Jackson Hole Capital Partners LLC Increases Position in Elastic N.V. $ESTC

Key Points

• Jackson Hole Capital Partners LLC increased its stake in Elastic N.V. by 26.0% during Q2, owning 27,534 shares valued at approximately $2,322,000.
• Several major hedge funds significantly boosted their holdings in Elastic, with Massachusetts Financial Services increasing its stake by 5,437.6% in Q1.
• Wall Street analysts generally hold a positive outlook on Elastic, with a consensus rating of "Moderate Buy" and an average target price of $119.00.

Jackson Hole Capital Partners LLC lifted its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 26.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,534 shares of the company's stock after buying an additional 5,689 shares during the period. Jackson Hole Capital Partners LLC's holdings in Elastic were worth $2,322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Massachusetts Financial Services Co. MA boosted its stake in shares of Elastic by 5,437.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after buying an additional 2,246,808 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Elastic by 6,651.3% in the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company's stock worth $122,978,000 after buying an additional 1,383,065 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Elastic by 1,450.8% in the 1st quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company's stock worth $78,448,000 after buying an additional 823,680 shares during the last quarter. Shannon River Fund Management LLC purchased a new position in shares of Elastic in the 1st quarter worth approximately $31,981,000. Finally, RGM Capital LLC boosted its stake in shares of Elastic by 38.1% in the 1st quarter. RGM Capital LLC now owns 1,197,030 shares of the company's stock worth $106,655,000 after buying an additional 330,290 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ESTC. Cantor Fitzgerald restated a "neutral" rating on shares of Elastic in a research note on Friday, August 29th. Stifel Nicolaus upped their price objective on Elastic from $112.00 to $134.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Scotiabank set a $90.00 price objective on Elastic and gave the company a "sector perform" rating in a research note on Monday, October 6th. Wall Street Zen upgraded Elastic from a "hold" rating to a "buy" rating in a research note on Saturday, October 11th. Finally, Monness Crespi & Hardt upped their price objective on Elastic from $111.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and an average target price of $119.00.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $88.12, for a total transaction of $440,600.00. Following the sale, the chief executive officer owned 452,314 shares in the company, valued at $39,857,909.68. This represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jane E. Bone sold 1,250 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $87.22, for a total value of $109,025.00. Following the sale, the chief accounting officer owned 37,633 shares in the company, valued at approximately $3,282,350.26. This represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 352,042 shares of company stock valued at $31,087,394. 12.70% of the stock is currently owned by corporate insiders.

Elastic Trading Up 1.2%

NYSE:ESTC opened at $87.10 on Friday. The company has a market cap of $9.26 billion, a P/E ratio of -108.87 and a beta of 1.05. The stock's fifty day moving average price is $84.64 and its two-hundred day moving average price is $84.31. Elastic N.V. has a 1 year low of $70.14 and a 1 year high of $118.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09.

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

Elastic declared that its board has authorized a stock repurchase program on Thursday, October 9th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Elastic Company Profile

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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