Legal & General Group Plc Acquires 43,946 Shares of Elastic N.V. $ESTC

Legal & General Group Plc boosted its holdings in Elastic N.V. (NYSE:ESTC) by 18.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,319 shares of the company’s stock after buying an additional 43,946 shares during the period. Legal & General Group Plc owned approximately 0.26% of Elastic worth $23,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ESTC. Cetera Investment Advisers grew its position in shares of Elastic by 10.1% in the first quarter. Cetera Investment Advisers now owns 7,929 shares of the company’s stock valued at $706,000 after purchasing an additional 726 shares in the last quarter. Assetmark Inc. boosted its stake in Elastic by 66.6% in the 1st quarter. Assetmark Inc. now owns 13,721 shares of the company’s stock worth $1,223,000 after purchasing an additional 5,487 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Elastic by 1.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,446 shares of the company’s stock valued at $3,515,000 after buying an additional 491 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Elastic during the first quarter valued at about $291,000. Finally, XTX Topco Ltd increased its position in shares of Elastic by 246.0% during the first quarter. XTX Topco Ltd now owns 14,487 shares of the company’s stock valued at $1,291,000 after buying an additional 10,300 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

NYSE ESTC opened at $69.85 on Friday. Elastic N.V. has a 52-week low of $68.10 and a 52-week high of $118.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.09 and a current ratio of 1.97. The company has a market capitalization of $7.36 billion, a P/E ratio of -67.82 and a beta of 1.04. The company has a fifty day moving average of $85.01 and a 200-day moving average of $85.05.

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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada cut their price objective on shares of Elastic from $125.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Stifel Nicolaus cut their price target on shares of Elastic from $134.00 to $108.00 and set a “buy” rating for the company in a report on Friday, November 21st. Weiss Ratings restated a “sell (d)” rating on shares of Elastic in a research report on Wednesday, October 8th. DA Davidson lowered their price objective on Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Finally, Cowen reissued a “hold” rating on shares of Elastic in a research note on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $107.25.

Insider Activity at Elastic

In related news, insider Carolyn Herzog sold 5,143 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 19,622 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $1,768,334.64. Following the completion of the sale, the chief executive officer directly owned 457,314 shares of the company’s stock, valued at approximately $41,213,137.68. This represents a 4.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 352,042 shares of company stock worth $31,087,394 in the last quarter. 12.70% of the stock is 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.