5 Stocks to Buy According to John Hurley’s Cavalry Asset Management

2. Palo Alto Networks, Inc. (NASDAQ:PANW)

Cavalry Asset Management’s Stake Value: $100,551,000

Percentage of Cavalry Asset Management’s 13F Portfolio: 7.67%

Number of Hedge Fund Holders: 87

Palo Alto Networks, Inc. (NASDAQ:PANW) provides businesses, service providers, and governmental organizations with network security solutions. Palo Alto Networks, Inc. (NASDAQ:PANW) shares have offered investors 24.68% returns over the past year as of August 1, despite the bear market in 2022.

On August 1, Wolfe Research analyst Joshua Tilton initiated coverage of Palo Alto Networks, Inc. (NASDAQ:PANW), rating the stock at ‘Outperform’ and with a price objective of $700. According to the analyst, Palo Alto Networks, Inc. (NASDAQ:PANW) is a “consensus long” because investors want to invest in firms that can offer both growth and free cash flow margins at alluring prices.

In the first quarter of 2022, 87 hedge funds were bullish on Palo Alto Networks, Inc. (NASDAQ:PANW), up from 73 funds in the preceding quarter. Joe Dimenna’s ZWEIG DIMENNA PARTNERS is a significant stakeholder of Palo Alto Networks, Inc. (NASDAQ:PANW), with 25,680 shares worth over $12.68 million.

Palo Alto Networks, Inc. (NASDAQ:PANW) is one of the newest acquisitions of Cavalry Asset Management, being added to the fund’s portfolio in Q1. The hedge fund held nearly $101 million in PANW shares, representing 7.67% of its 13F portfolio’s exposure.