Arrowstreet Capital Limited Partnership Sells 30,719 Shares of Elastic N.V. $ESTC

Arrowstreet Capital Limited Partnership trimmed its position in Elastic N.V. (NYSE:ESTC) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 648,600 shares of the company’s stock after selling 30,719 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Elastic were worth $54,696,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Elastic by 3.6% during the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock valued at $132,384,000 after buying an additional 54,812 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Elastic by 6,651.3% during the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company’s stock worth $122,978,000 after acquiring an additional 1,383,065 shares in the last quarter. RGM Capital LLC boosted its position in shares of Elastic by 38.1% during the 1st quarter. RGM Capital LLC now owns 1,197,030 shares of the company’s stock valued at $106,655,000 after acquiring an additional 330,290 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Elastic by 1,450.8% in the first quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company’s stock valued at $78,448,000 after purchasing an additional 823,680 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its holdings in shares of Elastic by 23.9% in the second quarter. TimesSquare Capital Management LLC now owns 636,920 shares of the company’s stock valued at $53,711,000 after purchasing an additional 122,890 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Elastic news, Director Paul R. Auvil III acquired 10,000 shares of the stock in a transaction dated Monday, December 1st. The stock was purchased at an average price of $71.02 per share, with a total value of $710,200.00. Following the transaction, the director directly owned 37,956 shares of the company’s stock, valued at $2,695,635.12. This trade represents a 35.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $88.12, for a total transaction of $440,600.00. Following the transaction, the chief executive officer owned 452,314 shares in the company, valued at approximately $39,857,909.68. This trade represents a 1.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 252,042 shares of company stock worth $22,667,394. Insiders own 12.70% of the company’s stock.

Elastic Trading Down 1.8%

NYSE:ESTC opened at $73.70 on Friday. The firm has a 50-day simple moving average of $83.54 and a 200-day simple moving average of $84.34. Elastic N.V. has a one year low of $68.10 and a one year high of $118.84. The firm has a market cap of $7.77 billion, a P/E ratio of -71.55 and a beta of 0.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The firm had revenue of $423.48 million during the quarter, compared to analysts’ expectations of $418.27 million. During the same period in the prior year, the business posted $0.59 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. Equities analysts anticipate that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Elastic declared that its Board of Directors has authorized a stock buyback program on Thursday, October 9th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ESTC. Jefferies Financial Group reduced their target price on shares of Elastic from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Barclays reduced their price objective on Elastic from $125.00 to $107.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. Rosenblatt Securities restated a “buy” rating and set a $130.00 price objective on shares of Elastic in a research report on Wednesday, November 19th. Scotiabank dropped their target price on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a report on Friday, November 21st. Finally, DA Davidson cut their target price on Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Seventeen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Elastic has a consensus rating of “Moderate Buy” and a consensus target price of $107.25.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.