Palo Alto rebounds as CEO buys Anthropic-induced stock slide

Cybersecurity firm Palo Alto Networks PANW.O shares bounce 4.6% to $153.83 in Mon afternoon trading after CEO discloses buying $10 mln worth of stock while it slid on Fri

PANW shares tracking biggest one-day pct gain since 13.4% jump on Apr 9, 2025

According to regulatory filing late Fri, CEO Nikesh Arora purchased 68,085 shares in range of $146.87-$147.48 apiece

Transactions boosted Arora's direct PANW ownership to 343,394 shares. He indirectly owned 32,010 shares through an investment entity and 726,542 shares via an annuity trust, according to the filing

Insider buying is generally viewed by investors as a bullish signal and a show of confidence in a firm's business prospects

PANW shares lost 6% on Fri, while the likes of CrowdStrike CRWD.O also tumbled, after a report that AI startup Anthropic developing a new advanced model called "Claude Mythos" that presents potential security risks

Santa Clara, California-based PANW has ~816 mln shares outstanding

Even with advance on the session, stock down ~17% YTD vs 13% drop in S&P 500 Tech index .SPLRCT and ~7% decline for S&P 500 .SPX

Avg rating of 56 analysts covering the stock is "buy"; median PT $210, per LSEG data