Elastic N.V. $ESTC Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC increased its position in Elastic N.V. (NYSE:ESTC) by 169.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 14,529 shares of the company’s stock after purchasing an additional 9,139 shares during the period. Merit Financial Group LLC’s holdings in Elastic were worth $1,228,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in Elastic during the second quarter worth approximately $31,000. Huntington National Bank increased its holdings in shares of Elastic by 97.5% in the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 231 shares during the period. Plato Investment Management Ltd purchased a new stake in Elastic in the 2nd quarter valued at $40,000. Promus Capital LLC acquired a new stake in Elastic during the 2nd quarter worth $45,000. Finally, Allworth Financial LP grew its position in Elastic by 1,170.4% during the 2nd quarter. Allworth Financial LP now owns 686 shares of the company’s stock worth $58,000 after purchasing an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Up 2.4%

Elastic stock opened at $74.33 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97. Elastic N.V. has a 1-year low of $68.10 and a 1-year high of $118.84. The company has a market cap of $7.83 billion, a PE ratio of -72.17, a price-to-earnings-growth ratio of 287.78 and a beta of 0.92. The stock’s 50 day moving average price is $79.74 and its 200 day moving average price is $82.63.

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

Elastic announced that its board has approved a share buyback program on Thursday, October 9th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

ESTC has been the subject of a number of research reports. Canaccord Genuity Group reduced their target price on shares of Elastic from $120.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 21st. DA Davidson decreased their price objective on Elastic from $100.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Robert W. Baird lifted their target price on Elastic from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Piper Sandler cut their price target on Elastic from $125.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, November 21st. Finally, Citigroup lowered their price objective on shares of Elastic from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Seventeen equities 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 company. According to data from MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Insider Activity

In other Elastic news, insider Carolyn Herzog sold 5,353 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $401,742.65. Following the transaction, the insider directly owned 89,324 shares in the company, valued at approximately $6,703,766.20. This represents a 5.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $74.60, for a total transaction of $373,000.00. Following the completion of the transaction, the chief executive officer directly owned 426,901 shares of the company’s stock, valued at approximately $31,846,814.60. This trade represents a 1.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,891 shares of company stock valued at $4,654,707 in the last quarter. Insiders own 12.70% of the company’s stock.

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.