Palo Alto Networks Inc. (NASDAQ:PANW) shares are trending on Tuesday night.

Shares of the California-based cybersecurity provider rose 2.42% to $173.98 in after-hours trading on Tuesday following Anthropic‘s announcement of Project Glasswing, a cybersecurity initiative listing PANW as a launch partner.

Other launch partners include Amazon Web Services (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL), Cisco Systems (NASDAQ:CSCO), CrowdStrike Holdings (NASDAQ:CRWD), Apple (NASDAQ:AAPL), Broadcom Inc (NASDAQ:AVGO), NVIDIA (NASDAQ:NVDA), JPMorgan Chase & Co. (NYSE:JPM) and the Linux Foundation.

The announcement follows PANW CEO Nikesh Arora‘s warning in a March blog post that AI-powered attacks could go from breach to data theft in just 25 minutes, while most firms take days to detect intrusions.

Mythos Preview Drives the Coalition

According to Anthropic’s announcement, central to the initiative is Claude Mythos Preview, an unreleased Anthropic frontier model that has identified thousands of high-severity vulnerabilities across every major operating system and browser. Anthropic is committing up to $100 million in usage credits for defensive security work across launch partners and over 40 additional organizations, plus $4 million in direct donations to open-source security groups.

Insider Sale Filed The Same Day

On Tuesday, former PANW director Mary Pat McCarthy filed an Securities Exchange Commission filing, disclosing plans to sell 11,776 shares valued at approximately $2 million through Morgan Stanley (NYSE:MS). The shares were acquired via restricted stock vestings between 2018 and 2020.

The filing reported nothing to disclose under securities sold in the prior three months.

McCarthy retired from the PANW board effective Jan. 23.

Trading Metrics, Technical Analysis

With a market capitalization of $137.76 billion, Palo Alto has a 52-week high of $223.61 and a 52-week low of $139.57.

The Relative Strength Index (RSI) of PANW stands at 58.70.

Over the past 12 months, the large-cap company has gained 11.43%.

Price Action: According to Benzinga Pro data, PANW closed the regular session at $169.87, up 4.89%.

Currently the stock is positioned at about 36% of its 52-week range.

Benzinga's Edge Stock Rankings show that PANW is exhibiting a negative price trend across all time frames.

Photo: Poetra.RH / Shutterstock

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.