Is it smart to be bullish on Responsys Inc (NASDAQ:MKTG)?
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Just as key, bullish insider trading activity is another way to analyze the world of equities. Just as you’d expect, there are lots of stimuli for an insider to sell shares of his or her company, but just one, very simple reason why they would initiate a purchase. Plenty of academic studies have demonstrated the impressive potential of this strategy if “monkeys” know what to do (learn more here).
Keeping this in mind, let’s analyze the recent info for Responsys Inc (NASDAQ:MKTG).
What have hedge funds been doing with Responsys Inc (NASDAQ:MKTG)?
At Q2’s end, a total of 18 of the hedge funds we track held long positions in this stock, a change of 20% from the previous quarter. With hedge funds’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were increasing their stakes substantially.
Now, certain bigger names have been driving this bullishness. Diker Management, managed by Mark N. Diker, assembled the biggest position in Responsys Inc (NASDAQ:MKTG). Diker Management had 28 million invested in the company at the end of the quarter. Seymour Sy Kaufman and Michael Stark’s Crosslink Capital also made a $10.9 million investment in the stock during the quarter. The following funds were also among the new MKTG investors: Matthew Knauer and Mina Faltas’s Nokota Management, Eric Semler’s TCS Capital Management, and John Wu’s Sureview Capital.
Insider trading activity in Responsys Inc (NASDAQ:MKTG)
Legal insider trading, particularly when it’s bullish, is most useful when the primary stock in question has experienced transactions within the past six months. Over the last half-year time period, Responsys Inc (NASDAQ:MKTG) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to Responsys Inc (NASDAQ:MKTG). These stocks are SeaChange International (NASDAQ:SEAC), Qualys Inc (NASDAQ:QLYS), LogMeIn Inc (NASDAQ:LOGM), NQ Mobile Inc (ADR) (NYSE:NQ), and Incontact Inc (NASDAQ:SAAS). This group of stocks belong to the application software industry and their market caps match MKTG’s market cap.
