10 Best Cybersecurity Stocks To Buy Now

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8. Tenable Holdings Inc (NASDAQ: TENB)

No. of hedge funds: 30
Total value of hedge fund holdings: $490 million

Tenable Holdings, through its subsidiaries and through the Tenable brand, offers vulnerability management solutions which let people map out their entire business’ infrastructure and its weaknesses – from the least important connected device to the operation’s backbone.

In 2019 Tenable held the largest market share in its area of operation with 27.6%, according to the International Data Corporation – one of the leading global market researchers. This year sees Tenable keep its strong positions on the market, and an increase in hedge funds with investments in the company, recovering from a slight drop in the 3rd quarter of this year.

7. NortonLifeLock (NASDAQ: NLOK)

No. of hedge funds: 34
Total value of hedge fund holdings: $1.05 billion

NortonLifeLock ranks 7th in our list of the 10 best cybersecurity stocks to buy now. Norton, a well-known and recognized giant in the tech world has a portfolio that most of us have interacted with at some point in our lives. Be it home antivirus or enterprise solutions, NortonLifeLock seems to have it all. What it lacks this year, though, is strong hedge fund interest.

Hedge funds tracked by Insider Monkey with investment in NLOK have dropped from 37 during this year’s second quarter to 34 currently. The company is not the most popular stock in its group but hedge fund interest is still above average. Activist hedge fund Starboard had a $500 million position in NLOK at the end of June, but they cut this position by half during the third quarter.

6. Fortinet (NASDAQ: FTNT)

No. of hedge funds: 36
Total value of hedge fund holdings: $1.29 billion

To everyone in the cybersec world, Fortinet is known as an all-time enterprise favorite distributor of both hardware networking solutions and software endpoint and cloud protection. The company has a strong presence on the market with the third largest share, according to Gartner.

This year saw Fortinet measure its all-time high number of investing hedge funds, being found on the portfolios of 44 funds. Since then it has lost some of these positions but the company keeps increasing earnings stronger than predictions and gaining new markets so it’s sure to come back up soon.

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Disclosure: No positions. 10 Best Cybersecurity Stocks To Buy Now is originally published at Insider Monkey.

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