Kayak Software Corp (KYAK)

If you were to ask many traders, hedge funds are assumed to be bloated, old investment tools of a period lost to current times.

Now, according to many investors, hedge funds are perceived as bloated, old investment vehicles of a forgotten age.

To the average investor, there are tons of gauges investors can use to analyze publicly traded companies. A pair of the best are hedge fund and insider trading activity.

The social network blew through both earnings and revenue expectations.

According to most stock holders, hedge funds are seen as unimportant, outdated investment tools of the past.

Shutterfly, Inc. (NASDAQ:SFLY) was in 31 hedge funds' portfolio at the end of March. SFLY has experienced an increase in support from the world's most elite money managers of late.

According to most shareholders, hedge funds are seen as underperforming, old financial tools of the past.

InterXion Holding NV (NYSE:INXN) was in 24 hedge funds' portfolio at the end of the first quarter of 2013. INXN has experienced a decrease in hedge fund sentiment recently.

Priceline.com Inc (NASDAQ:PCLN) recently posted strong earnings growth on May 9. It also lowered its guidance for the second quarter in the few weeks before it acquires a small competitor.