Titan Global Capital Management USA LLC Grows Stock Holdings in Elastic N.V. $ESTC

Titan Global Capital Management USA LLC boosted its stake in shares of Elastic N.V. (NYSE:ESTC) by 10.3% in the second quarter, Holdings Channel reports. The institutional investor owned 27,714 shares of the company’s stock after purchasing an additional 2,590 shares during the period. Titan Global Capital Management USA LLC’s holdings in Elastic were worth $2,337,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its stake in shares of Elastic by 26.6% in the first quarter. Teacher Retirement System of Texas now owns 18,130 shares of the company’s stock worth $1,615,000 after acquiring an additional 3,813 shares during the last quarter. Principal Financial Group Inc. increased its stake in Elastic by 666.7% during the 1st quarter. Principal Financial Group Inc. now owns 55,959 shares of the company’s stock valued at $4,986,000 after purchasing an additional 48,660 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Elastic by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 504,823 shares of the company’s stock valued at $44,980,000 after purchasing an additional 22,005 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Elastic by 30.4% in the first quarter. Envestnet Asset Management Inc. now owns 31,743 shares of the company’s stock worth $2,828,000 after buying an additional 7,395 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Elastic in the first quarter worth approximately $77,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

NYSE ESTC opened at $89.95 on Friday. Elastic N.V. has a 1 year low of $70.14 and a 1 year high of $118.84. The stock’s fifty day moving average price is $86.43 and its 200 day moving average price is $85.11. 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 company has a market cap of $9.56 billion, a price-to-earnings ratio of -112.44 and a beta of 1.04.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.50). The business had revenue of $415.29 million during 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 firm’s revenue was up 19.5% on a year-over-year basis. During the same period 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. As a group, equities research analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic declared that its board has authorized a stock repurchase program on Thursday, October 9th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Elastic

In related news, insider Carolyn Herzog sold 5,143 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 94,677 shares of the company’s stock, valued at approximately $8,532,291.24. This represents a 5.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $88.12, for a total value of $440,600.00. Following the transaction, the chief executive officer directly owned 452,314 shares of the company’s stock, valued at approximately $39,857,909.68. The trade was a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 352,042 shares of company stock worth $31,087,394. 12.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ESTC shares. Cantor Fitzgerald reissued a “neutral” rating on shares of Elastic in a research report on Friday, August 29th. Canaccord Genuity Group boosted their target price on Elastic from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Citigroup restated a “buy” rating on shares of Elastic in a research note on Friday, October 10th. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research report on Friday, October 10th. Finally, Barclays lifted their price target on shares of Elastic from $105.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

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.