Hhr Asset Management Llc Decreased Stake in Athenahealth Inc (NASDAQ:ATHN) by $18.37 Million as Shares Rose

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Hhr Asset Management Llc decreased its stake in Athenahealth Inc (NASDAQ:ATHN) by 14.79% based on its latest Q3 2015 regulatory filing with the SEC. Hhr Asset Management Llc sold 138,100 shares as the company’s stock rose 16.59% while stock markets declined. The hedge fund held 795,800 shares of the miscellaneous company at the end of Q3, valued at $106.12 million, down from 933,900 at the end of the previous reported quarter. Hhr Asset Management Llc who had been investing in Athenahealth Inc since many months, could be less bullish the $6.19 billion market cap company. The stock decreased 2.61% or $4.27 on December 11, hitting $159.31. About 474,723 shares traded hands or 2.94% up from the average. athenahealth, Inc (NASDAQ:ATHN) has risen 36.00% since May 11, 2015 and is uptrending. It has outperformed by 40.42% the S&P500.

Hhr Asset Management Llc, which manages about $2.77 billion and $2.36B US Long portfolio, upped its stake in Ptc Inc (NASDAQ:PTC) by 428,708 shares to 1.04 million shares, valued at $32.88M in Q3, according to the filing. It also increased its holding in Tesla Mtrs Inc (NASDAQ:TSLA) by 46,660 shares in the quarter, for total 488,021 shares, and risen its stake in Baidu Inc (NASDAQ:BIDU).

Hhr Asset Management Llc is a New Jersey-based hedge fund with more than $2.77 billion AUM in March, 2014. Taken from Hhr Asset Management latest Adv, the fund reported to have 10 full and part-time employees. Among which 5 performing investment advisory and research functions. The hedge fund had between 11-25 clients.

The institutional sentiment increased to 1.01 in 2015 Q3. Its up 0.10, from 0.91 in 2015Q2. The ratio is positive, as 24 funds sold all ATHN shares owned while 73 reduced positions. 29 funds bought stakes while 69 increased positions. They now own 59.06 million shares or 20.22% more from 49.13 million shares in 2015Q2.

Hhr Asset Management Llc holds 4.5% of its portfolio in ATHN for 795,800 shares. Riverbridge Partners Llc owns 1.12 million shares or 3.07% of their US portfolio. Moreover, Parametrica Management Ltd has 1.88% invested in the company for 2,242 shares. The Virginia-based Sands Capital Management Llc has invested 1.64% in the stock. Stephens Investment Management Group Llc, a Texas-based fund reported 278,270 shares.

Since February 25, 2015, the stock had 0 insider buys, and 16 selling transactions for $7.79 million net activity. Bush Jonathan sold 20,000 shares worth $3.15 million. Kahane Stephen N sold 5,000 shares worth $752,500. Park Ed sold 1,500 shares worth $201,345. Stubelis Karl sold 929 shares worth $124,486. The insider Matus Kristi Ann sold 415 shares worth $54,166.

Get a free copy of the Zacks research report on athenahealth, Inc (ATHN).

Out of 21 analysts covering athenaHealth (NASDAQ:ATHN), 13 rate it “Buy”, 2 “Sell”, while 10 “Hold”. This means 52% are positive. athenaHealth was the topic in 13 analyst reports since July 27, 2015 according to StockzIntelligence Inc.

More notable recent athenahealth, Inc (NASDAQ:ATHN) news were published by: Benzinga.com which released: “Here’s What Barclays Thinks About Athenahealth After Its Investor Day” on December 11, 2015, also Globenewswire.com with their article: “athenahealth, Inc. Reaffirms Fiscal Year 2015 Guidance and Initiates Guidance …” published on December 09, 2015, Fool.com published: “Athenahealth, Inc. Meets High Expectations for Q3” on October 24, 2015. More interesting news about athenahealth, Inc (NASDAQ:ATHN) were released by: Globenewswire.com and their article: “athenahealth, Inc. to Host Eighth Annual Investor Summit” published on November 16, 2015 as well as Zacks.com‘s news article titled: “athenahealth Unveils 2016 Outlook; 2015 Projections Intact” with publication date: December 10, 2015.

athenahealth, Inc. is a provider of cloud services and mobile applications for medical groups and health systems. The company has a market cap of $6.19 billion. The Firm delivers cloud services for revenue cycle management and medical billing, electronic health records , patient engagement, care coordination, population health management, as well as clinical intelligence and decision support. It has 416.38 P/E ratio. Through these services, the Company connects health care information and processes and drives results for more than 62,000 health care providers in medical practices and health systems nationwide.

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