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.

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