New York State Common Retirement Fund Trims Stock Position in Elastic N.V. $ESTC

New York State Common Retirement Fund lessened its position in shares of Elastic N.V. (NYSE:ESTC) by 9.7% during the second quarter, HoldingsChannel.com reports. The fund owned 194,793 shares of the company’s stock after selling 20,812 shares during the period. New York State Common Retirement Fund’s holdings in Elastic were worth $16,427,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Elastic by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock valued at $132,384,000 after acquiring an additional 54,812 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Elastic by 147.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 57,690 shares of the company’s stock worth $4,865,000 after purchasing an additional 34,336 shares during the last quarter. AXQ Capital LP purchased a new stake in Elastic in the second quarter valued at approximately $419,000. Acadian Asset Management LLC lifted its position in Elastic by 534.4% during the second quarter. Acadian Asset Management LLC now owns 128,651 shares of the company’s stock valued at $10,840,000 after purchasing an additional 108,372 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Elastic by 3.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 429,526 shares of the company’s stock valued at $38,271,000 after purchasing an additional 12,510 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

Elastic stock opened at $72.34 on Wednesday. The firm has a fifty day simple moving average of $83.99 and a two-hundred day simple moving average of $84.48. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. Elastic N.V. has a twelve month low of $68.10 and a twelve month high of $118.84. The company has a market capitalization of $7.62 billion, a PE ratio of -70.24 and a beta of 0.97.

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

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

Analyst Upgrades and Downgrades

ESTC has been the topic of a number of research analyst reports. Citigroup decreased their price target on shares of Elastic from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Barclays cut their target price on shares of Elastic from $125.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 target price on shares of Elastic in a research note on Wednesday, November 19th. Royal Bank Of Canada dropped their price target on Elastic from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Finally, Scotiabank cut their price objective on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a report on Friday, November 21st. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and an average price target of $107.25.

Insider Transactions at Elastic

In related news, CAO Jane E. Bone sold 1,250 shares of Elastic stock in a transaction on Monday, October 13th. The shares were sold at an average price of $87.22, for a total value of $109,025.00. Following the transaction, the chief accounting officer directly owned 37,633 shares of the company’s stock, valued at $3,282,350.26. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 104,326 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.34, for a total transaction of $9,424,810.84. Following the sale, the chief technology officer owned 4,363,780 shares of the company’s stock, valued at $394,223,885.20. This represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 352,042 shares of company stock valued at $31,087,394. Insiders own 12.70% of the company’s stock.

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.