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

Engineers Gate Manager LP grew its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 43.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,697 shares of the company's stock after buying an additional 39,468 shares during the period. Engineers Gate Manager LP owned 0.12% of Elastic worth $7,395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ESTC. Orion Porfolio Solutions LLC lifted its position in Elastic by 1.4% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company's stock worth $726,000 after acquiring an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Elastic by 17.3% in the second 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 last quarter. Public Employees Retirement System of Ohio boosted its position in Elastic by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company's stock valued at $2,393,000 after buying an additional 175 shares during the last quarter. California State Teachers Retirement System increased its holdings in Elastic by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company's stock worth $7,033,000 after buying an additional 219 shares during the period. Finally, 180 Wealth Advisors LLC increased its holdings in Elastic by 4.6% in the 2nd quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company's stock worth $344,000 after buying an additional 263 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.

Insiders Place Their Bets

In other Elastic news, CRO Mark Dodds sold 9,673 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The stock was 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 of the company's stock, valued at approximately $25,327,865.64. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $93.67, for a total value of $936,700.00. Following the completion of the sale, the insider owned 118,439 shares of the company's stock, valued at $11,094,181.13. This trade represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 991,434 shares of company stock worth $91,303,286. Company insiders own 12.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on ESTC shares. Rosenblatt Securities restated a "buy" rating and set a $83.00 price objective on shares of Elastic in a research note on Wednesday, August 26th. Truist Financial raised their target price on shares of Elastic from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Wedbush assumed coverage on shares of Elastic in a research report on Friday. They set an "outperform" rating and a $125.00 target price for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Elastic in a report on Friday, August 28th. Finally, UBS Group increased their price target on Elastic from $85.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.52.

Elastic Trading Down 0.0%

Shares of Elastic stock opened at $83.44 on Friday. The firm has a 50-day simple moving average of $74.79 and a two-hundred day simple moving average of $61.07. The company has a market cap of $8.76 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 8.09 and a beta of 1.03. Elastic N.V. has a fifty-two week low of $42.05 and a fifty-two week high of $108.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81.

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

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