Philip Hempleman‘s Ardsley Partners continues its selling streak of Saba Software, Inc. (OTCMKTS:SABA) shares. In a new filing with the Securities and Exchange Commission, Ardsley Partners reported disposing another 50,000 shares of the company, in one transaction at a price of $12.40 apiece. Following the sale, the fund trimmed the stake to approximately 3.26 million shares.
The move comes only a couple of days after Ardsley Partners reported another sale of Saba Software Inc. (OTCMKTS:SABA) shares. Previously, the fund cut the holding by 15,000 shares, which have been sold at $12.36 apiece.
With $489 million in its equity portfolio, Ardsley Partners, managed by Philip Hempleman, focuses on growth-oriented value stocks. The fund invests globally. Though it is not very sector focused, its major holdings are in Technology, Services, Healthcare, and Basic Materials sectors. The fund has invested almost 8% of its equity portfolio in Jazz Pharmaceuticals Inc (NASDAQ:JAZZ). Ardsley Partners owned 423,500 shares of the company, valued at $38.95 million, at the end of the third quarter of 2013. Apart from Jazz Pharmaceuticals, the fund holds a $3814 million stake in United Rentals Inc (NYSE:URI), owning 654,300 shares and a $34.41 million position in Canadian Solar Inc (NASDAQ:CSIQ), which amasses 2.03 million shares.
Saba Software Inc. (OTCMKTS:SABA) is a provider of business-critical software that combines enterprise learning, people management and collaboration technologies. It is now a global leader in cloud-based talent management solutions. The company has battled several legal suits in the past year on account of having to restate its financial results from 2008 to the middle of 2012. However, the stocks have been on a roll recently with the prices touching the 52-week high of $12.50 per share in yesterday’s trading. The company launched its new recruitment offering, Recruiting@Work, in December 2013.