Baillie Gifford Trims Elastic N.V. Stake to 10.0%
Ticker: ESTC · Form: SC 13G/A · Filed: Feb 7, 2024 · CIK: 1707753
| Field | Detail |
|---|---|
| Company | Elastic N.V. (ESTC) |
| Form Type | SC 13G/A |
| Filed Date | Feb 7, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, stake-change, amendment, software
TL;DR
**Baillie Gifford cut its Elastic N.V. stake to 10.0%, down from 11.0%.**
AI Summary
Baillie Gifford & Co, a major investment management firm, filed an amended SC 13G/A on February 7, 2024, indicating a change in their ownership of Elastic N.V. (NYSE: ESTC) Ordinary Shares. As of January 31, 2024, Baillie Gifford & Co reported beneficial ownership of 10,030,000 shares, representing 10.0% of Elastic N.V.'s outstanding shares. This is a decrease from their previous filing, where they held 11.0% of the company, signaling a slight reduction in their stake in the software company.
Why It Matters
This filing shows a significant institutional investor, Baillie Gifford & Co, has slightly reduced its stake in Elastic N.V., which could be interpreted by the market as a minor loss of confidence or a portfolio rebalancing.
Risk Assessment
Risk Level: low — The change in ownership is a minor reduction by an institutional investor, not a complete divestment, and doesn't indicate a fundamental shift in the company's prospects.
Analyst Insight
An investor should note this minor reduction in institutional ownership but not overreact, as Baillie Gifford & Co still holds a substantial 10.0% stake. It's prudent to monitor future filings for further changes and consider this in the context of Elastic N.V.'s overall financial performance and market conditions.
Key Numbers
- 10,030,000 — Ordinary Shares owned (This is the total number of Elastic N.V. shares Baillie Gifford & Co beneficially owns.)
- 10.0% — Percentage of Class (This represents Baillie Gifford & Co's current ownership percentage of Elastic N.V.'s Ordinary Shares.)
- 11.0% — Previous Percentage of Class (This was Baillie Gifford & Co's ownership percentage in their prior filing, indicating a 1.0% reduction.)
- February 7, 2024 — Filing Date (This is the date the SC 13G/A amendment was filed with the SEC.)
- N14506104 — CUSIP Number (This uniquely identifies Elastic N.V.'s Ordinary Shares.)
Key Players & Entities
- Baillie Gifford & Co (company) — the investment management firm filing the SC 13G/A
- Elastic N.V. (company) — the subject company whose shares are being reported
- 10,030,000 shares (dollar_amount) — the number of Ordinary Shares beneficially owned by Baillie Gifford & Co as of January 31, 2024
- 10.0% (dollar_amount) — the percentage of Elastic N.V.'s outstanding shares owned by Baillie Gifford & Co as of January 31, 2024
- January 31, 2024 (date) — the date of the event requiring the filing
Forward-Looking Statements
- Elastic N.V.'s stock price may experience minor downward pressure or volatility due to the slight reduction in institutional ownership. (Elastic N.V. (ESTC)) — low confidence, target: within 1 week
- Baillie Gifford & Co will continue to hold a significant, but potentially reduced, stake in Elastic N.V. in future filings. (Baillie Gifford & Co) — medium confidence, target: within 6 months
FAQ
What is the primary purpose of this SC 13G/A filing by Baillie Gifford & Co?
The primary purpose of this SC 13G/A filing is to amend a previous Schedule 13G, reporting a change in Baillie Gifford & Co's beneficial ownership of Elastic N.V. Ordinary Shares as of January 31, 2024.
How many Ordinary Shares of Elastic N.V. does Baillie Gifford & Co beneficially own according to this filing?
According to this filing, Baillie Gifford & Co beneficially owns 10,030,000 Ordinary Shares of Elastic N.V. as of January 31, 2024.
What percentage of Elastic N.V.'s Ordinary Shares does Baillie Gifford & Co now own?
Baillie Gifford & Co now owns 10.0% of Elastic N.V.'s Ordinary Shares, as stated in the filing for the event date of January 31, 2024.
What was Baillie Gifford & Co's previous ownership percentage of Elastic N.V. before this amendment?
While not explicitly stated in this filing's provided text, the summary indicates a previous ownership of 11.0%, implying a 1.0% reduction in their stake.
Under which rule of the Securities Exchange Act of 1934 is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 7, 2024 regarding Elastic N.V. (ESTC).