Yandex NV (NASDAQ:YNDX) investors should pay attention to an increase in support from the world’s most elite money managers in recent months.
To the average investor, there are plenty of indicators market participants can use to watch Mr. Market. A pair of the most under-the-radar are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best investment managers can outclass their index-focused peers by a very impressive margin (see just how much).
Just as key, optimistic insider trading activity is another way to break down the marketplace. Just as you’d expect, there are lots of motivations for a bullish insider to sell shares of his or her company, but only one, very clear reason why they would behave bullishly. Several empirical studies have demonstrated the valuable potential of this strategy if you understand what to do (learn more here).
Consequently, it’s important to take a glance at the key action regarding Yandex NV (NASDAQ:YNDX).
How are hedge funds trading Yandex NV (NASDAQ:YNDX)?
In preparation for this quarter, a total of 23 of the hedge funds we track were long in this stock, a change of 10% from the previous quarter.
Consequently, key hedge funds have jumped into Yandex NV (NASDAQ:YNDX) headfirst. Coatue Management, managed by Philippe Laffont, assembled the largest position in Yandex NV (NASDAQ:YNDX). Coatue Management had 77 million invested in the company at the end of the quarter. Eric Mindich’s Eton Park Capital also made a $46.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Stephen Mandel’s Lone Pine Capital, Cliff Asness’s AQR Capital Management, and Jeffrey Jon Berney’s TriOaks Capital Management.
Insider trading activity in Yandex NV (NASDAQ:YNDX)
Bullish insider trading is most useful when the company in focus has seen transactions within the past six months. Over the latest six-month time frame, Yandex NV (NASDAQ:YNDX) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Yandex NV (NASDAQ:YNDX). These stocks are LinkedIn Corp (NYSE:LNKD), IAC/InterActiveCorp (NASDAQ:IACI), Groupon Inc (NASDAQ:GRPN), Akamai Technologies, Inc. (NASDAQ:AKAM), and Tripadvisor Inc (NASDAQ:TRIP). This group of stocks are the members of the internet information providers industry and their market caps resemble YNDX’s market cap.