New York State Common Retirement Fund Lowers Holdings in Elastic N.V. $ESTC

New York State Common Retirement Fund reduced its holdings in shares of Elastic N.V. (NYSE:ESTC) by 31.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,663 shares of the company’s stock after selling 61,130 shares during the period. New York State Common Retirement Fund owned about 0.13% of Elastic worth $11,293,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd grew its position in shares of Elastic by 302.1% during the second quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company’s stock worth $78,649,000 after buying an additional 700,697 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Elastic by 305.9% in the second quarter. BNP Paribas Financial Markets now owns 832,353 shares of the company’s stock worth $70,192,000 after acquiring an additional 627,284 shares during the last quarter. Temasek Holdings Private Ltd acquired a new position in Elastic during the 2nd quarter worth approximately $48,115,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Elastic by 972.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 591,015 shares of the company’s stock valued at $49,840,000 after purchasing an additional 535,927 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Elastic by 30.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,832,215 shares of the company’s stock valued at $153,100,000 after purchasing an additional 428,356 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. UBS Group dropped their target price on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Wedbush dropped their price objective on Elastic from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Wall Street Zen upgraded Elastic from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Cantor Fitzgerald lowered their price target on Elastic from $94.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Finally, DA Davidson dropped their price target on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average price target of $104.88.

Elastic Trading Down 8.4%

ESTC opened at $59.99 on Wednesday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. Elastic N.V. has a 52 week low of $58.74 and a 52 week high of $118.84. The business’s 50 day moving average is $73.78 and its two-hundred day moving average is $80.77. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of -58.24, a price-to-earnings-growth ratio of 266.36 and a beta of 0.93.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. The business had revenue of $423.48 million for the quarter, compared to analyst estimates of $418.27 million. During the same period last year, the firm posted $0.59 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, research analysts predict that Elastic N.V. will post -0.77 EPS for the current year.

Elastic declared that its Board of Directors has initiated a stock repurchase plan 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. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Elastic

In related news, CAO Jane E. Bone sold 1,187 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $80.31, for a total transaction of $95,327.97. Following the transaction, the chief accounting officer owned 43,171 shares of the company’s stock, valued at $3,467,063.01. This trade represents a 2.68% 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 Ken Exner sold 6,544 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $491,127.20. Following the sale, the insider directly owned 227,038 shares of the company’s stock, valued at approximately $17,039,201.90. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 61,828 shares of company stock valued at $4,641,010. Corporate insiders own 12.70% of the company’s stock.

Elastic Company 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.