Exchange Traded Concepts LLC Acquires 14,948 Shares of Elastic N.V. $ESTC

Exchange Traded Concepts LLC lifted its stake in Elastic N.V. (NYSE:ESTC) by 41.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 50,673 shares of the company’s stock after acquiring an additional 14,948 shares during the period. Exchange Traded Concepts LLC’s holdings in Elastic were worth $4,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in Elastic by 45.4% in the first quarter. Russell Investments Group Ltd. now owns 21,005 shares of the company’s stock worth $1,872,000 after buying an additional 6,557 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Elastic by 114.9% during the 1st quarter. Wellington Management Group LLP now owns 11,632 shares of the company’s stock valued at $1,036,000 after acquiring an additional 6,218 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Elastic by 27.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the company’s stock worth $88,000 after acquiring an additional 210 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Elastic by 53.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after acquiring an additional 152 shares in the last quarter. Finally, Jump Financial LLC raised its stake in Elastic by 111.0% during the 1st quarter. Jump Financial LLC now owns 5,744 shares of the company’s stock worth $512,000 after acquiring an additional 3,022 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 5,800 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $74.60, for a total transaction of $432,680.00. Following the transaction, the executive directly owned 161,484 shares in the company, valued at $12,046,706.40. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Carolyn Herzog sold 5,353 shares of Elastic stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $401,742.65. Following the sale, the insider directly owned 89,324 shares of the company’s stock, valued at approximately $6,703,766.20. This trade represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 63,147 shares of company stock valued at $4,760,940. 12.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of analyst reports. Monness Crespi & Hardt cut shares of Elastic from a “buy” rating to a “neutral” rating in a research note on Friday, November 21st. Jefferies Financial Group dropped their target price on shares of Elastic from $125.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 21st. Cantor Fitzgerald decreased their price target on Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Canaccord Genuity Group lowered their price objective on Elastic from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Finally, Cowen reiterated a “hold” rating on shares of Elastic in a research report on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $107.25.

Elastic Stock Performance

Shares of Elastic stock opened at $76.50 on Thursday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average is $81.30 and its two-hundred day moving average is $83.05. Elastic N.V. has a 52 week low of $68.10 and a 52 week high of $118.84. The company has a market capitalization of $8.06 billion, a PE ratio of -74.27 and a beta of 0.97.

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

Elastic announced that its board has authorized a stock repurchase plan on Thursday, October 9th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Elastic Company Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.