Baird Upgrades Elastic N.V.: A Closer Look at Institutional Sentiment
On November 22, 2024, Baird raised its outlook for Elastic N.V. (MUN:3E1) from Neutral to Outperform.
Institutional Ownership Trends
Currently, 739 funds or institutions are holding positions in Elastic N.V., reflecting a slight decrease of 12 owners, or 1.60%, in the past quarter. The average portfolio weight dedicated to 3E1 stands at 0.38%, an increase of 0.44%. Over the last three months, total shares held by institutions have dropped by 0.87%, totaling 96,024K shares.
Baillie Gifford, a notable shareholder, currently holds 9,412K shares, equating to 9.16% ownership. This represents a decrease from 9,786K shares, a decline of 3.98%. The firm has reduced its allocation in 3E1 by 37.75% over the last quarter.
Another significant player, the Vanguard International Growth Fund Investor Shares (VWIGX), holds 5,658K shares, amounting to 5.51% ownership. Previously, this firm owned 5,943K shares, marking a decrease of 5.03% and a 30.51% cut in their portfolio allocation in 3E1 last quarter.
BlackRock retains 5,206K shares, which translates to 5.07% ownership. Meanwhile, JPMorgan Chase holds 3,924K shares, representing 3.82%. This is a considerable drop from their earlier holding of 4,595K shares, showing a decrease of 17.11%, and it also indicates a 96.40% reduction in their portfolio allocation for 3E1.
Voya Investment Management has 3,797K shares, or 3.70% ownership, also down from 4,558K shares, reflecting a 20.04% reduction. Their portfolio allocation in 3E1 decreased by 48.68% in the last quarter.
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