Elastic N.V. $ESTC Shares Acquired by Engineers Gate Manager LP

Engineers Gate Manager LP grew its position in Elastic N.V. (NYSE:ESTC) by 43.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 129,697 shares of the company’s stock after buying an additional 39,468 shares during the quarter. Engineers Gate Manager LP’s holdings in Elastic were worth $7,395,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Squarepoint Ops LLC raised its stake in Elastic by 1,139.5% in the 2nd quarter. Squarepoint Ops LLC now owns 97,798 shares of the company’s stock valued at $5,576,000 after purchasing an additional 89,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Elastic during the 2nd quarter worth $319,000. California State Teachers Retirement System grew its holdings in shares of Elastic by 5,082.4% during the second quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock worth $309,031,000 after buying an additional 5,315,115 shares in the last quarter. Syon Capital LLC purchased a new stake in shares of Elastic during the second quarter worth $3,300,000. Finally, denkapparat Operations GmbH acquired a new stake in shares of Elastic in the second quarter valued at about $322,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic introduced Elasticsearch Vector Database, a serverless offering designed for large-scale vector search and artificial-intelligence applications. The product is intended to simplify deployment, support hundreds of billions of vectors and strengthen Elastic’s position in the growing AI-search market. Elastic Introduces Serverless Vector Database
• Positive Sentiment: Wedbush began coverage with an “outperform” rating and a $125 price target, implying substantial upside from the recent trading level. The recommendation reflects optimism about Elastic’s AI, search and cloud growth opportunities.
• Positive Sentiment: Short interest dropped 39% between mid-August and August 31 to 3.87 million shares, or roughly 4.2% of shares outstanding. Reduced bearish positioning and only 1.1 days of short-interest coverage could provide technical support and limit short-selling pressure.
• Neutral Sentiment: Elastic’s latest quarterly results were strong, with $0.70 in adjusted EPS versus the $0.58 consensus and revenue of $478.1 million versus $469.8 million expected. Revenue grew 15.2% year over year, and fiscal 2027 EPS guidance was set at $3.29 to $3.37; however, these results were reported previously and may already be reflected in the stock’s valuation.
• Negative Sentiment: Several executives, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CRO Mark Dodds and CAO Jane Bone, sold shares on September 9. The sales totaled about 54,888 shares and $4.8 million, but were made to cover tax withholding on vested equity awards, making them less concerning than discretionary selling.
• Negative Sentiment: Repeated insider selling following a strong rally could still weigh on sentiment, particularly as investors assess whether the company’s AI-driven growth can justify its elevated valuation.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 29,227 shares of Elastic stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total value of $2,565,546.06. Following the completion of the sale, the chief executive officer owned 599,525 shares in the company, valued at approximately $52,626,304.50. This trade represents a 4.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Mark Dodds sold 9,673 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total value of $849,095.94. Following the completion of the sale, the executive directly owned 288,538 shares in the company, valued at approximately $25,327,865.64. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 991,434 shares of company stock worth $91,303,286. Company insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

ESTC has been the topic of several research reports. Wells Fargo & Company raised their price target on shares of Elastic from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 25th. Royal Bank Of Canada upped their price objective on shares of Elastic from $70.00 to $87.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Zacks Research upgraded shares of Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. Guggenheim raised their target price on shares of Elastic from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.52.

Elastic Trading Down 0.0%

NYSE ESTC opened at $83.44 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a market capitalization of $8.76 billion, a P/E ratio of 23.37, a PEG ratio of 8.09 and a beta of 1.03. The firm’s 50-day moving average is $74.79 and its two-hundred day moving average is $61.07. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $108.00.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. The business had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, sell-side analysts anticipate that Elastic N.V. will post 0.56 earnings per share for the current year.

Elastic Company Profile

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.