Activist billionaire Paul Singer’s Elliott Associates has a new target: Qlik Technologies Inc (NASDAQ:QLIK). Today, Paul Singer revealed a brand new 5% activist stake in a 13D filing, as well as claiming economic exposure to 8.8% of Qlik’s shares. Elliott Associates didn’t hold any QLIK shares at the end of December. They probably bought the stock when the shares dipped below $20 in the middle of February. Qlik Technologies is up 4.5% at 9:56 am. The activist hedge fund believes that QLIK “operates in a highly strategic area of the technology industry with an attractive competitive position and a compelling product set, the value of which is not reflected in the Issuer’s current market value”. The fund also believes that “there are strategic and operational opportunities for Qlik Technologies that would meaningfully increase value to shareholders”. Elliott has initiated a dialogue with QLIK’s Management and Board of Directors regarding those opportunities.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Elliott International Capital Advisors Inc||0||3,105,405||0||3,105,405||3,105,405||3.3%|