The Smart Money's Favorite Growth Stocks

More often than not, Wall Street's hot stocks flicker out as quickly as they ignite -- if they're flying high on nothing but hype, they're bound to cool off sooner or later. Which is why many investors favor growth stocks trading at reasonable valuations. With a history of strong earnings growth and profitability, combined with a reasonable valuation, a growth stock offers that nice slow burn that you just don't get from a flash in the pan.

The downside of investing in a growth company? Big growth companies can see a lot of stock price volatility. And they often have high P/E ratios -- meaning you may have to pay a premium in order to turn a profit.

So how can you identify growth companies trading at decent valuations? Following the smart money can be a good way to start. Institutional investors have the resources and expertise to sniff out growth companies that still have some upside -- so when these experts start snapping up stock, you may want to pay attention to what they're buying.

To help you do just that, here's a list of nine growth stocks seeing large institutional inflows over the past three months -- are they worth putting on your radar? (Click here to access free interactive tools to analyze these ideas.)

Projected earnings growth rates sourced from Finviz, institutional trading data sourced from Reuters.

Interactive Chart: Press Play to see how the market caps for all the stocks mentioned have changed over the last two years.

Kapitall's Eben Esterhuizen and Alicia Sellitti do not own shares of any companies mentioned.