Proofpoint Inc (PFPT), Cornerstone OnDemand, Inc. (CSOD) & Two Other Stocks: Was This Fund Right to Bet on Them?

We can say Hunt Lane Capital made a really great addition to its equity portfolio in the June quarter, as it acquired 359,000 shares of Electronic Arts Inc. (NASDAQ:EA), because the company’s stock advanced by 12.7% in the third quarter. As the fund left the stake unchanged between July and September, the value of the position increased to $30.66 million from $27.2 million. Heading into the third quarter of 2016, a total of 58 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 4% sequentially. Coatue Management was the largest shareholder of Electronic Arts Inc. (NASDAQ:EA), with a stake worth $358.3 million reported as of the end of June. Trailing Coatue Management was Lone Pine Capital, which amassed a stake valued at $269.4 million. Citadel Investment Group, Two Sigma Advisors, and Renaissance Technologies also held valuable positions in the company.

The only stock in today’s article that declined by 3% in the third quarter, is Commscope Holding Company Inc (NASDAQ:COMM). However, after having boosted the stake by 203% in the June quarter, the fund further increased it by 11% to 797,000 shares worth $24.0 million during the third quarter. During the second quarter, the number of funds followed by our team that held long positions in Commscope Holding Company went up by 31% to 47. Among these funds, Chieftain Capital held the most valuable stake in Commscope Holding Company Inc (NASDAQ:COMM), which was worth $476.5 million at the end of the second quarter. On the second spot was Maverick Capital, which amassed $47 million worth of shares. Moreover, FPR Partners, Route One Investment Company, and Corvex Capital were also bullish on Commscope Holding Company Inc (NASDAQ:COMM).

Disclosure: None