Banque Pictet & Cie 13F: Exits Palo Alto Networks (PANW) Stake

What Changed in Banque Pictet & Cie's Palo Alto Networks Position

Banque Pictet & Cie closed out its entire position in Palo Alto Networks, Inc. (NasdaqGS: PANW), according to a Form 13F filed with the SEC on October 16, 2026. The institution sold all 130,587 shares it previously held. Because 13F filings look backward at holdings from the prior quarter, this report reflects the fund's portfolio at that time and might not show its current stance.

Other Institutional Activity in Palo Alto Networks

Other major fund managers made adjustments to their Palo Alto Networks holdings around the same reporting window. Blackrock Inc. grew its holdings by 3,324,492 shares, ending with 75,753,509 shares worth about $25,907,700,078. Vanguard Capital Management LLC grew its holdings by 364,079 shares, ending with 53,129,128 shares worth about $18,170,161,776. State Street Corporation grew its holdings by 1,493,942 shares, ending with 36,979,497 shares worth about $12,646,987,974. Morgan Stanley reduced its holdings by 2,870,028 shares, ending with 29,450,112 shares worth about $10,071,938,304. Invesco Ltd. grew its holdings by 1,720,391 shares, ending with 25,647,946 shares worth about $8,771,597,532.

Palo Alto Networks, Inc. Stock Down 8.7%

Palo Alto Networks shares recently traded around $342.32. The stock sits below its 50-day moving average and 20.8% below its 52-week high, while staying above its 200-day moving average.

Recent Earnings

Palo Alto Networks reported a trailing-twelve-month revenue of $11,480,000,512 with a net profit margin of 2.7%. The company's return on equity stood at 1.7%, and its next earnings update is slated for November 19, 2026.

Dividend

Palo Alto Networks does not pay a dividend to shareholders, registering a dividend payout ratio of 0.0% and a dividend yield of 0.0%.

Insider Buying and Selling at Palo Alto Networks, Inc.

Company insiders completed several transactions ahead of the filing. Director James Joseph Goetz sold 20,000 shares valued at $7,533,686 on September 17, 2026. Chief Financial Officer Dipak Golechha sold 27,500 shares valued at $10,769,137 on September 24, 2026. Director Aparna Bawa sold 260 shares at $392.68 for a total of $102,098 on September 24, 2026. Officer Joshua D. Paul sold 400 shares at $395.70 for a total of $158,280 on October 1, 2026.

Analysts Set New Price Targets

Wall Street firms updated their views on the cybersecurity provider in recent weeks. BTIG maintained a Buy rating on September 28, 2026, moving its price target to $425.00 from $404.00. TD Cowen maintained a Buy rating on October 2, 2026, raising its price target to $440.00 from $400.00. Amerx initiated a Hold rating on October 8, 2026. Wells Fargo maintained an Overweight rating on October 13, 2026, lifting its target to $525.00 from $475.00. Citigroup maintained a Buy rating on October 15, 2026, raising its target to $440.00 from $410.00. Overall, the stock holds a consensus buy recommendation across 50 analysts.

About Palo Alto Networks

Palo Alto Networks, Inc. builds cybersecurity tools for businesses and organizations around the world. Headquartered in Santa Clara, California, the company delivers firewall appliances, cloud-delivered security services, and artificial intelligence-driven network defense systems to protect enterprise tech infrastructure.

Bottom Line

Institutional sales like this one offer a snapshot of past portfolio balancing rather than a real-time signal. Investors will look to the upcoming November earnings report for fresh data on enterprise security demand and revenue growth. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.