Melqart Asset Management UK Ltd Invests $4.16 Million in Elastic N.V. $ESTC

Melqart Asset Management UK Ltd purchased a new stake in shares of Elastic N.V. (NYSE:ESTC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 49,256 shares of the company’s stock, valued at approximately $4,162,000.

Several other large investors have also recently modified their holdings of the stock. NorthRock Partners LLC bought a new position in Elastic in the 3rd quarter worth about $204,000. Temasek Holdings Private Ltd grew its position in Elastic by 107.7% during the 3rd quarter. Temasek Holdings Private Ltd now owns 1,184,857 shares of the company’s stock valued at $100,109,000 after purchasing an additional 614,302 shares during the last quarter. Banque Transatlantique SA bought a new stake in Elastic during the 3rd quarter valued at about $1,068,000. Marshall Wace LLP raised its holdings in Elastic by 148.8% in the third quarter. Marshall Wace LLP now owns 916,400 shares of the company’s stock worth $77,427,000 after buying an additional 548,085 shares during the last quarter. Finally, Entropy Technologies LP raised its holdings in Elastic by 735.5% in the third quarter. Entropy Technologies LP now owns 44,282 shares of the company’s stock worth $3,741,000 after buying an additional 38,982 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ESTC shares. Rosenblatt Securities cut their price target on shares of Elastic from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Jefferies Financial Group decreased their price objective on shares of Elastic from $105.00 to $95.00 and set a “buy” rating for the company in a report on Monday, January 5th. Stifel Nicolaus lowered their price objective on Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Truist Financial cut their target price on Elastic from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, UBS Group decreased their price target on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.25.

Insider Buying and Selling at Elastic

In related news, CAO Jane E. Bone sold 887 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 $46,372.36. Following the completion of the sale, the chief accounting officer owned 42,284 shares of the company’s stock, valued at $2,210,607.52. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Carolyn Herzog sold 3,989 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $208,544.92. Following the sale, the insider owned 85,335 shares of the company’s stock, valued at approximately $4,461,313.80. This trade represents a 4.47% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 44,375 shares of company stock worth $2,464,797. 12.70% of the stock is owned by corporate insiders.

Elastic Stock Performance

Shares of ESTC stock opened at $51.45 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average price of $63.66 and a 200-day moving average price of $76.09. Elastic N.V. has a 52 week low of $49.90 and a 52 week high of $103.79. The firm has a market capitalization of $5.33 billion, a PE ratio of -64.32, a P/E/G ratio of 66.43 and a beta of 0.98.

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

Elastic Company Profile

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.