Meritage Portfolio Management Purchases Shares of 8,193 Elastic N.V. $ESTC

Meritage Portfolio Management bought a new position in Elastic N.V. (NYSE:ESTC) in the 2nd quarter, Holdings Channel.com reports. The fund bought 8,193 shares of the company’s stock, valued at approximately $691,000.

Several other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in 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 buying an additional 2,246,808 shares during the period. AQR Capital Management LLC grew its position in shares of Elastic by 6,651.3% during the first quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company’s stock worth $122,978,000 after purchasing an additional 1,383,065 shares in the last quarter. RGM Capital LLC grew its position in shares of Elastic by 38.1% during the first quarter. RGM Capital LLC now owns 1,197,030 shares of the company’s stock worth $106,655,000 after purchasing an additional 330,290 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Elastic by 1,450.8% during the first quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company’s stock valued at $78,448,000 after buying an additional 823,680 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Elastic by 32.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 616,133 shares of the company’s stock valued at $54,897,000 after buying an additional 151,551 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Elastic from $106.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Cowen reiterated a “hold” rating on shares of Elastic in a research note on Friday, August 29th. Robert W. Baird increased their price target on Elastic from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday. Mizuho increased their price target on Elastic from $100.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Finally, DA Davidson started coverage on shares of Elastic in a report on Friday, August 29th. They issued a “neutral” rating and a $105.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nineteen 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 data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $119.00.

Insider Activity

In related news, CTO Shay Banon sold 104,326 shares of Elastic stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.34, for a total transaction of $9,424,810.84. Following the completion of the transaction, the chief technology officer directly owned 4,363,780 shares of the company’s stock, valued at approximately $394,223,885.20. The trade was a 2.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 5,143 shares of Elastic stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $463,487.16. Following the transaction, the insider directly owned 94,677 shares of the company’s stock, valued at approximately $8,532,291.24. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 350,792 shares of company stock worth $30,978,369 in the last 90 days. Company insiders own 12.70% of the company’s stock.

Elastic Trading Up 6.1%

Shares of ESTC stock opened at $86.52 on Monday. Elastic N.V. has a 1 year low of $70.14 and a 1 year high of $118.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09. The stock’s 50 day simple moving average is $83.40 and its two-hundred day simple moving average is $84.40. The company has a market cap of $9.19 billion, a PE ratio of -108.15 and a beta of 1.05.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.50). The company had revenue of $415.29 million for the quarter, compared to analysts’ expectations of $397.13 million. Elastic had a negative net margin of 5.38% and a negative return on equity of 1.68%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. Research analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic declared that its board has approved a share repurchase plan on Thursday, October 9th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Elastic 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.