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Amber Road Inc. (AMBR): Discovery Group Decreases Stake

A freshly-amended 13D filing with the US Securities and Exchange Commission revealed that Michael Murphy and Daniel Donoghue‘s Discovery Group has lowered its stake in Amber Road Inc. (NYSE:AMBR) to 1.51 million shares, which account for 5.7% of the outstanding stock. Previously, the fund’s stake consisted of 1.78 million shares that amassed 6.7% of the company’s stock. 

Amber Road is a company that provides a cloud-based global trade management solutions.  Over the past 12 months, the company’s shares have gained 113.16%. In its financial report for the second quarter of 2016, Amber Road disclosed adjusted non-GAAP loss per share of $0.11 and revenue of $18.1 million, topping both the estimates of a loss per share of $0.18 and revenue of $17.8 million. Recently, Raymond James Financial boosted its price target on Amber Road’s stock to $13 from $10.50, with an ‘Outperform’ rating.

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The number of hedge funds from our database increased by two recently and there were 10 investors long  Amber Road. (NYSE:AMBR) at the end of June. Among bullish investors were Mark Coe’s Coe Capital Management, which owned a position worth around $887.55 million, Josh Goldberg’s G2 Investment Partners Management, which held a position valued at $10.73 million, Chuck Royce’s Royce & Associates, Jim Simons’ Renaissance Technologies, and John A. Levin’s Levin Capital Strategies.

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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
Discovery Equity Partners 1,510,255 1,510,255 1,510,255 5.7%
Discovery Group I 1,510,255 1,510,255 1,510,255 5.7%
Daniel J. Donoghue 1,510,255 1,510,255 1,510,255 5.7%
Michael R. Murphy 1,510,255 1,510,255 1,510,255 5.7%

Page 1 of 9 – SEC Filing



Washington, D.C. 20549


(Rule 13d-101)



TO § 240.13d-1(a) AND AMENDMENTS

PURSUANT TO § 240.13d-2(a)


(Amendment No. 4)*


Road, Inc.

(Name of Issuer)


Common Stock, par value $0.001 per share

(Title of Class of Securities)



(CUSIP Number)

R. Murphy

Discovery Group I, LLC

300 South Wacker Drive

Suite 600

Chicago, Illinois 60606

Telephone Number: (312) 265-9600

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

2, 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 that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e),
240.13d-1(f) or 240.13d-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 §240.13d-7 for other parties to whom
copies are to be sent.

*The remainder of this cover page shall
be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any
subsequent amendment containing information which would alter disclosures provided in a prior cover page.

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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