Activist investors this week took aim at a beaten-down sector of the stock market: cloud software. It started early Thursday, when Ancora Holdings sent a letter to the board of Everbridge, whose software helps companies respond to emergencies. Everbridge’s last CEO resigned abruptly in December, and Ancora is urging the company to find a buyer rather than a new leader.

Later on Thursday, two hedge funds known for activism campaigns disclosed stakes in financial planning software vendor Anaplan and said they were looking to install four people on the company’s board.

While Everbridge and Anaplan face very different internal challenges, they’re part of a group that’s been battered this year as investors have rotated out of growth and risk and into areas like energy and utilities.

Prior to this year’s market swoon, activists largely avoided cloud companies. The stocks, for the most part, dramatically outperformed the market for several years, leaving little opportunity to unlock value. And most companies in the space don’t possess the level of operating profit that activists prefer.