Merit Financial Group LLC Increases Stock Holdings in Elastic N.V. $ESTC

Merit Financial Group LLC increased its holdings in Elastic N.V. (NYSE:ESTC) by 169.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,529 shares of the company’s stock after buying an additional 9,139 shares during the period. Merit Financial Group LLC’s holdings in Elastic were worth $1,228,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. AXQ Capital LP acquired a new position in Elastic in the 2nd quarter valued at $419,000. Geode Capital Management LLC grew its position in shares of Elastic by 3.6% in the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock valued at $132,384,000 after purchasing an additional 54,812 shares during the period. Mackenzie Financial Corp lifted its position in Elastic by 622.2% during the second quarter. Mackenzie Financial Corp now owns 77,005 shares of the company’s stock worth $6,494,000 after buying an additional 66,342 shares during the period. Panagora Asset Management Inc. boosted its stake in Elastic by 102.3% in the 2nd quarter. Panagora Asset Management Inc. now owns 464,268 shares of the company’s stock worth $39,152,000 after buying an additional 234,735 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its holdings in Elastic by 147.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 57,690 shares of the company’s stock valued at $4,865,000 after buying an additional 34,336 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Stock Up 2.4%

Shares of Elastic stock opened at $74.33 on Tuesday. Elastic N.V. has a twelve month low of $68.10 and a twelve month high of $118.84. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of -72.17, a price-to-earnings-growth ratio of 287.78 and a beta of 0.92. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average price of $79.74 and a 200 day moving average price of $82.63.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, November 20th. The company reported $0.64 EPS 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 company had revenue of $423.48 million for the quarter, compared to analysts’ expectations of $418.27 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. 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 research analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Elastic declared that its board has authorized a share repurchase plan on Thursday, October 9th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently issued reports on ESTC. Scotiabank decreased their target price on shares of Elastic from $90.00 to $76.00 and set a “sector perform” rating on the stock in a research report on Friday, November 21st. Wells Fargo & Company lowered their price objective on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, November 21st. Royal Bank Of Canada dropped their price objective on Elastic from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Monday. DA Davidson reduced their target price on Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Finally, Cantor Fitzgerald lowered their price target on Elastic from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Insider Activity

In other news, insider Carolyn Herzog sold 5,353 shares of Elastic stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $401,742.65. Following the sale, the insider owned 89,324 shares in the company, valued at $6,703,766.20. This trade represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ken Exner sold 6,544 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $491,127.20. Following the completion of the transaction, the insider owned 227,038 shares of the company’s stock, valued at $17,039,201.90. This trade represents a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,891 shares of company stock worth $4,654,707 in the last ninety days. 12.70% of the stock is currently owned by company insiders.

About Elastic

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.