WCM Investment Management LLC Raises Stock Holdings in Elastic N.V. $ESTC

WCM Investment Management LLC boosted its holdings in Elastic N.V. (NYSE:ESTC) by 10.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,202 shares of the company’s stock after purchasing an additional 2,391 shares during the period. WCM Investment Management LLC’s holdings in Elastic were worth $2,167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ESTC. Massachusetts Financial Services Co. MA boosted its holdings in Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company’s stock valued at $203,872,000 after purchasing an additional 2,246,808 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Elastic by 6,651.3% during the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company’s stock worth $122,978,000 after buying an additional 1,383,065 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in Elastic by 1,450.8% during the 1st quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company’s stock worth $78,448,000 after buying an additional 823,680 shares during the last quarter. Shannon River Fund Management LLC bought a new position in Elastic during the 1st quarter worth approximately $31,981,000. Finally, RGM Capital LLC lifted its holdings in Elastic by 38.1% during the 1st quarter. RGM Capital LLC now owns 1,197,030 shares of the company’s stock worth $106,655,000 after buying an additional 330,290 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In other news, CAO Jane E. Bone sold 1,250 shares of Elastic stock in a transaction on Monday, October 13th. The stock was sold at an average price of $87.22, for a total transaction of $109,025.00. Following the transaction, the chief accounting officer directly owned 37,633 shares in the company, valued at approximately $3,282,350.26. This trade represents a 3.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ken Exner sold 6,290 shares of Elastic stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $566,854.80. Following the transaction, the insider owned 233,582 shares in the company, valued at approximately $21,050,409.84. This trade represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 352,042 shares of company stock worth $31,087,394 over the last quarter. Insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ESTC shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Elastic in a report on Friday, August 29th. Morgan Stanley increased their target price on Elastic from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Wells Fargo & Company initiated coverage on Elastic in a report on Tuesday, September 30th. They set an “equal weight” rating and a $90.00 target price on the stock. Scotiabank set a $90.00 price target on Elastic and gave the stock a “sector perform” rating in a report on Monday, October 6th. Finally, Cowen reissued a “hold” rating on shares of Elastic in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $119.00.

Elastic Stock Up 0.3%

ESTC opened at $80.47 on Friday. Elastic N.V. has a 12 month low of $70.14 and a 12 month 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 has a market cap of $8.55 billion, a P/E ratio of -100.59 and a beta of 1.05. The stock’s 50 day moving average price is $83.60 and its 200 day moving average price is $84.25.

Elastic (NYSE:ESTC) last posted its earnings results 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 during the quarter, compared to analyst estimates of $397.13 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’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, research analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic declared that its Board of Directors has initiated 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 purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.