MINDBODY Inc (MB): Abdiel Capital Advisors Buys Even More Shares

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Colin Moran and his fund Abdiel Capital Advisors just can’t get enough of MINDBODY Inc (NASDAQ:MB). According to a recent regulatory filing, the fund has increased its holding in the stock to 3.29 million shares from the 2.81 million shares it reported holding at the end of July. Abdiel Capital’s current position accounts for roughly 16.7% of the company’s outstanding stock.

MINDBODY Inc (NASDAQ:MB) is a software company that offers cloud-based management software and payment services for the wellness services industry. After recovering from a sell-off at the start of the year, the stock embarked on a rally, advancing by 25% through yesterday’s closing price of $19.18 per share. In the second quarter, the company registered a 35% rise in revenue to $33.6 million, while posting an adjusted loss of $0.10 per share, narrower than the $0.21 loss that it posted a year earlier. The company also noted a 22% year-over-year increase in the number of subscribers and a 9% boost in average monthly revenue per subscriber.

“We had a successful second quarter highlighted by robust growth in both brick and mortar subscribers and payments volume. These results demonstrate the ongoing strength of the wellness services market we serve and we look forward to continuing to extend our market leadership,” commented Brett White, Chief Financial Officer and Chief Operating Officer of MINDBODY.


MINDBODY Inc (NASDAQ:MB) was not a very popular stock among the hedge funds in our database on March 31, as only six of them had reported holding a long position in the company as of that time, down from 12 three months earlier. According to its latest 13F filing, Jack Ripsteen‘s Potrero Capital Research held 104,973 shares of MINDBODY at the end of March. Jericho Capital Asset Management, run by Josh Resnick, held 700,000 shares on March 31, unchanged during the first quarter.

Follow Mindbody Inc.

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 3,140,664 0 3,140,664 3,140,664 15.9%
Abdiel Capital 0 152,053 0 152,053 152,053 0.8%
Abdiel Capital Management 0 3,292,717 0 3,292,717 3,292,717 16.7%
Abdiel Capital Advisors 0 3,292,717 0 3,292,717 3,292,717 16.7%
Colin T. Moran 0 3,292,717 0 3,292,717 3,292,717 16.7%

Page 1 of 8 – SEC Filing






(Rule 13d-101)


(Amendment No. 6)




(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)

August 4, 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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