Jim Cramer is Recommending These 5 Stocks in June

1. Palo Alto Networks, Inc. (NYSE:PANW)

Number of Hedge Fund Holders: 87 

Palo Alto Networks, Inc. (NYSE:PANW) provides cybersecurity solutions. On June 7, Cramer gave the stock a Buy recommendation during the Executive Decision segment of his show. During the course of his interview with Nikesh Arora, the CEO of the firm, Cramer discussed the health of the cybersecurity market and the costs that firms were willing to pay to build new tech infrastructure from the ground up with security built-in. 

On May 20, Morgan Stanley analyst Hamza Fodderwala maintained an Overweight rating on Palo Alto Networks, Inc. (NYSE:PANW) stock with a price target of $823, noting that “security remains a relative safe haven in an uncertain macro environment”. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based firm Citadel Investment Group is a leading shareholder in Palo Alto Networks, Inc. (NYSE:PANW), with 1.3 million shares worth more than $838 million. 

In its Q1 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Palo Alto Networks, Inc. (NYSE:PANW) was one of them. Here is what the fund said:

“The portfolio also saw solid performance from cybersecurity names Palo Alto Networks, Inc. (NYSE:PANW) which is gaining prominence as the risk of global cyber attacks increases as part of the Russian offensive. On an individual stock basis, leading contributors to absolute returns in the first quarter included positions in Palo Alto Networks.”

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