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Abdiel Capital Advisors Increases Stake In MINDBODY (MB)

Colin Moran‘s Abdiel Capital Advisors has reported an increase to its holding of MINDBODY Inc (NASDAQ:MB) through a recently amended filing with the Securities and Exchange Commission. Abdiel’s stake in the company was increased to 2.81 million shares, up from 2.51 million shares reported in its 13F filing for the March quarter. The fund’s current position accounts for roughly 14.3% of the company’s outstanding stock.

A provider of cloud-based management software and payments platform, MINDBODY Inc (NASDAQ:MB) has a market cap of $940 million and does not pay a dividend. For much of 2016, the stock has been on an uptrend, having ended yesterday’s session at $17.13 per share, up by 12% for the year. The company released its second quarter results on Wednesday, posting a loss of $6.6 million. MINDBODY reported pulling in revenue of $33.6 million for the period, up by 35% year-over-year, and an adjusted loss of $0.10 per share. For the current quarter, the company said that it expects revenue in the range of $34.5 million-to-$35.5 million.

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Hedge fund sentiment towards MINDBODY Inc (NASDAQ:MB) plummeted during the first quarter, as the number of hedge funds invested in it fell to six by the end of March, from 12 registered three months earlier. Josh Resnick‘s Jericho Capital Asset Management held 700,000 shares of MINDBODY on March 31, unchanged during the quarter. Jack Ripsteen‘s Potrero Capital Research was also invested in the stock, holding 104,973 shares of it in its portfolio at the end of March.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Abdiel Qualified Master Fund 0 2,676,947 0 2,676,947 2,676,947 13.6%
Abdiel Capital 0 137,313 0 137,313 137,313 0.7%
Abdiel Capital Management 0 2,814,260 0 2,814,260 2,814,260 14.3%
Abdiel Capital Advisors 0 2,814,260 0 2,814,260 2,814,260 14.3%
Colin T. Moran 0 2,814,260 0 2,814,260 2,814,260 14.3%

Page 1 of 8 – SEC Filing






(Rule 13d-101)


(Amendment No. 5)




(Name of Issuer)

Class A Common Stock, par value $0.000004 per share

(Title of Class of Securities)


(CUSIP Number)

with a copy to:

Abdiel Capital

410 Park Avenue, Suite 930

New York, NY 10022

Colin T. Moran

Tel: (646) 496-9202

Ropes & Gray LLP

1211 Avenue of the Americas

New York, NY 10036

Sarah Davidoff, Esq.

Tel: (212) 596-9000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

July 27, 2016

Date of
Event Which Requires Filing of This Statement)



If the filing
person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box.  ¨

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities
Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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