Pursue Wealth Partners LLC Makes New Investment in Elastic N.V. $ESTC

Pursue Wealth Partners LLC purchased a new stake in Elastic N.V. (NYSE:ESTC) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,289 shares of the company’s stock, valued at approximately $700,000.

Several other hedge funds also recently made changes to their positions in ESTC. Qube Research & Technologies Ltd lifted its stake in Elastic by 302.1% during the second quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company’s stock valued at $78,649,000 after purchasing an additional 700,697 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Elastic by 305.9% in the second quarter. BNP Paribas Financial Markets now owns 832,353 shares of the company’s stock valued at $70,192,000 after buying an additional 627,284 shares in the last quarter. Temasek Holdings Private Ltd acquired a new stake in shares of Elastic during the 2nd quarter valued at $48,115,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Elastic by 972.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 591,015 shares of the company’s stock worth $49,840,000 after acquiring an additional 535,927 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Elastic by 30.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,832,215 shares of the company’s stock worth $153,100,000 after acquiring an additional 428,356 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Activity

In other Elastic news, CAO Jane E. Bone sold 1,187 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $80.31, for a total value of $95,327.97. Following the transaction, the chief accounting officer directly owned 43,171 shares of the company’s stock, valued at $3,467,063.01. This represents a 2.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $74.60, for a total value of $373,000.00. Following the sale, the chief executive officer directly owned 426,901 shares of the company’s stock, valued at $31,846,814.60. This trade represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,828 shares of company stock valued at $4,641,010. 12.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ESTC has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elastic in a report on Wednesday, January 21st. Royal Bank Of Canada reduced their price objective on shares of Elastic from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Stifel Nicolaus decreased their target price 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. Rosenblatt Securities cut their price target 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. Finally, Wells Fargo & Company reduced their price target on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Elastic presently has an average rating of “Moderate Buy” and an average target price of $104.88.

Elastic Stock Performance

ESTC stock opened at $61.55 on Friday. The firm has a 50 day simple moving average of $71.94 and a 200 day simple moving average of $79.28. Elastic N.V. has a 52 week low of $56.69 and a 52 week high of $118.46. The stock has a market cap of $6.49 billion, a P/E ratio of -59.75, a P/E/G ratio of 250.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97.

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

Elastic 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.