Ardsley Partners Increases Stake in Saba Software Above 5%

A 13G filed with the SEC has disclosed that Philip Hempleman’s Ardsley Partners owns 1.6 million shares of learning and collaboration software company Saba Software, Inc. (NASDAQ:SABA). Our database of 13F filings shows that Ardsley, which now owns over 5% of the shares outstanding, had 900,000 shares in its portfolio at the end of the third quarter (see more of Ardsley’s stock picks). Saba has a market capitalization of about $240 million (and over $1 million in average daily dollar volume). The company announced in November that it will need to restate historical financial statements, though its most recent report suggested that operational figures such as cloud billings and customer signings are up.