Panagora Asset Management Inc. Acquires 234,735 Shares of Elastic N.V. $ESTC

Panagora Asset Management Inc. boosted its stake in shares of Elastic N.V. (NYSE:ESTC) by 102.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 464,268 shares of the company’s stock after acquiring an additional 234,735 shares during the quarter. Panagora Asset Management Inc.’s holdings in Elastic were worth $39,152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its holdings in shares of Elastic by 0.5% in the 1st quarter. Y.D. More Investments Ltd now owns 29,742 shares of the company’s stock worth $2,756,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC raised its holdings in Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock valued at $40,000 after buying an additional 152 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Elastic by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after buying an additional 171 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Elastic by 5.1% during 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 period. Finally, Bangor Savings Bank boosted its stake in Elastic by 1.2% during the second quarter. Bangor Savings Bank now owns 16,739 shares of the company’s stock worth $1,412,000 after buying an additional 205 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Trading Up 0.7%

Shares of ESTC opened at $71.04 on Tuesday. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of -68.97 and a beta of 0.97. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97. Elastic N.V. has a 1-year low of $68.10 and a 1-year high of $118.84. The company has a 50-day moving average of $84.28 and a 200 day moving average of $84.62.

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

Elastic declared that its Board of Directors has initiated a stock buyback program on Thursday, October 9th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ESTC has been the topic of several recent analyst reports. Zacks Research downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Canaccord Genuity Group cut their price target on shares of Elastic from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Elastic in a research report on Wednesday, November 19th. Jefferies Financial Group decreased their price objective on shares of Elastic from $125.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Finally, Scotiabank cut their target price on Elastic from $90.00 to $76.00 and set a “sector perform” rating on the stock in a research note on Friday, November 21st. Seventeen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.25.

Insider Activity at Elastic

In other news, insider Ken Exner sold 6,290 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $566,854.80. Following the transaction, the insider owned 233,582 shares of the company’s stock, valued at approximately $21,050,409.84. This represents a 2.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carolyn Herzog sold 5,143 shares of Elastic stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the sale, the insider owned 94,677 shares of the company’s stock, valued at $8,532,291.24. The trade was a 5.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 352,042 shares of company stock worth $31,087,394 over the last three months. 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.