Archon Capital Management LLC Buys New Stake in Elastic N.V. $ESTC

Archon Capital Management LLC purchased a new stake in Elastic N.V. (NYSE:ESTC) during the second quarter, according to its most recent filing with the SEC. The fund purchased 45,000 shares of the company’s stock, valued at approximately $3,795,000. Elastic comprises about 3.1% of Archon Capital Management LLC’s portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers lifted its position in shares of Elastic by 10.1% in the first quarter. Cetera Investment Advisers now owns 7,929 shares of the company’s stock worth $706,000 after buying an additional 726 shares in the last quarter. Natixis Advisors LLC purchased a new position in Elastic during the 1st quarter valued at approximately $1,131,000. US Bancorp DE increased its stake in Elastic by 108.4% in the 1st quarter. US Bancorp DE now owns 4,806 shares of the company’s stock worth $428,000 after acquiring an additional 2,500 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Elastic by 24.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,884 shares of the company’s stock worth $346,000 after acquiring an additional 773 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Elastic during the 1st quarter valued at approximately $1,399,000. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In related news, CTO Shay Banon sold 104,326 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.34, for a total value of $9,424,810.84. Following the transaction, the chief technology officer owned 4,363,780 shares of the company’s stock, valued at $394,223,885.20. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul R. Auvil III acquired 10,000 shares of the stock in a transaction on Monday, December 1st. The stock was bought at an average cost of $71.02 per share, with a total value of $710,200.00. Following the completion of the transaction, the director owned 37,956 shares in the company, valued at $2,695,635.12. This trade represents a 35.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 252,042 shares of company stock worth $22,667,394 over the last ninety days. 12.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ESTC. Canaccord Genuity Group decreased their price target on shares of Elastic from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Morgan Stanley decreased their target price on shares of Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Stifel Nicolaus lowered their price target on shares of Elastic from $134.00 to $108.00 and set a “buy” rating for the company in a report on Friday, November 21st. Jefferies Financial Group reduced their price objective on Elastic from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Finally, Guggenheim decreased their price objective on Elastic from $122.00 to $116.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.25.

Elastic Trading Down 1.8%

Shares of NYSE ESTC opened at $73.70 on Friday. Elastic N.V. has a fifty-two week low of $68.10 and a fifty-two week high of $118.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market cap of $7.77 billion, a price-to-earnings ratio of -71.55 and a beta of 0.97. The business’s 50 day moving average price is $83.54 and its 200-day moving average price is $84.34.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, November 20th. The company reported $0.64 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $418.27 million. During the same quarter in the prior year, the company posted $0.59 EPS. Elastic’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. On average, sell-side analysts expect that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 9th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

About Elastic

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.