Shares of cybersecurity software vendor FireEye, Inc. (NASDAQ:FEYE) fell during the third quarter on disappointing guidance as new management reset expectations for 2016 in an effort to build a solid base for 2017. New management’s plan is to right-size the organization, launch new subscription products that expand the customer base and respond to customer needs driven by the shift to the cloud and mobile, and to fine tune go-to-market partnerships. We reduced our weighting in FireEye, but retain a smaller investment in light of the significant long-term opportunity we believe management is attacking with its leading technology. (Gilad Shany)
From Baron Opportunity Fund third-quarter 2016 commentary.
