Citigroup Inc. Boosts Stake in Elastic N.V. $ESTC

Citigroup Inc. lifted its holdings in shares of Elastic N.V. (NYSE:ESTC) by 89.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,357 shares of the company’s stock after purchasing an additional 42,087 shares during the quarter. Citigroup Inc. owned about 0.08% of Elastic worth $7,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Northwestern Mutual Wealth Management Co. raised its holdings in Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after buying an additional 171 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Elastic by 6.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,020 shares of the company’s stock valued at $260,000 after acquiring an additional 194 shares during the period. California State Teachers Retirement System raised its stake in shares of Elastic by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after acquiring an additional 219 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Elastic by 3.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 7,321 shares of the company’s stock worth $617,000 after acquiring an additional 226 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Elastic by 97.5% during the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 231 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic News Summary

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Company beat revenue expectations and reported 18% year‑over‑year revenue growth; management emphasized AI expansion and subscription growth, which supports longer‑term demand assumptions. Elastic Reports Third Quarter Fiscal 2026 Financial Results
• Positive Sentiment: Management raised forward guidance sharply: FY26 and Q4 EPS guidance well above Street consensus and revenue guidance roughly in line — a sign the company expects stronger profitability going forward (this is a bullish catalyst if execution continues). Elastic Reports Third Quarter Fiscal 2026 Financial Results
• Neutral Sentiment: Detailed materials and call transcripts were published (earnings deck and conference call transcripts) — useful for investors who want to dig into non‑GAAP vs GAAP items, margin drivers, and AI product commentary. Q3 2026 Earnings Call Transcript
• Negative Sentiment: Market reaction focused on an apparent earnings/methodology gap: some reports showed adjusted profits above estimates while GAAP/other EPS metrics missed — this disconnect likely triggered selling despite the revenue beat. Elastic Q3 Results and Transcript (MarketBeat)
• Negative Sentiment: Multiple sell‑side firms cut price targets this morning (Canaccord, Wells Fargo, Truist, Piper Sandler, Oppenheimer, Barclays), reducing near‑term analyst support and dragging sentiment lower. The coordinated downgrades are a primary driver of the intraday selloff. Analyst price target updates (Benzinga)
• Negative Sentiment: News coverage highlights that shares fell sharply despite beating revenue estimates — suggesting investors are focused on margins, EPS presentation, and the quick profit‑taking after recent gains. Elastic shares tumble despite beating third quarter estimates

Insider Activity at Elastic

In related news, CFO Navam Welihinda sold 1,046 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $74.51, for a total transaction of $77,937.46. Following the completion of the sale, the chief financial officer owned 123,874 shares in the company, valued at $9,229,851.74. The trade was a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $74.60, for a total value 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 $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 sold 61,828 shares of company stock worth $4,641,010 over the last three months. Company insiders own 12.70% of the company’s stock.

Elastic Stock Down 15.5%

Shares of Elastic stock opened at $52.04 on Monday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. Elastic N.V. has a 52-week low of $49.90 and a 52-week high of $117.49. The company has a market capitalization of $5.48 billion, a P/E ratio of -65.05, a P/E/G ratio of 211.81 and a beta of 0.98. The company has a 50 day moving average of $68.42 and a 200 day moving average of $77.86.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. The business had revenue of $449.88 million for the quarter, compared to analyst estimates of $438.37 million. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.25%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, research analysts forecast that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ESTC. Piper Sandler cut their target price on Elastic from $110.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday. Wells Fargo & Company decreased their target price on Elastic from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday. Truist Financial dropped their target price on Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Friday. Cantor Fitzgerald cut their price target on shares of Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Finally, Oppenheimer lowered their price objective on shares of Elastic from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday. Seventeen 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.17.

Elastic 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.