Elastic N.V. $ESTC Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its position in shares of Elastic N.V. (NYSE:ESTC) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,961 shares of the company’s stock after selling 324 shares during the period. QRG Capital Management Inc.’s holdings in Elastic were worth $250,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in Elastic during the 1st quarter worth about $25,000. Signaturefd LLC lifted its stake in Elastic by 53.7% during the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 117 shares in the last quarter. North Capital Inc. acquired a new position in Elastic during the 1st quarter worth about $37,000. Smartleaf Asset Management LLC lifted its stake in Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after acquiring an additional 152 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Elastic by 134.6% during the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company’s stock worth $51,000 after acquiring an additional 327 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Mizuho increased their target price on Elastic from $100.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Citigroup restated a “buy” rating on shares of Elastic in a report on Friday. Cantor Fitzgerald restated a “neutral” rating on shares of Elastic in a report on Friday, August 29th. Cowen restated a “hold” rating on shares of Elastic in a report on Friday, August 29th. Finally, UBS Group upped their price target on Elastic from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

Elastic Trading Up 6.1%

ESTC opened at $86.52 on Monday. Elastic N.V. has a one year low of $70.14 and a one year high of $118.84. The company has a market cap of $9.19 billion, a P/E ratio of -108.15 and a beta of 1.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The business’s 50-day simple moving average is $83.40 and its 200-day simple moving average is $84.40.

Elastic (NYSE:ESTC) last released its quarterly earnings data 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 business had revenue of $415.29 million during the quarter, compared to analysts’ expectations of $397.13 million. During the same quarter in the previous year, the company posted $0.35 EPS. The company’s 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. As a group, equities research analysts expect that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Elastic declared that its board has initiated a share repurchase program 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. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 104,326 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.34, for a total value of $9,424,810.84. Following the transaction, the chief technology officer owned 4,363,780 shares in the company, valued at approximately $394,223,885.20. This represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Mark Eugene Dodds sold 5,037 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $453,934.44. Following the completion of the transaction, the executive owned 167,284 shares in the company, valued at approximately $15,075,634.08. The trade was a 2.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 350,792 shares of company stock worth $30,978,369. 12.70% of the stock is currently owned by company 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.