Amanah Holdings Trust 13F: New $157M Stake in Elastic (ESTC)

Amanah Holdings Trust opened a new position in Elastic N.V. ESTC, purchasing 1,710,863 shares worth approximately $156.9 million. The investment was revealed in a Form 13F regulatory filing filed with the SEC on October 23, 2026. Because this is a brand-new stake, the fund did not previously hold any shares in the software provider.

ESTC Elastic N.V.

$102.43 ▲ +41.17% year to date

1M 3M YTD

Daily close · Oct 23, 2026

What Changed in Amanah Holdings Trust's Elastic Position

The newly initiated position gives the trust a substantial holding in Elastic. This addition brings a notable block of shares onto the trust's books during the third quarter reporting period.

Other Institutional Activity in Elastic

Other large institutional investors adjusted their holdings in Elastic during the same period. AQR Capital Management, LLC reduced its stake by 1,474,015 shares, ending with 6,077,291 shares valued at about $622.5 million following a 19.5% drop. Pictet Asset Management Holding SA cut its holdings by 668,074 shares, or 10.3%, to finish with 5,824,386 shares worth roughly $596.6 million. On the buying side, Shaw D.E. & Co., Inc. grew its holdings by 1,324,701 shares, a 38.3% increase that left it with 4,787,065 shares valued at about $490.3 million. FIL LTD trimmed its position slightly by 5,405 shares, a 0.2% change, closing out with 3,372,429 shares worth roughly $345.4 million. First Trust Advisors LP raised its stake by 400,725 shares, marking a 15.2% increase to hold 3,028,431 shares valued at about $310.2 million.

Elastic N.V. Stock Up 3.7%

Elastic shares recently traded around $102.43, matching the close on the filing date of October 23, 2026. The stock trades well above its 50-day moving average of $90.12 and sits comfortably higher than its 200-day moving average of $66.42. The share price is within striking distance of its 52-week high of $108.00 while standing far above its 52-week low of $42.05.

Recent Earnings

Elastic posted trailing twelve-month revenue of $1.8 billion alongside an earnings per share of $3.50. The company reported a net profit margin of 20.8% and a return on equity of 33.1%. The next earnings update is scheduled for November 19, 2026.

Dividend

Elastic N.V. does not currently pay a dividend, keeping its payout ratio at 0.0% as it reinvests earnings into growth and software development.

Insider Buying and Selling at Elastic N.V.

Company insiders completed several transactions in the weeks leading up to the filing. Chief Technology Officer Shay - Shalom Banon disposed of 84,207 shares on September 14, 2026, with a total value of $7,127,560. Officer Mark Eugene Dodds sold 10,000 shares at an average price of $92.58 on October 2, 2026, totaling $925,800. Director Steven Schuurman executed two larger sales, offloading 1,500,000 shares at $90.13 on October 5, 2026, for $135,195,000, followed by another 2,000,000 shares at $94.15 on October 12, 2026, for a total of $188,300,000.

Analysts Set New Price Targets

Wall Street firms have actively updated their views on the stock. On August 28, 2026, Scotiabank maintained its sector perform rating while raising its price target from $58.00 to $84.00. On the same day, Wells Fargo kept an equal-weight rating and lifted its target from $80.00 to $100.00. Cantor Fitzgerald reiterated a neutral rating with a $100.00 target on September 23, 2026. Wedbush reaffirmed an outperform rating with a $125.00 target on October 9, 2026, while Stifel maintained a buy rating and raised its target from $107.00 to $120.00 on the same date. Overall, the stock carries a consensus buy recommendation and a mean price target of $111.74 across 27 analyst opinions.

About Elastic

Elastic N.V. is a search artificial intelligence company based in Amsterdam, Netherlands. It builds software platforms designed to run across hybrid, public, and private cloud environments. Its core offerings include the Elasticsearch Platform, which lets organizations ingest, store, search, analyze, and visualize data from diverse sources.

Bottom Line

Investors tracking Amanah Holdings Trust will look to upcoming quarterly disclosures to see if the new stake is expanded. The next major milestone for the company arrives with its earnings report on November 19, 2026.