Carl Anderson’s Marcho Partners Is Investing In These 5 Stocks

4. Elastic N.V. (NYSE:ESTC)

Marcho Partners’ Stake Value: $175.9 million
Percentage of Marcho Partners’ 13F Portfolio: 11.78%
Number of Hedge Fund Holders: 55

Founded in Netherlands and headquartered in California, Elastic N.V. (NYSE:ESTC) is a search company that specializes in self-managed and SaaS services for search, logging, security, observability, and analytics. The company ranks fourth on our list of the 10 stocks Carl Anderson’s Marcho Partners is investing in.

On September 17, Barclays analyst Raimo Lenschow raised the price target on Elastic N.V. (NYSE:ESTC) to $200 from $185, and kept an Overweight rating on the shares of the company.

As of Q2 2021, Marcho Partners holds over 1.2 million shares in Elastic N.V. (NYSE:ESTC), worth more than $175.9 million in its investment portfolio. Of the 873 hedge funds being tracked by Insider Monkey, 55 held stakes in the company by the end of June.

In its second-quarter 2021 investor letter, Greenhaven Road Capital mentioned Elastic N.V. (NYSE:ESTC). Here is what the fund said:

“Our top five holdings represent more than half of our total long exposure and therefore five greatly influence overall returns. Elastic Software (ESTC) – Management continues to innovate and execute, rolling out new products and converting existing users from free to paid versions. They made adjustments to their licensing agreements, making it more difficult for Amazon to rip them off, and provided forward guidance that convinced investors that the growth train will continue to run for at least a few more years.”