TrueMark Investments LLC Trims Stake in Elastic N.V. $ESTC

TrueMark Investments LLC reduced its position in Elastic N.V. (NYSE:ESTC) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 18,132 shares of the company’s stock after selling 696 shares during the period. TrueMark Investments LLC’s holdings in Elastic were worth $1,529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings 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 valued at $203,872,000 after purchasing an additional 2,246,808 shares during the last quarter. AQR Capital Management LLC lifted its position in Elastic by 6,651.3% during the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company’s stock worth $122,978,000 after acquiring an additional 1,383,065 shares during the period. RGM Capital LLC lifted its position in Elastic by 38.1% during the 1st quarter. RGM Capital LLC now owns 1,197,030 shares of the company’s stock worth $106,655,000 after acquiring an additional 330,290 shares during the period. Driehaus Capital Management LLC lifted its position in Elastic by 1,450.8% during the 1st quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company’s stock worth $78,448,000 after acquiring an additional 823,680 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its position in Elastic by 32.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 616,133 shares of the company’s stock worth $54,897,000 after acquiring an additional 151,551 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, October 10th. Mizuho increased their price objective on Elastic from $100.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Jefferies Financial Group increased their price objective on Elastic from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Canaccord Genuity Group increased their price objective on Elastic from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, Guggenheim increased their price objective on Elastic from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $119.00.

Elastic Stock Performance

Shares of ESTC stock opened at $81.14 on Friday. The company has a market cap of $8.62 billion, a price-to-earnings ratio of -101.43 and a beta of 1.05. The stock has a 50 day simple moving average of $83.73 and a 200-day simple moving average of $84.12. Elastic N.V. has a 12-month low of $70.14 and a 12-month high of $118.84. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59.

Elastic (NYSE:ESTC) last announced its 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 5.38% and a negative return on equity of 1.68%. The company had revenue of $415.29 million for the quarter, compared to analyst estimates of $397.13 million. During the same quarter last year, the company posted $0.35 EPS. Elastic’s quarterly revenue was up 19.5% compared to the same quarter last year. 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.

Elastic declared that its board has approved a share repurchase program on Thursday, October 9th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Elastic

In other news, CAO Jane E. Bone sold 1,250 shares of the firm’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $87.22, for a total transaction of $109,025.00. Following the sale, the chief accounting officer owned 37,633 shares in the company, valued at $3,282,350.26. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Carolyn Herzog sold 5,143 shares of Elastic stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the transaction, the insider owned 94,677 shares in the company, valued at $8,532,291.24. The trade was a 5.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 352,042 shares of company stock valued at $31,087,394. 12.70% of the stock is currently owned by insiders.

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.