Hedge Funds Have Long Bet on Cybersecurity and You Should Follow ASAP

A closer look at hedge funds’ 13F filings for the second quarter, show that Palo Alto Networks Inc (NYSE:PANW)’s five largest shareholders in our database reduced their stakes during the quarter. The largest stake was held by Donald Chiboucis’ Columbus Circle Investors, which owned 696,800 shares at the end of June, down by 21% on the quarter. Two other investors that cut their exposure even more are Christopher Lord’s Criterion Capital and John Burbank‘s Passport Capital, which reduced their holdings by 700% and 35% to 306,300 shares and 260,000 shares respectively.

In this way, as Palo Alto strengthens its financial situation and shows an impressive improvement in earnings, it represents a hot stock with a lot of potential. Hedge funds have been bullish on the whole IT security industry for a while now; the number of funds holding shares of the company jumped by 12 during the first quarter of 2015, so you should probably follow suit if you haven’t done so yet.

Disclosure: none