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Discovery Group Boosts Stake In Tubemogul Inc (TUBE)

Michael Murphy and Daniel Donoghue‘s Discovery Group had its stake in Tubemogul Inc (NASDAQ:TUBE) increased, according to a recently-amended filing with the Securities and Exchange Commission. According to this filing, the fund now holds 2.31 million shares, the equivalent of 6.5% of the company’s common stock, up from the previous 2.2 million stake reported in its latest 13F filing.

A developer of software for digital branding, Tubemogul Inc (NASDAQ:TUBE) has a market cap of $435 million and does not pay a dividend. In the beginning of May, the company reported first quarter financial results that were below expectations. Tubemogul posted a loss of $8.3 million or $0.23 per share, while revenues stood at $42.1 million. The consensus among analysts was a loss of $0.19 per share on the back of $42.4 million in revenues. So far this year, the stock has not been in a clear trend, trading sideways between the $10 and $14 levels. Shares ended yesterday’s trading session at $12.21, down by 8.3% since the start of the year.

Hedge fund interest in Tubemogul Inc (NASDAQ:TUBE) inched up during the first quarter, as the number of long positions rose to 8 by the end of March, from 7 registered a quarter before. Anand Parekh’s Alyeska Investment Group reportedly holds 1.1 million shares, down by 8% over the quarter and valued at $14.2 million. Adage Capital Management, run by Phill Gross and Robert Atchinson, is also invested, holding 1.05 million shares worth $13.6 million at the end of March.

Software Developer

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 2,313,536 2,313,536 2,313,536 6.5%
Discovery Group I 2,313,536 2,313,536 2,313,536 6.5%
Daniel J. Donoghue 2,313,536 2,313,536 2,313,536 6.5%
Michael R. Murphy 2,313,536 2,313,536 2,313,536 6.5%

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. 1)*



(Name of Issuer)


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)

14, 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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