Why We Expect Big Things From Netflix, Inc. (NFLX), Palo Alto Networks Inc (PANW), More

According to the 13F filings, Criterion Capital had 610,330 shares of Palo Alto Networks Inc (NYSE:PANW) at the end of the second quarter. The aggregate value of this stake was over $74.85 million, which was poised to jump near $100 million, as the stock returned 29.9% during the third quarter. Heading into the third quarter of 2016, 37 of the hedge funds tracked by Insider Monkey held long positions in this stock, a 12% decline from the first quarter of 2016. Among the funds long the stock, Renaissance Technologies held the most valuable stake in Palo Alto Networks Inc (NYSE:PANW), which was worth $139 million at the end of the second quarter. On the second spot was Alyeska Investment Group which amassed $126.4 million worth of shares. Moreover, SRS Investment Management and Tremblant Capital were also bullish on Palo Alto Networks Inc (NYSE:PANW).

Arista Networks Inc (NYSE:ANET) was a new addition to Criterion Capital’s portfolio in the second quarter, as the fund bought over 1.14 million shares of the company, with the position valued at $73.41 million at the end of June. The move proved to be perfectly timed, as the stock returned a massive 32.2% in the September quarter. Lone Pine Capital was the largest shareholder of Arista Networks Inc (NYSE:ANET), with a stake worth $120.5 million reported as of the end of June. McKinley Capital Management, Polar Capital, and Gotham Asset Management also held valuable positions in the company.

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