Is Cyberark Software Ltd (CYBR) a Good Stock To Buy?

Since Cyberark Software Ltd (NASDAQ:CYBR) has sustained bearish sentiment from the entirety of the hedge funds we track, it’s easy to see that there were a few fund managers that slashed their full holdings in the third quarter. Interestingly, Paul Singer’s Elliott Management cut the largest position of all the investors monitored by Insider Monkey, worth about $13 million in call options. Dmitry Balyasny’s fund, Balyasny Asset Management, also said goodbye to its call options, worth about $4.9 million.

Let’s also examine hedge fund activity in other stocks similar to Cyberark Software Ltd (NASDAQ:CYBR). These stocks are Diebold Incorporated (NYSE:DBD), Eagle Bancorp, Inc. (NASDAQ:EGBN), Steelcase Inc. (NYSE:SCS), and Gannett Co., Inc. (NYSE:GCI). This group of stocks’ market values are closest to CYBR’s market value.

As you can see these stocks had an average of 18 funds with bullish positions and the average amount invested in these stocks was $114 million. That figure was $175 million in CYBR’s case. Diebold Incorporated (NYSE:DBD) is the most popular stock in this table. On the other hand Eagle Bancorp, Inc. (NASDAQ:EGBN) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Cyberark Software Ltd (NASDAQ:CYBR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.