Based on 124 hedge funds · latest filing: 2018 Q4 · updated quarterly
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Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added SEND than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
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At the ownership peak (100% of max)
100% of all-time peak
124 hedge funds hold SEND right now — the highest count in 1.2 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
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Fast accumulation — +110% more funds vs a year ago
fund count last 5Q
+65 new funds entered over the past year (+110% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks. The peak was reached in just 4 quarters from the low — a sharp move.
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Slight buying edge — 54% buying
81 buying70 selling
Last quarter: 81 funds bought or added vs 70 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 24 → 33 → 45 → 38. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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Value +29% but shares only +10% — price-driven
Last quarter: the total dollar value of institutional holdings rose +29%, but actual share count only changed +10%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Growing discovery — still being found
24 → 33 → 45 → 38 new funds/Q
New funds entering each quarter: 24 → 33 → 45 → 38. A growing number of institutions are discovering SEND each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.