The cluster shows modest accumulation by three asset managers, but the small fund count and lack of insider buying limit conviction. Monitor next 13F filing for continuation or reversal of this buying pattern.
Executive Summary
Three asset managers added to their NOVT positions in Q3 2026, led by Wasatch Advisors increasing by $26.3M. No institutional selling was reported. The cluster is small in fund count and dollar scale relative to the $5.7B market cap, and the 13F data is stale by 45+ days. Insider activity is divergent with no open-market buying, weakening the signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: $26.6M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Wasatch Advisors | ADD | +38.4% | $149.6M | $26.3M |
| Truist Financial | ADD | +27.3% | $2.5M | $261.0K |
| Concurrent Investment Advisors | ADD | +47.5% | $363.0K | $82.0K |
Key Facts
- 3 institutional buyers added $26.6M in aggregate to NOVT positions in Q3 2026
- Wasatch Advisors increased holdings by 38.4% (292.1K shares), adding $26.3M in value
- Truist Financial added 27.3% ($261K) and Concurrent Investment Advisors added 47.5% ($82K)
- No institutional sellers were identified in the cluster
- Insider activity is divergent (confluence score 8/100) with zero open-market insider buyers
- 13F data reflects positions as of September 30, 2026, and is stale by 45+ days
Financial Impact
3 institutions accumulated $152.5M in total holdings, with net buying of $26.6M. No selling was reported.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Insider activity is divergent with no open-market buying, reducing signal strength
- Cluster involves only 3 funds, all adding small to moderate positions relative to market cap
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-NOVT-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | Institutional Cluster | $145.83 | awaiting T+20 | awaiting T+20 | No price |
Jun 29, 2026 17w ago | S-3ASR | $162.24 $140.80 | ▼ −13.21% | ▼ −12.19% | No price |
US Market Status
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