Perigon buys $6.84M stake in Palo Alto Networks as stock nears record high
What's the deal? Perigon Wealth Management LLCDealroom has a profile for this one. Try Dealroom → opened a new position in Palo Alto Networks during the second quarter, buying 20,065 shares worth roughly $6,843,000, according to its latest Form 13F filing with the Securities and Exchange Commission.
Why now? The move comes as PANW trades near record levels. The stock opened at $375.76 on Tuesday, down 2.2%, against a 12-month range of $139.57 to $398.88.
What's the endgame? Palo Alto Networks, a cybersecurity and network technology company, carries a market cap of $306.24 billion and a PE ratio of 308.00. Its 50-day moving average of $330.20 sits well above the 200-day figure of $237.05, signalling sustained institutional appetite for cybersecurity exposure.
What the numbers say: In its most recent quarter, reported June 2, Palo Alto Networks posted earnings of $0.85 per share, beating the $0.79 consensus. Revenue reached $3 billion, up 31.1% year-over-year and ahead of the $2.94 billion analysts expected.
The company guided FY 2026 EPS to $3.77–$3.79 and Q4 2026 EPS to $0.96–$0.98. It reported a return on equity of 10.53% and a net margin of 7.95%.
Perigon is one of several institutions adjusting exposure. Trilogy CapitalDealroom has a profile for this one. Try Dealroom → lifted its stake 1.8% to 2,127 shares, while GSG AdvisorsDealroom has a profile for this one. Try Dealroom → and Outfitters FinancialDealroom has a profile for this one. Try Dealroom → also added modestly. Institutions now hold 79.82% of the stock.
The signal: Steady institutional buying alongside a stretched valuation reflects continued appetite for cybersecurity exposure, even as insiders — including Director Aparna Bawa and EVP Dipak Golechha — trimmed holdings in recent months.
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