Elastic N.V. $ESTC Stake Raised by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its holdings in Elastic N.V. (NYSE:ESTC) by 1,139.5% during the 2nd quarter, Holdings Channel reports. The fund owned 97,798 shares of the company’s stock after acquiring an additional 89,908 shares during the quarter. Squarepoint Ops LLC’s holdings in Elastic were worth $5,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of ESTC. California State Teachers Retirement System increased its stake in Elastic by 5,082.4% during the 2nd quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock valued at $309,031,000 after buying an additional 5,315,115 shares during the period. AQR Capital Management LLC raised its stake in shares of Elastic by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after buying an additional 4,567,720 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock worth $131,356,000 after purchasing an additional 2,201,140 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Elastic by 43.2% in the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock valued at $324,550,000 after buying an additional 1,958,219 shares in the last quarter. Finally, FIL Ltd raised its position in shares of Elastic by 36.9% during the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after purchasing an additional 977,578 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Oppenheimer increased their target price on Elastic from $100.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Wall Street Zen cut shares of Elastic from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Royal Bank Of Canada increased their price objective on Elastic from $70.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research note on Friday, August 28th. Finally, DA Davidson upped their target price on Elastic from $60.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and an average price target of $96.52.

Insider Buying and Selling

In related news, CRO Mark Dodds sold 9,673 shares of the 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 sale, the executive directly owned 288,538 shares in the company, valued at $25,327,865.64. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 5,485 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total transaction of $481,473.30. Following the completion of the sale, the insider owned 112,954 shares in the company, valued at approximately $9,915,102.12. This trade represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 991,434 shares of company stock worth $91,303,286 over the last quarter. Insiders own 12.70% of the company’s stock.

More Elastic News

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.

Elastic Price Performance

Shares of ESTC stock opened at $83.44 on Friday. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $108.00. The stock has a 50-day moving average price of $74.79 and a 200 day moving average price of $61.07. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 8.09 and a beta of 1.03.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.12. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. Elastic’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $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. Research analysts expect that Elastic N.V. will post 0.56 EPS for the current year.

Elastic 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.