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Imperva Inc (IMPV): Billionaire Paul Singer’s Elliott Reveals New Stake

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Activist billionaire Paul Singer‘s Elliott Associates together with its affiliates recently acquired 2.20 million shares of Imperva Inc (NYSE:IMPV), which account for 9.8% of the company’s outstanding stock, as reported in a new 13D filing with the US Securities and Exchange Commission. This acquisition represents a new addition to Elliott Associates’ portfolio. In addition, the filing revealed that Elliott Associates, L.P.  has started negotiations with the management of the company aiming to raise shareholder value, and it will continue to further examine their new investment. On the back of Elliott reporting a stake, Imperva’s stock jumped by nearly 10% in extended trading on Tuesday morning.

Paul Singer ELLIOTT MANAGEMENT

Imperva is a company that provides cyber and data security products and solutions, which protect important business data and applications.  Since the beginning of the year, Imperva stock is down by 36.12%. Recently, Deutsche Bank reiterated its ‘Buy’ rating on Imperva’s stock with a price target of $45.00, and Pacific Crest also reiterated its ‘Buy’ rating but at a higher price target of $65.00.
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According to Insider Monkey’s database, 15 investors reported long positions in Imperva (NYSE:IMPV), versus 30 funds a quarter earlier. Philippe Laffont’s Coatue Management held the most valuable position, worth around $27.6 million, and the second biggest position was reported by Jim Simons’ Renaissance Technologies, valued at $8.8 million. Some other investors long the stock are Daniel S. Och’s OZ Management, Jacob Gottlieb’s Visium Asset Management, and Glenn Russell Dubin’s Highbridge Capital Management.
Among investors who lost interest in the stock and dropped off their positions are Daniel Benton’s Andor Capital Management, which dumped $25.3 million in stock, and  Joe DiMenna’s  ZWEIG DIMENNA PARTNERS, which dropped its stock, about $18.5 million worth.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Elliott Associates 726,002 0 726,002 0 726,002 2.3%
Elliott International 0 1,473,998 0 1,473,998 1,473,998 4.6%
Elliott International Capital Advisors Inc 0 1,473,998 0 1,473,998 1,473,998 4.6%

Page 1 of 13 – SEC Filing

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
SCHEDULE 13D
(RULE 13D – 101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(Amendment No. )*
Imperva, Inc.
(Name of Issuer)
Common Stock, $0.0001 par value
(Title of Class of Securities)
45321L 10 0
(CUSIP Number)
Stephen M. Schultz, Esq.
Kleinberg, Kaplan, Wolff & Cohen, P.C.
551 Fifth Avenue, New York, New York 10176
(212) 986-6000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
June 9, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ].
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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