Brighton Jones LLC Acquires Shares of 7,566 Elastic N.V. $ESTC

Brighton Jones LLC bought a new position in Elastic N.V. (NYSE:ESTC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 7,566 shares of the company’s stock, valued at approximately $638,000.

Several other institutional investors have also recently 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 worth $203,872,000 after acquiring an additional 2,246,808 shares during the last quarter. AQR Capital Management LLC lifted its holdings 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 acquiring an additional 1,383,065 shares during the last quarter. RGM Capital LLC lifted its holdings 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 acquiring an additional 330,290 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings 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 acquiring an additional 823,680 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Elastic by 32.6% in 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 last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In other news, CFO Navam Welihinda sold 1,256 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $84.58, for a total transaction of $106,232.48. Following the completion of the sale, the chief financial officer owned 129,247 shares of the company’s stock, valued at $10,931,711.26. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s 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 directly owned 452,314 shares of the company’s stock, valued at $39,857,909.68. The trade was a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 352,042 shares of company stock worth $31,087,394 in the last 90 days. 12.70% of the stock is owned by insiders.

Elastic Stock Down 1.6%

ESTC stock opened at $87.23 on Wednesday. The firm has a 50 day moving average of $85.25 and a 200 day moving average of $84.60. The stock has a market capitalization of $9.27 billion, a PE ratio of -109.04 and a beta of 1.05. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. Elastic N.V. has a 52 week low of $70.14 and a 52 week high of $118.84.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 business had revenue of $415.29 million for the quarter, compared to analyst estimates of $397.13 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The business’s revenue was up 19.5% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. Sell-side analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 9th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ESTC has been the topic of several recent analyst reports. Jefferies Financial Group raised their price target on shares of Elastic from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Wells Fargo & Company initiated coverage on shares of Elastic in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $90.00 price target on the stock. Robert W. Baird raised their price target on shares of Elastic from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elastic in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group raised their target price on shares of Elastic from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 29th. One 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. According to MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and a consensus target price of $119.00.

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.