TimesSquare Capital Management LLC Has $56.79 Million Stock Position in Elastic N.V. $ESTC

TimesSquare Capital Management LLC increased its holdings in shares of Elastic N.V. (NYSE:ESTC) by 5.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 672,175 shares of the company’s stock after acquiring an additional 35,255 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Elastic were worth $56,792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd increased its holdings in shares of Elastic by 302.1% in the second quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company’s stock worth $78,649,000 after acquiring an additional 700,697 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Elastic by 305.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 832,353 shares of the company’s stock valued at $70,192,000 after purchasing an additional 627,284 shares in the last quarter. Temasek Holdings Private Ltd acquired a new position in shares of Elastic in the 2nd quarter valued at approximately $48,115,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Elastic by 972.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 591,015 shares of the company’s stock worth $49,840,000 after purchasing an additional 535,927 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Elastic by 30.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,832,215 shares of the company’s stock worth $153,100,000 after purchasing an additional 428,356 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Insider Activity at Elastic

In related news, insider Ken Exner sold 6,544 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $491,127.20. Following the completion of the transaction, the insider directly owned 227,038 shares of the company’s stock, valued at approximately $17,039,201.90. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Shay Banon sold 4,552 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $341,627.60. Following the transaction, the chief technology officer owned 4,359,228 shares in the company, valued at approximately $327,160,061.40. The trade was a 0.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 61,828 shares of company stock worth $4,641,010. Insiders own 12.70% of the company’s stock.

Elastic Trading Up 1.9%

Elastic stock opened at $61.55 on Friday. The company has a market cap of $6.49 billion, a price-to-earnings ratio of -59.75, a P/E/G ratio of 250.46 and a beta of 0.93. The firm has a 50-day moving average of $71.94 and a 200-day moving average of $79.28. 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 one year low of $56.69 and a one year high of $118.46.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business 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. Elastic’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. On average, equities analysts expect that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ESTC shares. Wells Fargo & Company cut their price target on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, November 21st. Piper Sandler cut their price objective on shares of Elastic from $125.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Morgan Stanley reduced their target price on shares of Elastic from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, November 21st. DA Davidson dropped their price target on Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Finally, Bank of America cut their price target on Elastic from $111.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Seventeen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus price target of $104.88.

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.