According to a recent 13G form filed with the Securities and Exchange Commission, Alex Sacerdote‘s Whale Rock Capital Management has re-opened a position in Textura Corp (NYSE:TXTR) of some 1.26 million shares, after the fund disposed of its entire holding amounting to 1.32 million shares during the first quarter. The current holding represents 4.92% of the company’s outstanding shares and is valued at $36.54 million based on the current stock price.
Alex Sacerdote of Whale Rock Capital Management
Prior to launching Whale Rock in 2006, Sacerdote worked at Fidelity Investments, Interactive Imaginations, and Smith Barney. According to the latest 13F filing of the fund, the money manager, who earned a degree from Harvard Business School, has 90% of Whale Rock’s holdings invested in the technology sector, while consumer discretionary forms the remaining 10% of the $976.19 million public equity portfolio.
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Textura Corp (NYSE:TXTR) is one of the leading providers of collaboration software for the construction industry. The solutions ease data sharing and exchange capabilities during various stages of the construction project lifecycle. Some of the products include the invoice generator software, Construction Payment Management, and an Early Payment Program, which allows users to make early payments to subcontractors with the financial intermediation of Greensill Capital.
Smart money pulled itself out of Textura Corp (NYSE:TXTR) in significant numbers during the first quarter, which as mentioned, included Sacerdote himself. Among the hedge funds that we track, just five had positions, with an aggregate investment of $27.56 million at the end of March compared to eight firms with $71.03 million in holdings at the end of the previous quarter. Steve Cohen‘s Point72 Asset Management and Weatherbie Capital, managed by Matthew A. Weatherbie, were the largest stockholders of Textura Corp (NYSE:TXTR) among them, with respective holdings of 406,900 shares valued at $11.06 million and about 263,000 shares valued at $7.15 million, both as of the end of March.
