Titan Global Capital Management USA LLC Trims Holdings in Elastic N.V. $ESTC

Key Points

• Titan Global Capital Management USA LLC reduced its stake in Elastic N.V. by 29.4%, owning 25,124 shares worth approximately $2.24 million after selling 10,465 shares.
• Institutional investors like Bank of New York Mellon Corp and Principal Financial Group Inc. significantly increased their positions, indicating strong institutional interest in Elastic.
• Several analysts have recently adjusted their price targets for Elastic, with a consensus target now set at $110.60 and a consensus rating of "Moderate Buy."

Titan Global Capital Management USA LLC trimmed its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 29.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 25,124 shares of the company's stock after selling 10,465 shares during the period. Titan Global Capital Management USA LLC's holdings in Elastic were worth $2,238,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Elastic by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 504,823 shares of the company's stock valued at $44,980,000 after acquiring an additional 22,005 shares during the period. Cetera Investment Advisers increased its stake in 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 during the period. Oppenheimer Asset Management Inc. purchased a new stake in Elastic during the 1st quarter worth approximately $205,000. Teacher Retirement System of Texas increased its stake in 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 Elastic by 666.7% during the 1st quarter. Principal Financial Group Inc. now owns 55,959 shares of the company's stock worth $4,986,000 after buying an additional 48,660 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Scotiabank cut their target price on shares of Elastic from $137.00 to $95.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 30th. UBS Group reiterated a "buy" rating and set a $95.00 price target (down previously from $148.00) on shares of Elastic in a report on Wednesday, August 13th. Wells Fargo & Company lowered their price target on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Monness Crespi & Hardt upgraded shares of Elastic from a "neutral" rating to a "buy" rating and set a $111.00 price target for the company in a report on Friday, June 27th. Finally, Guggenheim lowered their price target on shares of Elastic from $136.00 to $107.00 and set a "buy" rating for the company in a report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.60.

Elastic Trading Up 0.5%

Shares of Elastic stock opened at $77.4820 on Friday. The company has a fifty day simple moving average of $82.73 and a 200-day simple moving average of $89.43. Elastic N.V. has a 12-month low of $69.00 and a 12-month high of $118.84. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of -73.79 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.10. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The business had revenue of $388.43 million during the quarter, compared to analysts' expectations of $380.61 million. During the same quarter in the prior year, the business posted $0.21 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.240-2.32 EPS. Q1 2026 guidance at 0.410-0.43 EPS. On average, equities analysts forecast that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Insider Activity

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

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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