Elastic N.V. $ESTC Shares Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its stake in Elastic by 735.5%, buying an additional 38,982 shares to hold 44,282 shares worth about $3.74 million per its latest SEC filing.
• Elastic beat quarterly estimates—EPS $0.73 vs. $0.64 expected and revenue $449.9M (+17.7% YoY)—yet the stock trades around $51.64 (market cap ~$5.34B) and carries a consensus "Moderate Buy" rating with an average target of $95.25.
• Insider selling continued, with CEO Ashutosh Kulkarni selling 17,756 shares and the CRO 3,723 shares on March 9; insiders have sold 44,375 shares in the past 90 days and own 12.7% of the company.

Entropy Technologies LP raised its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 735.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,282 shares of the company's stock after purchasing an additional 38,982 shares during the quarter. Entropy Technologies LP's holdings in Elastic were worth $3,741,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ESTC. AXQ Capital LP purchased a new position in Elastic during the second quarter worth about $419,000. Geode Capital Management LLC raised its stake in shares of Elastic by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company's stock valued at $132,384,000 after acquiring an additional 54,812 shares during the period. Mackenzie Financial Corp raised its stake in shares of Elastic by 622.2% in the 2nd quarter. Mackenzie Financial Corp now owns 77,005 shares of the company's stock valued at $6,494,000 after acquiring an additional 66,342 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of Elastic by 102.3% in the 2nd quarter. Panagora Asset Management Inc. now owns 464,268 shares of the company's stock worth $39,152,000 after acquiring an additional 234,735 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Elastic by 89.0% in the 3rd quarter. Citigroup Inc. now owns 89,357 shares of the company's stock worth $7,550,000 after acquiring an additional 42,087 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Stock Down 2.3%

Elastic stock opened at $51.64 on Friday. The firm has a market capitalization of $5.34 billion, a P/E ratio of -64.54, a P/E/G ratio of 67.90 and a beta of 0.98. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.72. Elastic N.V. has a twelve month low of $49.90 and a twelve month high of $103.79. The stock's fifty day simple moving average is $64.08 and its 200-day simple moving average is $76.29.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The firm had revenue of $449.88 million during the quarter, compared to analysts' expectations of $438.37 million. During the same period in the previous year, the firm posted $0.63 EPS. Elastic's revenue for the quarter was up 17.7% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, equities analysts expect that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ESTC shares. UBS Group dropped their target price on shares of Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a report on Friday, November 21st. TD Cowen restated a "hold" rating on shares of Elastic in a research note on Monday, February 23rd. Piper Sandler lowered their price target on Elastic from $110.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, February 27th. Monness Crespi & Hardt cut Elastic from a "buy" rating to a "neutral" rating in a research note on Friday, November 21st. Finally, Morgan Stanley cut their price objective on Elastic from $80.00 to $73.00 and set an "overweight" rating on the stock in a report on Monday, March 2nd. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Elastic currently has an average rating of "Moderate Buy" and an average target price of $95.25.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 17,756 shares of Elastic stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $928,283.68. Following the completion of the transaction, the chief executive officer owned 409,145 shares in the company, valued at $21,390,100.60. The trade was a 4.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Mark Eugene Dodds sold 3,723 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $194,638.44. Following the transaction, the executive owned 152,563 shares of the company's stock, valued at $7,975,993.64. This trade represents a 2.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 44,375 shares of company stock valued at $2,464,797. 12.70% of the stock is currently owned by company insiders.

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.

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