5 Stocks to Invest In Now According to David Thomas’s Atalan Capital

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

Atalan Capital’s Stake Value: $166.45 million

Percentage of Atalan Capital’s 13F Portfolio: 10.37%

Number of Hedge Fund Holders: 73

Palo Alto Networks, Inc. (NASDAQ:PANW) is a California-based company that provides cybersecurity solutions. On January 24, Citi analyst Fatima Boolani initiated coverage of Palo Alto Networks, Inc. (NASDAQ:PANW) with a ‘Buy’ rating and $585 price target, noting positive expectations over the company’s growth potential and current valuations.

In January, the US government’s Department of Veterans Affairs selected Palo Alto Networks, Inc. (NASDAQ:PANW) to secure its expanded remote workforce in a multi-year agreement. company raked in $1.25 billion in revenue for the third quarter, exceeding analysts’ forecasts by $43.13 million.

Atalan Capital owns roughly 348,000 shares in Palo Alto Networks, Inc. (NASDAQ:PANW), worth $166.45 million as of the end of September. This is an increase of 3% in holding over the last quarter, where Atalan Capital held 340,000 shares in the firm.

Investors were seen loading up on Palo Alto Networks, Inc. (NASDAQ:PANW) stock, with 73 hedge funds holding stakes in the firm at the close of the third quarter, in comparison to 69 hedge funds in the preceding quarter.