Jackson Square Partners LLC Decreases Stock Holdings in Elastic N.V. $ESTC

Jackson Square Partners LLC reduced its position in Elastic N.V. (NYSE:ESTC) by 81.5% during the second quarter, Holdings Channel reports. The institutional investor owned 41,075 shares of the company’s stock after selling 180,880 shares during the quarter. Jackson Square Partners LLC’s holdings in Elastic were worth $3,464,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ESTC. Signaturefd LLC lifted its position in Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company’s stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in shares of Elastic by 0.5% during the first quarter. Y.D. More Investments Ltd now owns 29,742 shares of the company’s stock valued at $2,756,000 after acquiring an additional 145 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Elastic by 53.7% during the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock valued at $40,000 after acquiring an additional 152 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Elastic by 5.1% in the second quarter. Janney Montgomery Scott LLC now owns 3,997 shares of the company’s stock worth $337,000 after buying an additional 194 shares during the last quarter. Finally, Bangor Savings Bank increased its position in shares of Elastic by 1.2% in the 2nd quarter. Bangor Savings Bank now owns 16,739 shares of the company’s stock valued at $1,412,000 after acquiring an additional 205 shares during the period. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Up 3.9%

ESTC opened at $89.95 on Friday. Elastic N.V. has a twelve month low of $70.14 and a twelve month high of $118.84. The company has a 50-day moving average price of $86.43 and a 200 day moving average price of $85.11. 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 company has a market cap of $9.56 billion, a PE ratio of -112.44 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 the consensus estimate of $0.42 by ($0.50). The firm 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 business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last 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. Sell-side analysts expect that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Elastic declared that its board has approved a stock repurchase program on Thursday, October 9th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy 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.

Analyst Ratings Changes

A number of equities research analysts recently commented on ESTC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a report on Friday, October 10th. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Elastic in a report on Friday, August 29th. Citigroup restated a “buy” rating on shares of Elastic in a research note on Friday, October 10th. Royal Bank Of Canada lifted their target price on shares of Elastic from $106.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Finally, Stifel Nicolaus raised their price target on shares of Elastic from $112.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, August 29th. One investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.00.

Insiders Place Their Bets

In other news, insider Carolyn Herzog sold 5,143 shares of the company’s stock in a transaction that occurred on 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 sale, the insider directly owned 94,677 shares in the company, valued at $8,532,291.24. This represents 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 available at this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction 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 in the company, valued at $39,857,909.68. This trade represents a 1.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 352,042 shares of company stock valued at $31,087,394. Corporate insiders own 12.70% of the company’s stock.

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.