Bank of New York Mellon Corp Increases Stake in Elastic N.V. $ESTC

Bank of New York Mellon Corp grew its stake in shares of Elastic N.V. (NYSE:ESTC) by 5.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 533,451 shares of the company’s stock after buying an additional 28,628 shares during the period. Bank of New York Mellon Corp’s holdings in Elastic were worth $44,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Massachusetts Financial Services Co. MA grew its stake in Elastic by 5,437.6% during 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 acquiring an additional 2,246,808 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Elastic by 6,651.3% during the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company’s stock valued at $122,978,000 after purchasing an additional 1,383,065 shares during 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 valued at $106,655,000 after purchasing an additional 330,290 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Elastic by 1,450.8% in the first quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company’s stock worth $78,448,000 after purchasing an additional 823,680 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of Elastic by 32.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 616,133 shares of the company’s stock worth $54,897,000 after buying an additional 151,551 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Activity at Elastic

In other news, insider Ken Exner sold 6,290 shares of Elastic stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $566,854.80. Following the completion of the sale, the insider owned 233,582 shares of the company’s stock, valued at approximately $21,050,409.84. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jane E. Bone sold 1,250 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $87.22, for a total value of $109,025.00. Following the completion of 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 SEC filing for this sale provides additional information. Insiders have sold a total of 352,042 shares of company stock worth $31,087,394 over the last ninety days. 12.70% of the stock is currently owned by company insiders.

Elastic Price Performance

Shares of ESTC stock opened at $94.73 on Wednesday. The stock has a 50 day moving average price of $86.79 and a 200 day moving average price of $85.38. Elastic N.V. has a 52-week low of $70.14 and a 52-week high of $118.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The firm has a market capitalization of $10.07 billion, a P/E ratio of -118.41 and a beta of 1.04.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 1.68% and a negative net margin of 5.38%.The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. 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, sell-side analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic announced that its Board of Directors has authorized a stock buyback program on Thursday, October 9th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ESTC. Royal Bank Of Canada raised their price target on Elastic from $106.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Piper Sandler raised their target price on shares of Elastic from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Mizuho upped their price target on shares of Elastic from $100.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Guggenheim lifted their price objective on shares of Elastic from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Finally, Canaccord Genuity Group boosted their target price on shares of Elastic from $110.00 to $120.00 and gave the stock a “buy” rating 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 assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and an average target price of $119.00.

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.