How Does Smart Money Feel About Qlik Technologies Inc (QLIK)?

As one would reasonably expect, key money managers were leading the bulls’ herd. Jericho Capital Asset Management, managed by Josh Resnick, established a position in Qlik Technologies Inc (NASDAQ:QLIK). Jericho Capital Asset Management had $54.7 million invested in the company at the end of the quarter. Clifford Fox’s Columbus Circle Investors also made a $53.2 million investment in the stock during the quarter. The other funds with brand new QLIK positions are Peter Muller’s PDT Partners, D. E. Shaw’s D E Shaw, and Steve Cohen’s Point72 Asset Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Qlik Technologies Inc (NASDAQ:QLIK) but similarly valued. These stocks are Memorial Resource Development Corp (NASDAQ:MRD), Graham Holdings Co (NYSE:GHC), VWR Corp (NASDAQ:VWR), and SYNNEX Corporation (NYSE:SNX). This group of stocks’ market values are similar to QLIK’s market value.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $389 million. That figure was $872 million in QLIK’s case. Memorial Resource Development Corp (NASDAQ:MRD) is the most popular stock in this table, and the least popular one is SYNNEX Corporation (NYSE:SNX)). Qlik Technologies Inc (NASDAQ:QLIK) is the most popular among all these stocks in this table, which indicates a lot of acquired attention from investors. Since smart money is behind this stock, it may be worth considering it as your choice of investment, too. In any case, further analyses are still advisable.