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Lee Klarich, Executive Vice President and Chief Product & Technology Officer at Palo Alto Networks Inc (NASDAQ:PANW), sold a total of $23,081,150 in company stock on September 3, 2025. The sales involved 120,956 shares of common stock, with prices ranging from $188.604 to $192.223.
On the same day, Klarich also exercised options to acquire 92,010 shares of Palo Alto Networks common stock at a price of $32.25 per share, for a total value of $2,967,322.
Following these transactions, Klarich directly owns 177,954 shares of Palo Alto Networks Inc. common stock. He also indirectly owns 740,000 shares through the Klarich 2005 Trust, for which he and his spouse serve as trustees.
The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 27, 2024.
In other recent news, Palo Alto Networks reported a strong fourth quarter, with total revenue reaching $2.54 billion, a 16% increase from the previous year, surpassing analyst expectations. Product revenue showed impressive growth of 19% year-over-year, contributing to this positive performance. Truist Securities responded by raising its price target for Palo Alto Networks to $220, highlighting the company’s robust results in areas like SASE, XSIAM, and virtual firewalls. Similarly, Rosenblatt increased its price target to $225, maintaining a Buy rating due to the strong quarterly results. Piper Sandler also reiterated an Overweight rating, keeping its $225 price target and emphasizing Palo Alto Networks as a top recommendation among cybersecurity stocks. RBC Capital echoed these sentiments, maintaining an Outperform rating with a $232 price target, noting that both the quarterly results and future guidance exceeded expectations. Additionally, Palo Alto Networks announced the release of Prisma SASE 4.0, which includes new browser-based security features aimed at combating sophisticated web threats. These developments reflect Palo Alto Networks’ continued momentum in the cybersecurity sector.
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