Published on 1 Jul 2021 on Insider Monkey via Yahoo Finance

Where Do Hedge Funds Stand On Cornerstone OnDemand, Inc. (CSOD)?

Many prominent investors, including Warren Buffett, David Tepper and Stan Druckenmiller, have been cautious regarding the current bull market and missed out as the stock market reached another high in recent weeks. On the other hand, technology hedge funds weren't timid and registered double digit market beating gains. Financials, energy and industrial stocks initially suffered the most but many of these stocks delivered strong returns since November and hedge funds actually increased their positions in these stocks. In this article we will find out how hedge fund sentiment towards Cornerstone OnDemand, Inc. (NASDAQ:CSOD) changed recently.

Is Cornerstone OnDemand, Inc. (NASDAQ:CSOD) ready to rally soon? Money managers were becoming less confident. The number of bullish hedge fund bets were cut by 6 recently. Cornerstone OnDemand, Inc. (NASDAQ:CSOD) was in 28 hedge funds' portfolios at the end of March. The all time high for this statistic is 34. Our calculations also showed that CSOD isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings).

In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey's monthly stock picks returned 206.8% since March 2017 and outperformed the S&P 500 ETFs by more than 115 percentage points (see the details here). That's why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.