Cinctive Capital Management LP Makes New Investment in Elastic N.V. $ESTC

Cinctive Capital Management LP acquired a new stake in Elastic N.V. (NYSE:ESTC) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 161,066 shares of the company’s stock, valued at approximately $13,608,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clearline Capital LP acquired a new position in shares of Elastic during the 3rd quarter worth approximately $1,631,000. California Public Employees Retirement System grew its stake in Elastic by 6.7% in the 3rd quarter. California Public Employees Retirement System now owns 163,654 shares of the company’s stock valued at $13,827,000 after acquiring an additional 10,305 shares during the period. Bank of America Corp DE grew its stake in Elastic by 38.8% in the 3rd quarter. Bank of America Corp DE now owns 1,449,967 shares of the company’s stock valued at $122,508,000 after acquiring an additional 405,096 shares during the period. Bank of Nova Scotia increased its holdings in Elastic by 54.2% in the 3rd quarter. Bank of Nova Scotia now owns 72,521 shares of the company’s stock worth $6,127,000 after acquiring an additional 25,489 shares in the last quarter. Finally, Alight Capital Management LP increased its holdings in Elastic by 140.0% in the 3rd quarter. Alight Capital Management LP now owns 120,000 shares of the company’s stock worth $10,139,000 after acquiring an additional 70,000 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Elastic news, insider Carolyn Herzog sold 3,989 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $208,544.92. Following the transaction, the insider directly owned 85,335 shares of the company’s stock, valued at $4,461,313.80. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ken Exner sold 4,310 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $225,326.80. Following the completion of the sale, the insider owned 222,728 shares of the company’s stock, valued at $11,644,219.84. This trade represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 44,375 shares of company stock worth $2,464,797 in the last 90 days. Corporate insiders own 12.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ESTC shares. Rosenblatt Securities decreased their price objective on shares of Elastic from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Barclays cut their target price on shares of Elastic from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Citigroup decreased their price target on shares of Elastic from $115.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Canaccord Genuity Group lowered their price objective on Elastic from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Guggenheim reiterated a “buy” rating and set a $116.00 price objective on shares of Elastic in a research note on Wednesday, February 18th. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.25.

Elastic Price Performance

Elastic stock opened at $51.45 on Friday. The company has a fifty day simple moving average of $63.66 and a 200-day simple moving average of $76.08. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of -64.32, a PEG ratio of 66.16 and a beta of 0.98. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. Elastic N.V. has a 52-week low of $49.90 and a 52-week high of $103.79.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. The firm had revenue of $449.88 million for the quarter, compared to the consensus estimate of $438.37 million. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. On average, equities analysts anticipate that Elastic N.V. will post -0.77 EPS for the current fiscal year.

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.