Wellington Management Group LLP Takes $41.89 Million Position in Elastic N.V. $ESTC

Wellington Management Group LLP purchased a new position in Elastic N.V. (NYSE:ESTC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 734,633 shares of the company’s stock, valued at approximately $41,889,000. Wellington Management Group LLP owned about 0.71% of Elastic at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. purchased a new stake in Elastic in the 2nd quarter valued at about $31,000. Bessemer Group Inc. purchased a new position in shares of Elastic during the first quarter worth approximately $25,000. Aster Capital Management DIFC Ltd raised its stake in shares of Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after acquiring an additional 371 shares in the last quarter. Basecamp Wealth Advisors LLC purchased a new stake in shares of Elastic in the first quarter valued at approximately $28,000. Finally, Quarry LP boosted its holdings in shares of Elastic by 16,200.0% in the fourth quarter. Quarry LP now owns 652 shares of the company’s stock valued at $49,000 after purchasing an additional 648 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic announced plans to integrate OpenAI GPT cyber models directly into Elastic Security. The models are intended to help security teams triage alerts, investigate threats, build detections and accelerate remediation without requiring customers to manage separate AI infrastructure. The partnership strengthens Elastic’s position in the fast-growing AI-powered cybersecurity market. Elastic Brings OpenAI GPT Cyber Models Into Elastic Security
• Positive Sentiment: The latest quarterly report provided a solid fundamental backdrop: adjusted earnings per share of $0.70 exceeded the $0.58 consensus estimate, while revenue of $478.11 million topped expectations of $469.75 million and increased 15.2% year over year. Fiscal 2027 earnings guidance of $3.29 to $3.37 per share and upward earnings-estimate revisions are supporting the bullish case. Can Elastic Run Higher on Rising Earnings Estimates?
• Neutral Sentiment: Analyst opinion remains mixed after the earnings-driven rally. UBS raised its price target to $105 and maintained a Buy rating, while DA Davidson and Bank of America kept Neutral ratings despite higher targets. The consensus rating is Moderate Buy, with an average price target of $94.12, suggesting limited upside at recent levels.
• Negative Sentiment: Several insiders sold shares following the rally. CTO Shay Banon sold 476,298 shares for approximately $44.5 million across August 31 through September 2, while other insiders sold additional shares. Although executives retain substantial holdings and sales may reflect profit-taking, the concentrated insider selling could weigh on sentiment and raise valuation concerns. Elastic Insider Sale Filings

Insider Activity

In other Elastic news, CRO Mark Dodds sold 18,439 shares of Elastic stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $1,117,587.79. Following the transaction, the executive directly owned 298,211 shares of the company’s stock, valued at approximately $18,074,568.71. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ashutosh Kulkarni sold 40,373 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $2,447,007.53. Following the transaction, the chief executive officer directly owned 628,752 shares in the company, valued at approximately $38,108,658.72. The trade was a 6.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 600,573 shares of company stock worth $52,492,868 over the last 90 days. 12.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on ESTC. Wall Street Zen downgraded Elastic from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Citigroup upped their target price on Elastic from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Morgan Stanley raised their price target on Elastic from $66.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 28th. Scotiabank lifted their price objective on Elastic from $58.00 to $84.00 and gave the company a “sector perform” rating in a report on Friday, August 28th. Finally, Barclays upped their price objective on shares of Elastic from $68.00 to $94.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, Elastic presently has an average rating of “Moderate Buy” and an average price target of $94.12.

Elastic Price Performance

Shares of ESTC stock opened at $96.27 on Friday. The stock’s 50-day moving average is $71.17 and its 200 day moving average is $59.94. Elastic N.V. has a 1-year low of $42.05 and a 1-year high of $108.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.68. The company has a market cap of $10.11 billion, a P/E ratio of 26.97, a PEG ratio of 8.68 and a beta of 1.03.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 27th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The firm’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company 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 predict that Elastic N.V. will post 0.56 earnings per share for the current fiscal year.

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.