Light Street Capital Portfolio: Top 5 Stocks

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

Light Street Capital’s Stake Value: $75.62 million
Percentage of Light Street Capital’s 13F Portfolio: 3.28%
Number of Hedge Fund Holders: 55

Founded in the Netherlands, Elastic N.V. (NYSE:ESTC) is a California-headquartered search company that specializes in self-managed and SaaS services for search, logging, security, observability, and analytics.

As of the end of June, Glen Kacher’s Light Street Capital holds 518,797 shares of Elastic N.V. (NYSE:ESTC), worth more than $75.6 million

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

Daniel Gibson of Sylebra Capital Management is one of the biggest stakeholders of Elastic N.V. (NYSE:ESTC) as of the end of the second quarter, according to the data tracked by Insider Monkey. Overall, 55 funds were bullish on Elastic N.V. (NYSE:ESTC) at the end of the June, compared to 52 a quarter earlier

Greenhaven Road Capital, in its third-quarter investor letter, highlighted Elastic N.V. (NYSE:ESTC):

“Elastic Software (ESTC) – Share prices are up more than threefold since our first purchases of Elastic Software. The company continues to report best-in-class net revenue retention (amount generated from existing customers) of 130%. With recent acquisitions, they are continuing their expansion into security. This is the company with the highest product velocity and largest addressable markets in our portfolio. With a massive base of customers using freemium/opensource products, there are fertile hunting grounds for growth.”