Connor Clark & Lunn Investment Management Ltd. Has $75.30 Million Stock Position in Elastic N.V. $ESTC

Connor Clark & Lunn Investment Management Ltd. grew its position in Elastic N.V. (NYSE:ESTC) by 50.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 891,279 shares of the company’s stock after acquiring an additional 300,264 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.84% of Elastic worth $75,304,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ESTC. Geneos Wealth Management Inc. bought a new stake in shares of Elastic during the second quarter valued at approximately $31,000. Promus Capital LLC bought a new position in Elastic in the second quarter worth $45,000. True Wealth Design LLC boosted its stake in Elastic by 391.2% during the third quarter. True Wealth Design LLC now owns 673 shares of the company’s stock worth $57,000 after buying an additional 536 shares in the last quarter. Allworth Financial LP boosted its stake in Elastic by 1,170.4% during the second quarter. Allworth Financial LP now owns 686 shares of the company’s stock worth $58,000 after buying an additional 632 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Elastic by 75.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 662 shares of the company’s stock valued at $58,000 after buying an additional 285 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Q4 results beat expectations and management issued FY‑2026 guidance that implies continued profitability improvement — revenue of $449.9M (beat consensus) and FY‑2026 EPS guidance of $2.50–$2.54. This supports upside expectations for earnings progression. MarketBeat ESTC Summary
• Neutral Sentiment: Institutional ownership is very high (~97%); that can stabilize liquidity but also concentrates selling/position shifts among large holders. Recent analyst coverage remains mostly favorable (consensus “Moderate Buy”) despite trimmed price targets. Analyst Summary
• Negative Sentiment: Significant insider selling occurred on March 9–10 across senior executives (CEO, CTO, CFO, CRO, CAO and others). CEO Ashutosh Kulkarni sold 17,756 shares (~4.16% of his holding) and other officers sold thousands of shares at ~ $52.28 — the volume and breadth of sales raise near‑term sentiment risk even though principals still retain large stakes. Insider Trades Alert
• Negative Sentiment: Multiple Form 4 filings available at the SEC confirm the executive sales (example: CEO form). Large, coordinated sales by multiple C‑suite members can be perceived as a signal to some investors and may cap short‑term gains. SEC Form 4 – Kulkarni

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ESTC shares. Barclays dropped their price objective on shares of Elastic from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Canaccord Genuity Group dropped their price target on shares of Elastic from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 27th. JPMorgan Chase & Co. cut their price target on shares of Elastic from $113.00 to $98.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. TD Cowen reaffirmed a “hold” rating on shares of Elastic in a report on Monday, February 23rd. Finally, Morgan Stanley lowered their price objective on Elastic from $80.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Seventeen 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.25.

Elastic Trading Up 1.9%

Shares of Elastic stock opened at $52.82 on Thursday. Elastic N.V. has a 12-month low of $49.90 and a 12-month high of $103.79. The stock has a market capitalization of $5.47 billion, a P/E ratio of -66.03, a price-to-earnings-growth ratio of 66.62 and a beta of 0.98. The company has a 50-day simple moving average of $64.56 and a 200 day simple moving average of $76.46. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. The firm had revenue of $449.88 million for the quarter, compared to analyst estimates of $438.37 million. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. Research analysts expect that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 17,756 shares of Elastic stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $928,283.68. Following the completion of the transaction, the chief executive officer owned 409,145 shares in the company, valued at approximately $21,390,100.60. The trade was a 4.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ken Exner sold 4,310 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $225,326.80. Following the completion of the transaction, the insider directly owned 222,728 shares in the company, valued at approximately $11,644,219.84. This represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 44,375 shares of company stock worth $2,464,797 over the last ninety days. 12.70% of the stock is owned by insiders.

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.