Arrowstreet Capital Limited Partnership Trims Stock Holdings in Elastic N.V. $ESTC

Arrowstreet Capital Limited Partnership reduced its holdings in shares of Elastic N.V. (NYSE:ESTC) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 648,600 shares of the company’s stock after selling 30,719 shares during the period. Arrowstreet Capital Limited Partnership owned 0.61% of Elastic worth $54,696,000 at the end of the most recent reporting period.

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

Elastic Stock Down 1.8%

ESTC stock opened at $73.70 on Friday. 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 company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. The business’s 50-day moving average is $83.54 and its two-hundred day moving average is $84.34. Elastic N.V. has a fifty-two week low of $68.10 and a fifty-two week high of $118.84.

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

Elastic declared that its board has approved a stock repurchase program on Thursday, October 9th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Elastic

In other Elastic news, insider Carolyn Herzog sold 5,143 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $463,487.16. Following the sale, the insider directly owned 94,677 shares of the company’s stock, valued at $8,532,291.24. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ken Exner sold 6,290 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $566,854.80. Following the completion of the transaction, the insider directly owned 233,582 shares in the company, valued at approximately $21,050,409.84. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 252,042 shares of company stock valued at $22,667,394. Company insiders own 12.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ESTC. Guggenheim dropped their price target on shares of Elastic from $122.00 to $116.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Wells Fargo & Company decreased their target price on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, November 21st. Oppenheimer reiterated an “outperform” rating on shares of Elastic in a report on Friday, August 29th. UBS Group reduced their price target on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Finally, Truist Financial decreased their price objective on shares of Elastic from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Seventeen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.