Carillon Tower Advisers on Elastic N.V. (ESTC): “Fundamentals Remain Solid in our View”

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Mid Cap Growth Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. Mid-cap stocks as a whole advanced in the first quarter of 2021. However, there was a rather considerable disparity among the two style indexes, as the Russell Midcap® Growth Index (down 0.57%) significantly lagged
its Russell Midcap® Value Index (13.45%) counterpart. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Carillon Tower Advisers, in their Q1 2021 investor letter, mentioned Elastic N.V. (NYSE: ESTC), and shared their insights on the company. Elastic N.V. is a Mountain View, California-based software company that currently has a $9.9 billion market capitalization. Since the beginning of the year, ESTC delivered a -24.33% return, while its 12-month gains are up by 68.72%. As of May 04, 2021, the stock closed at $110.58 per share.

Here is what Carillon Tower Advisers has to say about Elastic N.V. in their Q1 2021 investor letter:

“Elastic is a software provider of enterprise search and data analytics technology. Like many other firms in the technology sector, the firm’s shares underperformed in the first quarter as investors slightly lowered the exposure to higher growth companies. Despite this, Elastic was still able to deliver earnings results and guidance that came in above expectations, and its fundamentals remain solid in our view.”


Our calculations show that Elastic N.V. (NYSE: ESTC) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Elastic N.V. was in 49 hedge fund portfolios, compared to 36 funds in the third quarter. ESTC delivered a -31.16% return in the past 3 months.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

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