Fluidigm Corporation (NASDAQ:FLDM) was in 6 hedge funds’ portfolio at the end of March. FLDM investors should pay attention to a decrease in support from the world’s most elite money managers in recent months. There were 7 hedge funds in our database with FLDM positions at the end of the previous quarter.
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Just as key, positive insider trading sentiment is a second way to parse down the stock market universe. Obviously, there are many stimuli for an upper level exec to sell shares of his or her company, but just one, very simple reason why they would buy. Various empirical studies have demonstrated the impressive potential of this tactic if shareholders understand what to do (learn more here).
Keeping this in mind, it’s important to take a peek at the key action surrounding Fluidigm Corporation (NASDAQ:FLDM).
How have hedgies been trading Fluidigm Corporation (NASDAQ:FLDM)?
Heading into Q2, a total of 6 of the hedge funds we track were bullish in this stock, a change of -14% from one quarter earlier. With the smart money’s capital changing hands, there exists a select group of notable hedge fund managers who were boosting their holdings considerably.
Of the funds we track, OrbiMed Advisors, managed by Samuel Isaly, holds the largest position in Fluidigm Corporation (NASDAQ:FLDM). OrbiMed Advisors has a $23.8 million position in the stock, comprising 0.6% of its 13F portfolio. The second largest stake is held by Visium Asset Management, managed by Jacob Gottlieb, which held a $1.2 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other peers with similar optimism include John Overdeck and David Siegel’s Two Sigma Advisors, Richard Driehaus’s Driehaus Capital and Israel Englander’s Millennium Management.
Due to the fact that Fluidigm Corporation (NASDAQ:FLDM) has experienced falling interest from the entirety of the hedge funds we track, it’s easy to see that there lies a certain “tier” of funds that elected to cut their full holdings heading into Q2. At the top of the heap, Scott Burney’s Bluefin Investment Management sold off the biggest stake of the “upper crust” of funds we monitor, valued at about $5.2 million in stock., and SAC Subsidiary of CR Intrinsic Investors was right behind this move, as the fund dumped about $1.8 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest fell by 1 funds heading into Q2.
What have insiders been doing with Fluidigm Corporation (NASDAQ:FLDM)?
Bullish insider trading is most useful when the company in question has seen transactions within the past six months. Over the latest 180-day time frame, Fluidigm Corporation (NASDAQ:FLDM) has seen 2 unique insiders buying, and 6 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Fluidigm Corporation (NASDAQ:FLDM). These stocks are FARO Technologies, Inc. (NASDAQ:FARO), Affymetrix, Inc. (NASDAQ:AFFX), Measurement Specialties, Inc. (NASDAQ:MEAS), Rudolph Technologies Inc (NASDAQ:RTEC), and Landauer, Inc. (NYSE:LDR). This group of stocks are in the scientific & technical instruments industry and their market caps match FLDM’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|FARO Technologies, Inc. (NASDAQ:FARO)||13||1||3|
|Affymetrix, Inc. (NASDAQ:AFFX)||8||0||0|
|Measurement Specialties, Inc. (NASDAQ:MEAS)||6||0||5|
|Rudolph Technologies Inc (NASDAQ:RTEC)||16||0||10|
|Landauer, Inc. (NYSE:LDR)||7||0||0|
With the returns demonstrated by the aforementioned studies, retail investors must always keep an eye on hedge fund and insider trading activity, and Fluidigm Corporation (NASDAQ:FLDM) is no exception.