Elastic N.V. $ESTC Stock Position Raised by Thematics Asset Management

Key Points

• Thematics Asset Management increased its stake in Elastic N.V. by 5.9% during Q1, owning approximately 424,780 shares valued at $37.8 million, making it the 7th largest holding in their portfolio.
• Multiple analysts have reduced their price targets for Elastic, with Scotiabank lowering it from $137 to $95 while maintaining a "sector outperform" rating, resulting in an average target of $110.60.
• Insider sales have occurred recently, with CEO Ashutosh Kulkarni selling 22,901 shares for nearly $2 million, representing a 4.79% decrease in his holdings, amidst a broader trend of insider transactions.

Thematics Asset Management lifted its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 424,780 shares of the company's stock after acquiring an additional 23,768 shares during the period. Elastic makes up approximately 1.9% of Thematics Asset Management's portfolio, making the stock its 7th biggest position. Thematics Asset Management owned approximately 0.41% of Elastic worth $37,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in Elastic by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 504,823 shares of the company's stock worth $44,980,000 after purchasing an additional 22,005 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Elastic by 13.3% during the 4th quarter. Cetera Investment Advisers now owns 7,203 shares of the company's stock worth $714,000 after buying an additional 843 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Elastic during the 1st quarter worth approximately $205,000. Teacher Retirement System of Texas grew its position in shares of Elastic by 26.6% during the 1st quarter. Teacher Retirement System of Texas now owns 18,130 shares of the company's stock worth $1,615,000 after buying an additional 3,813 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Elastic by 666.7% in the 1st quarter. Principal Financial Group Inc. now owns 55,959 shares of the company's stock valued at $4,986,000 after acquiring an additional 48,660 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ESTC shares. Barclays reduced their price target on shares of Elastic from $124.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Rosenblatt Securities reduced their target price on Elastic from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Cantor Fitzgerald decreased their target price on Elastic from $109.00 to $92.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Oppenheimer dropped their price target on Elastic from $120.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday, July 21st. Finally, Royal Bank Of Canada cut their price target on Elastic from $119.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.60.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 5,117 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the completion of the sale, the chief technology officer directly owned 4,560,291 shares of the company's stock, valued at $396,334,890.81. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Carolyn Herzog sold 5,702 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $495,560.82. Following the transaction, the insider directly owned 93,985 shares in the company, valued at $8,168,236.35. This represents a 5.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,913 shares of company stock worth $4,416,324 over the last 90 days. Corporate insiders own 15.90% of the company's stock.

Elastic Stock Up 5.7%

Shares of ESTC traded up $4.78 during trading hours on Thursday, reaching $88.08. 4,845,824 shares of the stock traded hands, compared to its average volume of 1,687,294. Elastic N.V. has a 52 week low of $69.00 and a 52 week high of $118.84. The company has a market cap of $9.30 billion, a price-to-earnings ratio of -83.88 and a beta of 1.07. The stock has a fifty day simple moving average of $82.58 and a 200 day simple moving average of $88.48. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly 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 7.29% and a negative return on equity of 4.46%. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. On average, equities analysts forecast that Elastic N.V. will post -0.77 EPS for the current year.

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.