Thematics Asset Management Purchases 48,346 Shares of Elastic N.V. $ESTC

Thematics Asset Management increased its position in Elastic N.V. (NYSE:ESTC) by 10.2% in the 3rd quarter, Holdings Channel reports. The firm owned 523,283 shares of the company’s stock after buying an additional 48,346 shares during the period. Elastic makes up 2.0% of Thematics Asset Management’s holdings, making the stock its 7th biggest holding. Thematics Asset Management’s holdings in Elastic were worth $44,212,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. AXQ Capital LP purchased a new position in shares of Elastic during the second quarter worth approximately $419,000. Geode Capital Management LLC raised its position in Elastic by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock valued at $132,384,000 after purchasing an additional 54,812 shares during the last quarter. Mackenzie Financial Corp raised its position in Elastic by 622.2% in the 2nd quarter. Mackenzie Financial Corp now owns 77,005 shares of the company’s stock valued at $6,494,000 after purchasing an additional 66,342 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Elastic by 102.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 464,268 shares of the company’s stock worth $39,152,000 after purchasing an additional 234,735 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Elastic by 50.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,279 shares of the company’s stock worth $75,304,000 after purchasing an additional 300,264 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ESTC has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Elastic from $113.00 to $98.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Monness Crespi & Hardt downgraded shares of Elastic from a “buy” rating to a “neutral” rating in a research note on Friday, November 21st. Stifel Nicolaus lowered their price target on Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Piper Sandler reduced their price objective on Elastic from $110.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, Morgan Stanley decreased their price objective on Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.25.

Insider Activity at Elastic

In other news, insider Ken Exner sold 4,310 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $225,326.80. Following the completion of the transaction, the insider directly owned 222,728 shares of the company’s stock, valued at approximately $11,644,219.84. This represents a 1.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 4,283 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $223,915.24. Following the completion of the sale, the chief technology officer directly owned 4,354,945 shares of the company’s stock, valued at $227,676,524.60. This represents a 0.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 44,375 shares of company stock worth $2,464,797 in the last three months. 12.70% of the stock is currently owned by corporate insiders.

Elastic Stock Down 0.5%

Shares of NYSE:ESTC opened at $51.45 on Friday. The company has a market cap of $5.33 billion, a price-to-earnings ratio of -64.32, a PEG ratio of 66.43 and a beta of 0.98. The firm’s 50-day simple moving average is $63.66 and its 200-day simple moving average is $76.09. 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 N.V. has a fifty-two week low of $49.90 and a fifty-two week high of $103.79.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. The firm had revenue of $449.88 million during the quarter, compared to analysts’ expectations of $438.37 million. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $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. As a group, equities research analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

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.