Ann: Ongoing Disclosure Notice - Graham John Shaw, page-4

I agree that is refreshing to see. This on top of Habour Asset Management taking a 5% stake recently.
It was very difficult to hold or even add in the relentless face of directors, CEOs, founders and the huljich family offloading their stakes.
I just had to keep coming back to the age old advice, "have the business fundamentals changed". From what I can tell, they had only improved with that one caveat of how PPH messaged customer number growth in the 2020 interim results.
Ebitdaf, revenue, ARPC (key metric) and especially operating margin have improved or remain strong and there are so many verticals for Pushpay to grow through.
Continues to be long term hold for me and have added in the SP weakness.