Cinctive Capital Management LP Makes New $13.61 Million Investment in Elastic N.V. $ESTC

Cinctive Capital Management LP purchased a new stake in shares of Elastic N.V. (NYSE:ESTC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 161,066 shares of the company’s stock, valued at approximately $13,608,000. Cinctive Capital Management LP owned about 0.15% of Elastic as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. AXQ Capital LP purchased a new stake in Elastic during the second quarter valued at approximately $419,000. Geode Capital Management LLC grew its holdings in Elastic by 3.6% in the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock worth $132,384,000 after purchasing an additional 54,812 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Elastic by 622.2% in the second quarter. Mackenzie Financial Corp now owns 77,005 shares of the company’s stock worth $6,494,000 after purchasing an additional 66,342 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Elastic by 102.3% during the second quarter. Panagora Asset Management Inc. now owns 464,268 shares of the company’s stock worth $39,152,000 after purchasing an additional 234,735 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Elastic by 50.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,279 shares of the company’s stock valued at $75,304,000 after purchasing an additional 300,264 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on ESTC shares. Barclays lowered their price objective on Elastic from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Piper Sandler reduced their target price on Elastic from $110.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Canaccord Genuity Group decreased their price target on Elastic from $115.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 27th. UBS Group lowered their price target on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 21st. Finally, Stifel Nicolaus cut their price objective on shares of Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Seventeen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and a consensus target price of $95.25.

Insider Activity at Elastic

In other Elastic news, CAO Jane E. Bone sold 887 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $46,372.36. Following the completion of the transaction, the chief accounting officer owned 42,284 shares in the company, valued at approximately $2,210,607.52. This represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carolyn Herzog sold 3,989 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $208,544.92. Following the sale, the insider directly owned 85,335 shares in the company, valued at approximately $4,461,313.80. The trade was a 4.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 44,375 shares of company stock valued at $2,464,797 in the last quarter. 12.70% of the stock is currently owned by insiders.

Elastic Trading Down 0.5%

Shares of NYSE:ESTC opened at $51.45 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.72. Elastic N.V. has a 12-month low of $49.90 and a 12-month high of $103.79. The business has a 50 day moving average of $63.66 and a two-hundred day moving average of $76.08. The company has a market capitalization of $5.33 billion, a PE ratio of -64.32, a PEG ratio of 66.16 and a beta of 0.98.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. The business had revenue of $449.88 million for the quarter, compared to analysts’ expectations of $438.37 million. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, analysts forecast that Elastic N.V. will post -0.77 EPS for the current year.

About Elastic

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.