PANW
Palo Alto Networks, Inc.
Stand aside — insiders are net sellers — net purchase ratio -0.53 over the last 180 days (7 selling vs 1 buying). The CFO purchase is contradicted by the rest of the insider group.
Late Extension
XLK
sector confirmed
no CFO purchase$9,999,977 other insiders (1)
1 insider(s)
net purchase ratio -0.53
buy date unknown
71
conviction / 100
+0.4 since 13 Aug
$0–$0
No trade / watch only · Hard gate breached.
Regime clarity18.2
Sponsorship / positioning13.0
Volatility behaviour19.8
Catalyst alignment (insider)0.0
Cross-asset confirmation20.0
Stand aside — hard gate breached
- Insiders are net sellers — net purchase ratio -0.53 over the last 180 days (7 selling vs 1 buying). The CFO purchase is contradicted by the rest of the insider group.
Last
391.64
Add above
398.87
Cut below
308.54
50DMA
324.16
200DMA
221.55
PANW — daily, 14 months
XLK — sector ETF, daily, 14 months
Pillar detail, thesis support and invalidation
Regime clarity
What strengthens the thesis
- price above 200DMA
- 200DMA rising
- 50DMA rising
- partial HH/HL structure
- efficiency ratio 0.29
- OBV 50d slope +0.186 avg-daily-volumes/bar
- no OBV divergence at highs
- OBV fell through last pullback
- last pullback 12.4% deep
- no wide downside expansion bars (30d)
- ATR contracting vs 20d mean
- single insider — no cluster (1 CEO)
- net purchase ratio -0.53 (1 buying vs 7 selling)
- insiders are NET SELLERS over the window
- NO CFO purchase in the window — the CFO-specific terms score zero
- other insiders bought $9,999,977 (1 CEO) — counted through cluster breadth and net buying only
- no CFO buy to date — recency not scored
- closest sector ETF: XLK
- XLK above rising 200DMA (sector-led)
- XLK vs SPY 6m: +21.3 pts
- stock vs XLK RS (3m/6m avg): +83.2 pts
- A confirmed higher high above 398.87 on expanding OBV.
- Pullbacks that hold the rising 50DMA with flat-to-rising OBV.
- XLK extending its own trend while the stock holds relative strength.
- Loss of the rising 50DMA (324.16) with expanding volatility — reduce.
- Breakdown below the prior structural base (308.54) — exit, no averaging down.
- OBV divergence during a price acceleration — reduce.
- Sector ETF losing its own 200DMA — remove capital regardless of stock behaviour.
- CFO: —
- 0 CFO purchase(s), $0 total; last filed 2026-03-27 18:11:23
- Market cap $319,189,286,912 · 20d avg dollar volume $2,067,776,959
Insiders are NET SELLERS. The CFO purchase is contradicted.
| Open-market purchases | $9,999,977 |
| Open-market sales | $32,407,544 |
| Sales after option exercise | $0 |
| Distinct buyers / sellers | 1 / 7 |
| Net purchase ratio | -0.53 |
| Net purchase ratio, excl. option-exercise sales | -0.53 |
No CFO purchase here — 1 purchase(s) by other insiders worth $9,999,977. These count toward cluster breadth and net buying, not the CFO-specific terms.
| Trade date | Insider | Shares | Price | Value | Price now vs buy |
|---|---|---|---|---|---|
| 27 Mar 2026 | Arora NikeshCEO | 68,085 | $146.88 | $9,999,977 | +166.6% |
7 material events; 2 taken well, 2 badly; last earnings 02 Jun: shrugged off (-1.1%).
| Session | Filing | Event | Gap | Day | vs SPY | Vol | +5d | Read |
|---|---|---|---|---|---|---|---|---|
| 03 Jun 26 | 10-Q | Quarterly report | -4.1% | -5.6% | -4.9% | 1.6x | -6.1% | Punished |
| 02 Jun 26 | 8-K · earnings | Results of operations (earnings) | -4.3% | -1.1% | -1.2% | 2.4x | -12.3% | Shrugged off |
| 13 Apr 26 | 8-K | Material agreement; Material obligation created | -0.1% | +4.4% | +3.4% | 1.0x | +4.3% | Rewarded |
| 23 Mar 26 | 8-K | Other material event | +0.9% | +0.7% | -0.4% | 0.7x | -5.9% | Neutral |
| 11 Mar 26 | 8-K | Other material event | +0.6% | -0.4% | -0.3% | 0.3x | +2.4% | Neutral |
| 18 Feb 26 | 10-Q | Quarterly report | -8.5% | -6.8% | -7.3% | 2.2x | -4.9% | Punished |
| 17 Feb 26 | 8-K · earnings | Results of operations (earnings) | -0.8% | -2.1% | -2.2% | 1.4x | -13.4% | Neutral |