5 Mid-Cap Stocks Hedge Funds Are Talking About

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

Market Cap as of March 11, 2022: $6.7 billion

Number of Hedge Fund Holders: 60

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. Mid-cap stocks overall posted solid gains in the final quarter of 2021. As was the case for the majority of the year, the Russell Midcap® Growth Index (up 2.85%) lagged behind its Russell Midcap® Value Index (up 8.54%) counterpart. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Carillon Eagle Mid Cap Growth Fund, in its Q4 2021 investor letter, mentioned Elastic N.V. (NYSE:ESTC) and discussed its stance on the firm. Elastic N.V. (NYSE:ESTC) is a Mountain View, California-based information technology and data analysis services provider with a $6.7 billion market capitalization. Elastic N.V. (NYSE:ESTC) shares have lost 41.49% return since the beginning of the year, and 38.06% over the past 12 months. The stock closed at $72.02 per share on March 11, 2022.

Here is what Carillon Eagle Mid Cap Growth Fund had to say about Elastic N.V. (NYSE:ESTC) in its Q4 2021 investor letter:

“Elastic N.V. (NYSE:ESTC), a provider of data search technology, with applications including website search and security software management, delivered solid earnings results, with accelerating billings growth and strong new customer additions. While guidance came in above expectations, an overall pullback in enterprise software stocks during the quarter did not leave Elastic unscathed. We believe the company is well positioned to capitalize on cloud adoption, and will increasingly cross-sell software to observe, manage, and secure IT networks.”