and sell
    Shares came from an option exercise in the same filing
    -15
  • 10b5-1 plan
    Pre-scheduled under a 10b5-1 plan
    -20

What happened after comparable sells

Same side and tier, against the S&P 500, at 1, 3 and 6 months. Shown to Pro users; the whole table is on the backtest page.

This signal so far: 1m -3.2%, 3m +0.7%, 6m -7.5%.

Price around the trade, and since

From a quarter before the trade to today. The arrow is the trade, the circle the day the filing reached EDGAR, which is the first day anyone outside could act; the dotted line is the S&P 500 rebased to that day's close.

PANWOct 9, 2026 · close 418.78
Since filing Feb 5, 2025: +124.1%SPY +31.3% · excess +92.8%

Daily candles, adjusted for splits and dividends. Green arrows are insider buys, red are sells, sized by value; the dashed line is the close on the filing day, the dotted line SPY rebased to it.Charts by TradingView Lightweight Charts™

Rows in this filing

Every transaction in Form 4 0000950170-25-014558, as filed. Open on EDGAR

DateTransactionSharesPriceValueHoldings afterFiled
Feb 3, 2025MOption exercise
Common Stock10b5-1
+490,723$33.08$16M1,577,127Feb 5, 2025
Feb 3, 2025SOpen-market sale
Common Stock10b5-1
-43,853$180.77$7.9M1,533,274Feb 5, 2025
Feb 3, 2025SOpen-market sale
Common Stock10b5-1
-106,747$181.70$19M1,426,527Feb 5, 2025
Feb 3, 2025SOpen-market sale
Common Stock10b5-1
-216,118$182.55$39M1,210,409Feb 5, 2025
Feb 3, 2025SOpen-market sale
Common Stock10b5-1
-123,217$183.51$23M1,087,192Feb 5, 2025
Feb 3, 2025SOpen-market sale
Common Stock10b5-1
-788$184.15$145k1,086,404Feb 5, 2025
Feb 4, 2025MOption exercise
Common Stock10b5-1
+297,673$33.08$9.8M1,384,077Feb 5, 2025
Feb 4, 2025SOpen-market sale
Common Stock10b5-1
-67,212$181.63$12M1,316,865Feb 5, 2025
Feb 4, 2025SOpen-market sale
Common Stock10b5-1
-192,710$182.35$35M1,124,155Feb 5, 2025
Feb 4, 2025SOpen-market sale
Common Stock10b5-1
-30,930$183.34$5.7M1,093,225Feb 5, 2025
Feb 4, 2025SOpen-market sale
Common Stock10b5-1
-6,821$184.23$1.3M1,086,404Feb 5, 2025
Feb 3, 2025MOption exercise
Stock Option (right to buy)derivative10b5-1
-490,723$0.00$02,720,873Feb 5, 2025
Feb 4, 2025MOption exercise
Stock Option (right to buy)derivative10b5-1
-297,673$0.00$02,423,200Feb 5, 2025

Related signals

Other insiders at Palo Alto Networks Inc and this insider’s other filings.

ScoreCompanyInsiderValueHoldingsFiled
33Weak
PANWsell 2
Palo Alto Networks Inc
Aparna Bawa
director
$103k
250 shares
-5%
21Weak
PANWsell 410b5-1
Palo Alto Networks Inc
Josh D. Paul
Chief Accounting Officer
$158k
400 shares
-1%
40Moderate
PANWsell 5
Palo Alto Networks Inc
Aparna Bawa
director
$102k
260 shares
-5%
47Moderate
PANWsell 510b5-1
Palo Alto Networks Inc
Dipak Golechha
EVP, Chief Financial Officer
$11M
27,500 shares
-19%
75Notable
PANWsell 5
Palo Alto Networks Inc
James J Goetz
director
$7.5M
20,000 shares
-100%
54Moderate
PANWsell 5
Palo Alto Networks Inc
Aparna Bawa
director
$562k
1,500 shares
-23%
59Moderate
PANWsell 5
Palo Alto Networks Inc
John P. Key
director
$940k
2,500 shares
-20%
25Weak
PANWsell 310b5-1
Palo Alto Networks Inc
Josh D. Paul
Chief Accounting Officer
$336k
900 shares
-1%
9Weak
PANWsell10b5-1
Palo Alto Networks Inc
Josh D. Paul
Chief Accounting Officer
$318k
900 shares
-1%
48Moderate
PANWsell 4
Palo Alto Networks Inc
Helle Thorning-Schmidt
director
$243k
700 shares
-11%

Not investment advice. Scores and forward returns are decision support built from public SEC filings and past prices; they describe what happened after comparable filings, not what will happen after this one. Do your own research and size your risk.

Nikesh Arora sold $144M of PANW | InsiderTell