At the moment, there are dozens of indicators market participants can use to monitor Mr. Market. A couple of the most under-the-radar are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best money managers can beat the market by a solid amount (see just how much).
Just as necessary, bullish insider trading activity is another way to analyze the marketplace. As the old adage goes: there are many stimuli for an upper level exec to drop shares of his or her company, but just one, very clear reason why they would initiate a purchase. Various academic studies have demonstrated the useful potential of this strategy if shareholders know where to look (learn more here).
What’s more, let’s discuss the newest info surrounding Qlik Technologies Inc (NASDAQ:QLIK).
What have hedge funds been doing with Qlik Technologies Inc (NASDAQ:QLIK)?
Heading into Q3, a total of 23 of the hedge funds we track were bullish in this stock, a change of 5% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of notable hedge fund managers who were increasing their holdings significantly.
Out of the hedge funds we follow, Maverick Capital, managed by Lee Ainslie, holds the biggest position in Qlik Technologies Inc (NASDAQ:QLIK). Maverick Capital has a $92.3 million position in the stock, comprising 1.2% of its 13F portfolio. The second largest stake is held by Columbus Circle Investors, managed by Donald Chiboucis, which held a $50.9 million position; the fund has 0.4% of its 13F portfolio invested in the stock. Other hedgies with similar optimism include Noam Gottesman’s GLG Partners, Mark Broach’s Manatuck Hill Partners and John Murphy’s Alydar Capital.
Now, particular hedge funds have been driving this bullishness. Maverick Capital, managed by Lee Ainslie, established the largest position in Qlik Technologies Inc (NASDAQ:QLIK). Maverick Capital had 92.3 million invested in the company at the end of the quarter. Donald Chiboucis’s Columbus Circle Investors also initiated a $50.9 million position during the quarter. The other funds with brand new QLIK positions are Noam Gottesman’s GLG Partners, Mark Broach’s Manatuck Hill Partners, and John Murphy’s Alydar Capital.
How are insiders trading Qlik Technologies Inc (NASDAQ:QLIK)?
Bullish insider trading is at its handiest when the primary stock in question has experienced transactions within the past 180 days. Over the latest six-month time period, Qlik Technologies Inc (NASDAQ:QLIK) has seen zero unique insiders purchasing, 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 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 belong to the business software & services industry and their market caps match QLIK’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Sapient Corporation (NASDAQ:SAPE) | 21 | 0 | 0 |
| Convergys Corporation (NYSE:CVG) | 12 | 0 | 0 |
| Verint Systems Inc. (NASDAQ:VRNT) | 31 | 0 | 0 |
| SS and C Technologies Holdings Inc (NASDAQ:SSNC) | 7 | 0 | 0 |
| Guidewire Software Inc (NYSE:GWRE) | 12 | 0 | 0 |
Using the returns explained by the previously mentioned analyses, average investors must always track hedge fund and insider trading sentiment, and Qlik Technologies Inc (NASDAQ:QLIK) applies perfectly to this mantra.
