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Is Nimble Storage Inc (NMBL) A Good Stock To Buy?

Consequently, some big names were breaking ground themselves. Tremblant Capital, managed by Brett Barakett, initiated the biggest call position in Nimble Storage Inc (NYSE:NMBL). Tremblant Capital had $6.2 million invested in the company at the end of the quarter. Anand Parekh’s Alyeska Investment Group also made a $2.1 million investment in the stock during the quarter. The following funds were also among the new NMBL investors: Dmitry Balyasny’s Balyasny Asset Management, Mike Vranos’ Ellington, and Paul Marshall and Ian Wace’s Marshall Wace LLP.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Nimble Storage Inc (NYSE:NMBL) but similarly valued. These stocks are New York Mortgage Trust, Inc. (NASDAQ:NYMT), The Providence Service Corporation (NASDAQ:PRSC), Calgon Carbon Corporation (NYSE:CCC), and Heron Therapeutics Inc (NASDAQ:HRTX). This group of stocks’ market caps resemble NMBL’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NYMT 3 1860 0
PRSC 10 159116 -5
CCC 12 26019 -3
HRTX 12 379923 2

As you can see these stocks had an average of 9.25 hedge funds with bullish positions and the average amount invested in these stocks was $142 million. That figure was $182 million in NMBL’s case. Calgon Carbon Corporation (NYSE:CCC) is the most popular stock in this table. On the other hand New York Mortgage Trust, Inc. (NASDAQ:NYMT) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Nimble Storage Inc (NYSE:NMBL) 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.

Disclosure: None

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