Accelrys, Inc. (NASDAQ:ACCL) was in 6 hedge funds’ portfolio at the end of December. ACCL investors should be aware of a decrease in hedge fund interest of late. There were 7 hedge funds in our database with ACCL positions at the end of the previous quarter.
According to most stock holders, hedge funds are viewed as unimportant, outdated investment tools of years past. While there are over 8000 funds in operation today, we at Insider Monkey look at the bigwigs of this group, about 450 funds. Most estimates calculate that this group controls the majority of all hedge funds’ total asset base, and by paying attention to their best equity investments, we have spotted a few investment strategies that have historically outstripped the S&P 500 index. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points a year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outpaced the S&P 500 index by 24 percentage points in 7 months (see the details here).
Just as beneficial, positive insider trading sentiment is another way to break down the stock market universe. As the old adage goes: there are a variety of reasons for a bullish insider to sell shares of his or her company, but only one, very obvious reason why they would buy. Several academic studies have demonstrated the market-beating potential of this strategy if you know where to look (learn more here).
With these “truths” under our belt, we’re going to take a look at the key action encompassing Accelrys, Inc. (NASDAQ:ACCL).
How have hedgies been trading Accelrys, Inc. (NASDAQ:ACCL)?
In preparation for this year, a total of 6 of the hedge funds we track held long positions in this stock, a change of -14% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were upping their stakes substantially.
When looking at the hedgies we track, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Accelrys, Inc. (NASDAQ:ACCL). Renaissance Technologies has a $9.8 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital, with a $0.8 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Remaining hedgies that are bullish include Ken Griffin’s Citadel Investment Group, Israel Englander’s Millennium Management and John Overdeck and David Siegel’s Two Sigma Advisors.
Since Accelrys, Inc. (NASDAQ:ACCL) has witnessed falling interest from the smart money, it’s safe to say that there was a specific group of fund managers that slashed their positions entirely last quarter. Interestingly, D. E. Shaw’s D E Shaw sold off the biggest stake of all the hedgies we key on, comprising an estimated $0.1 million in stock.. J. Carlo Cannell’s fund, Cannell Capital, also dumped its stock, about $0.1 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest dropped by 1 funds last quarter.
What have insiders been doing with Accelrys, Inc. (NASDAQ:ACCL)?
Insider purchases made by high-level executives is best served when the company in focus has experienced transactions within the past six months. Over the latest 180-day time period, Accelrys, Inc. (NASDAQ:ACCL) has experienced zero unique insiders buying, and 5 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Accelrys, Inc. (NASDAQ:ACCL). These stocks are E2open Inc (NASDAQ:EOPN), AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP), Proofpoint Inc (NASDAQ:PFPT), Bazaarvoice Inc (NASDAQ:BV), and SciQuest, Inc. (NASDAQ:SQI). All of these stocks are in the application software industry and their market caps match ACCL’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| E2open Inc (NASDAQ:EOPN) | 3 | 0 | 7 |
| AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP) | 7 | 0 | 0 |
| Proofpoint Inc (NASDAQ:PFPT) | 6 | 0 | 6 |
| Bazaarvoice Inc (NASDAQ:BV) | 4 | 0 | 5 |
| SciQuest, Inc. (NASDAQ:SQI) | 7 | 0 | 2 |
With the results exhibited by the aforementioned research, everyday investors should always watch hedge fund and insider trading sentiment, and Accelrys, Inc. (NASDAQ:ACCL) shareholders fit into this picture quite nicely.
