Herald Investment Management Ltd Lowers stake in Support.com (SPRT)

Support.com (SPRT) : Herald Investment Management Ltd reduced its stake in Support.com by 4.5% during the most recent quarter end. The investment management company now holds a total of 1,000,000 shares of Support.com which is valued at $850,000 after selling 47,100 shares in Support.com , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Support.com makes up approximately 0.33% of Herald Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp reduced its stake in SPRT by selling 765,000 shares or 23.34% in the most recent quarter. The Hedge Fund company now holds 2,513,146 shares of SPRT which is valued at $2,136,174. Support.com makes up approx 0.01% of Royce Associates Lp’s portfolio. Gsa Capital Partners Llp sold out all of its stake in SPRT during the most recent quarter. The investment firm sold 21,128 shares of SPRT which is valued $18,593.

Support.com opened for trading at $0.8949 and hit $0.92 on the upside on Monday, eventually ending the session at $0.8902, with a gain of 0.02% or 0.0002 points. The heightened volatility saw the trading volume jump to 1,26,266 shares. Company has a market cap of $49 M.

On the company’s financial health, Support.com reported $-0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.08. The company had revenue of $14.90 million for the quarter, compared to analysts expectations of $14.54 million. The company’s revenue was down -27.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.03 EPS.

Support.com Inc. (Support.com) is a provider of cloud-based software and services that enable technology support for a connected world. The Company offers outsourced support services for service providers retailers and technology companies. Its technology support services programs are designed for both the consumer and small business markets and include computer and mobile device set-up security and support virus and malware removal wireless network set-up and home security and automation system support. Its cloud-based offering Nexus is a SaaS solution for companies to support interactions with their customers using their own or third-party support personnel. It also offers end-user software products including tools and apps designed for most common technology issues including computer and mobile device maintenance optimization and security. Its brands include SUPPORT.COM PERSONAL TECHNOLOGY EXPERTS BUSINESS TECHNOLOGY EXPERTS and NEXUS.

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