Qlik Technologies Inc (NASDAQ:QLIK) investors should be aware of an increase in hedge fund sentiment recently.
In the financial world, there are tons of indicators shareholders can use to track the equity markets. A couple of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite hedge fund managers can outperform the market by a very impressive margin (see just how much).
Just as beneficial, optimistic insider trading activity is a second way to break down the financial markets. As the old adage goes: there are a variety of incentives for a bullish insider to downsize shares of his or her company, but just one, very clear reason why they would initiate a purchase. Plenty of academic studies have demonstrated the market-beating potential of this method if you understand what to do (learn more here).
With all of this in mind, it’s important to take a glance at the key action surrounding Qlik Technologies Inc (NASDAQ:QLIK).
What have hedge funds been doing with Qlik Technologies Inc (NASDAQ:QLIK)?
At Q1’s end, a total of 22 of the hedge funds we track held long positions in this stock, a change of 16% from the first quarter. With hedgies’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were increasing their holdings significantly.
When looking at the hedgies we track, Lee Ainslie’s Maverick Capital had the most valuable position in Qlik Technologies Inc (NASDAQ:QLIK), worth close to $53.7 million, accounting for 0.7% of its total 13F portfolio. Sitting at the No. 2 spot is Columbus Circle Investors, managed by Donald Chiboucis, which held a $46.2 million position; 0.3% of its 13F portfolio is allocated to the stock. Other hedgies that hold long positions include Ken Griffin’s Citadel Investment Group, Noam Gottesman’s GLG Partners and Mark Broach’s Manatuck Hill Partners.
As aggregate interest increased, specific money managers were leading the bulls’ herd. Columbus Circle Investors, managed by Donald Chiboucis, created the most valuable position in Qlik Technologies Inc (NASDAQ:QLIK). Columbus Circle Investors had 46.2 million invested in the company at the end of the quarter. Noam Gottesman’s GLG Partners also initiated a $21.5 million position during the quarter. The following funds were also among the new QLIK investors: Douglas Dillard Jr. and Raj D. Venkatesan’s Standard Pacific Capital, Wojciech Uzdelewicz’s Espalier Global Management, and Anand Parekh’s Alyeska Investment Group.
How are insiders trading Qlik Technologies Inc (NASDAQ:QLIK)?
Insider purchases made by high-level executives is most useful when the company we’re looking at has seen transactions within the past six months. Over the latest half-year time period, Qlik Technologies Inc (NASDAQ:QLIK) has experienced zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Qlik Technologies Inc (NASDAQ:QLIK). These stocks are Sapient Corporation (NASDAQ:SAPE), Convergys Corporation (NYSE:CVG), Verint Systems Inc. (NASDAQ:VRNT), SS and C Technologies Holdings Inc (NASDAQ:SSNC), and Guidewire Software Inc (NYSE:GWRE). This group of stocks are in the business software & services industry and their market caps resemble QLIK’s market cap.