Platinum Investment Management Ltd Lowers stake in Qlik Technologies Inc (QLIK)

Qlik Technologies Inc (QLIK) : Platinum Investment Management Ltd reduced its stake in Qlik Technologies Inc by 34.44% during the most recent quarter end. The investment management company now holds a total of 2,638,414 shares of Qlik Technologies Inc which is valued at $81.1 Million after selling 1,385,879 shares in Qlik Technologies Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Qlik Technologies Inc makes up approximately 1.89% of Platinum Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Blackrock Advisors reduced its stake in QLIK by selling 433,874 shares or 91.12% in the most recent quarter. The Hedge Fund company now holds 42,301 shares of QLIK which is valued at $1.3 Million.Pioneer Investment Management Inc reduced its stake in QLIK by selling 89,278 shares or 32.11% in the most recent quarter. The Hedge Fund company now holds 188,794 shares of QLIK which is valued at $5.8 Million. Qlik Technologies Inc makes up approx 0.02% of Pioneer Investment Management Inc’s portfolio. Blackrock Japan Ltd sold out all of its stake in QLIK during the most recent quarter. The investment firm sold 1,373 shares of QLIK which is valued $42,179. Thompson Davis sold out all of its stake in QLIK during the most recent quarter. The investment firm sold 421 shares of QLIK which is valued $12,752.

Qlik Technologies Inc opened for trading at $31.56 and hit $31.56 on the upside on Wednesday, eventually ending the session at $31.36, with a gain of 0.13% or 0.04 points. The heightened volatility saw the trading volume jump to 3,68,235 shares. Company has a market cap of $2,947 M.

On the company’s financial health, Qlik Technologies Inc reported $-0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.12. The company had revenue of $138.00 million for the quarter, compared to analysts expectations of $134.38 million. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Many Wall Street Analysts have commented on Qlik Technologies Inc. Company shares were Reiterated by Mizuho on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 37 from a previous price target of $31 .Company shares were Reiterated by BMO Capital Markets on Apr 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 32 from a previous price target of $30 .Company shares were Reiterated by UBS on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .

Qlik Technologies Inc. is a provider of user-driven business intelligence (BI) solutions. The Company is engaged in the development commercialization and implementation of software products and related services. The Company’s core solution for guided analytics is QlikView which allows people create and share insights and analysis in groups and across organizations. The Company’s QlikView Desktop is a Windows application that enables the user to load data from disparate sources. QlikView Expressor provides a graphical studio for designing and managing data integration for QlikView apps. QlikView NPrinting is a report generation distribution and scheduling application for QlikView. Qlik Sense is self-service data visualization and analysis application. Qlik Sense Desktop allows users to connect to any underlying data source load data build user interfaces and conduct interactive analyses of their data.

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