Shares of Benefitfocus, Inc. (BNFT) fell in the third quarter, partly due to a secondary offering in July that increased the public float by more than 30%. Benefitfocus is the leading provider of cloud-based benefits software, offering an integrated suite of solutions to help customers more efficiently shop, enroll, manage, and exchange benefits information. We think Benefitfocus serves an addressable market more than 100 times larger than its current business, which should allow it to compound revenue at more than 30% annually. (Neal Rosenberg)
From Ron Baron (Trades, Portfolio)’s Baron Growth Fund Q3 2014 Report.
