Portolan Capital Management LLC is a fully registered investment advisory firm with its offices in Boston, Massachusetts. The firm also has other business activities such as commodity pool operator and trading advisor. The top 3 holdings of Portolan Capital Management LLC for the financial quarter ended September 30, 2014, were Move Inc (NASDAQ:MOVE), Callidus Software Inc. (NASDAQ:CALD), and ABIOMED, Inc. (NASDAQ:ABMD). This is according to the firm’s SEC 13F filings for the period.
The primary investment of Portolan Capital Management LLC for the period was Move Inc (NASDAQ:MOVE) with a total of $40.01 million in value. Move Inc (NASDAQ:MOVE) is a real estate online platform that runs the Move Network of real estate websites for global consumers and industry professionals. Portolan Capital Management was the leading holder of the company, owning a total of 1.91 million in shares. The second largest holder was Ulysses Management with 1.5 million shares. (You can see complete list on hedge funds which hold positions on Move Inc (NASDAQ:MOVE) at the end of the third quarter).
Callidus Software Inc. (NASDAQ:CALD) came second with a total of $10.88 million in investment value. Callidus Software Inc. (NASDAQ:CALD) is a technology company that develops enterprise software and provides SaaS services to clients. The company recently issued its guidance for the 2014 financial year, giving a range of between $0.14 and $0.16 in earnings per share. Its revenue guidance is estimated at between $134 and $135 million. Callidus Software Inc. (NASDAQ:CALD) was also recently upgraded to “outperform” from “neutral” by Zacks. The firm reiterated its $17.10 price target on the stock.
ABIOMED, Inc. (NASDAQ:ABMD) was the third largest investment of Portolan Capital Management LLC, coming in with a total of $10.16 million in value. ABIOMED, Inc. (NASDAQ:ABMD) is a global manufacturer of medical devices that are focused on cardiovascular functions. Some of the company’s renowned products are Impella and AB5000 Ventricle artificial heart. The company’s revenue for the second quarter 2015 jumped 17% year-over-year to a total of $51.9 million. The income for the same quarter was $3.8 million or $0.09 per share.
This article has been written by Victor Ochieng.