Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Elastic N.V. $ESTC

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Elastic N.V. (NYSE:ESTC) by 972.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 591,015 shares of the company’s stock after buying an additional 535,927 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.56% of Elastic worth $49,840,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ESTC. Los Angeles Capital Management LLC grew its position in Elastic by 3.2% during the second quarter. Los Angeles Capital Management LLC now owns 7,321 shares of the company’s stock valued at $617,000 after acquiring an additional 226 shares during the last quarter. Titan Global Capital Management USA LLC grew its holdings in shares of Elastic by 10.3% during the 2nd quarter. Titan Global Capital Management USA LLC now owns 27,714 shares of the company’s stock valued at $2,337,000 after purchasing an additional 2,590 shares during the last quarter. Fox Run Management L.L.C. raised its position in Elastic by 185.7% in the 2nd quarter. Fox Run Management L.L.C. now owns 25,222 shares of the company’s stock worth $2,127,000 after purchasing an additional 16,393 shares during the period. Penserra Capital Management LLC raised its position in Elastic by 52.2% in the 2nd quarter. Penserra Capital Management LLC now owns 232,518 shares of the company’s stock worth $19,608,000 after purchasing an additional 79,755 shares during the period. Finally, Savant Capital LLC lifted its stake in Elastic by 37.4% in the second quarter. Savant Capital LLC now owns 102,708 shares of the company’s stock worth $8,661,000 after purchasing an additional 27,949 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

NYSE ESTC opened at $89.95 on Friday. The company has a 50-day moving average price of $86.43 and a 200-day moving average price of $85.17. Elastic N.V. has a 52 week low of $70.14 and a 52 week high of $118.84. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $9.56 billion, a P/E ratio of -112.44 and a beta of 1.04.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.50). Elastic had a negative return on equity of 1.68% and a negative net margin of 5.38%.The business had revenue of $415.29 million during the quarter, compared to analysts’ expectations of $397.13 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s quarterly 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. Equities research analysts anticipate that Elastic N.V. will post -0.77 earnings per share for the current year.

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

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 5,143 shares of Elastic stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $463,487.16. Following the transaction, the insider directly owned 94,677 shares in the company, valued at approximately $8,532,291.24. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 104,326 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.34, for a total value of $9,424,810.84. Following the completion of the sale, the chief technology officer owned 4,363,780 shares of the company’s stock, valued at approximately $394,223,885.20. The trade was a 2.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 352,042 shares of company stock worth $31,087,394 in the last quarter. Company insiders own 12.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ESTC. Stifel Nicolaus lifted their price objective on Elastic from $112.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, August 29th. DA Davidson initiated coverage on Elastic in a research report on Friday, August 29th. They set a “neutral” rating and a $105.00 price target on the stock. Wall Street Zen upgraded shares of Elastic from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Wells Fargo & Company assumed coverage on shares of Elastic in a research report on Tuesday, September 30th. They issued an “equal weight” rating and a $90.00 target price for the company. Finally, Citigroup reiterated a “buy” rating on shares of Elastic in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Elastic Company 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.