Alamar Capital Management LLC Invests $2.33 Million in Elastic N.V. $ESTC

Key Points

• Alamar Capital Management LLC has invested approximately $2.33 million in Elastic N.V., acquiring 27,655 shares in the 2nd quarter.
• Institutional investors collectively own 97.03% of Elastic's stock, with recent purchases including a 55.7% increase by Liberty One Investment Management LLC.
• Analysts have upgraded their price targets for Elastic, with Morgan Stanley and Barclays raising theirs to $120.00 and $125.00, respectively, while the stock is currently rated as a "Moderate Buy."

Alamar Capital Management LLC acquired a new position in shares of Elastic N.V. (NYSE:ESTC - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 27,655 shares of the company's stock, valued at approximately $2,332,000.

Several other institutional investors have also modified their holdings of the company. Smith Group Asset Management LLC lifted its position in shares of Elastic by 11.2% during the 2nd quarter. Smith Group Asset Management LLC now owns 31,700 shares of the company's stock worth $2,673,000 after purchasing an additional 3,200 shares during the last quarter. Liberty One Investment Management LLC lifted its position in shares of Elastic by 55.7% during the 2nd quarter. Liberty One Investment Management LLC now owns 2,682 shares of the company's stock worth $226,000 after purchasing an additional 959 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Elastic by 7.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 19,746 shares of the company's stock worth $1,637,000 after purchasing an additional 1,401 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Elastic during the 2nd quarter worth $295,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Elastic in the second quarter valued at $1,388,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Elastic from $115.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Barclays boosted their price target on shares of Elastic from $105.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Wells Fargo & Company assumed coverage on shares of Elastic in a research report on Tuesday, September 30th. They issued an "equal weight" rating and a $90.00 price target for the company. Weiss Ratings reissued a "sell (d)" rating on shares of Elastic in a research report on Wednesday, October 8th. Finally, Piper Sandler boosted their price target on shares of Elastic from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $119.00.

Insiders Place Their Bets

In related news, insider Ken Exner sold 6,290 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $566,854.80. Following the completion of the transaction, the insider directly owned 233,582 shares of the company's stock, valued at $21,050,409.84. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $88.12, for a total transaction of $440,600.00. Following the transaction, the chief executive officer directly owned 452,314 shares of the company's stock, valued at $39,857,909.68. This represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 352,042 shares of company stock valued at $31,087,394. 12.70% of the stock is owned by insiders.

Elastic Price Performance

Shares of NYSE:ESTC opened at $87.10 on Friday. The company has a 50-day simple moving average of $84.64 and a 200-day simple moving average of $84.31. Elastic N.V. has a one year low of $70.14 and a one year high of $118.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of -108.87 and a beta of 1.05.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.50). Elastic had a negative net margin of 5.38% and a negative return on equity of 1.68%. The business had revenue of $415.29 million during the quarter, compared to analysts' expectations of $397.13 million. During the same period in the previous year, the company posted $0.35 earnings per share. Elastic's quarterly revenue was up 19.5% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. On average, analysts predict that Elastic N.V. will post -0.77 EPS for the current year.

Elastic declared that its board has initiated a stock repurchase program on Thursday, October 9th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.

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