Robeco Schweiz AG Makes New Investment in Elastic N.V. $ESTC

Robeco Schweiz AG purchased a new position in Elastic N.V. (NYSE:ESTC) in the 3rd quarter, Holdings Channel reports. The firm purchased 121,600 shares of the company’s stock, valued at approximately $11,151,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP boosted its position in shares of Elastic by 516.1% during the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after buying an additional 2,201,140 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Elastic by 43.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after buying an additional 1,958,219 shares during the last quarter. Wellington Management Group LLP purchased a new position in Elastic in the 2nd quarter worth about $41,889,000. Bank of Nova Scotia raised its position in Elastic by 78.8% in the 1st quarter. Bank of Nova Scotia now owns 752,434 shares of the company’s stock worth $37,614,000 after buying an additional 331,625 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in Elastic during the 3rd quarter valued at about $9,109,000. 97.03% of the stock is owned by institutional investors.

Elastic Stock Performance

Shares of ESTC opened at $102.61 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. Elastic N.V. has a one year low of $42.05 and a one year high of $108.00. The firm has a market capitalization of $10.77 billion, a P/E ratio of 28.74, a PEG ratio of 8.60 and a beta of 1.03. The business has a fifty day moving average of $90.57 and a 200 day moving average of $69.40.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%. The company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $469.75 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. Elastic’s revenue for the quarter was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, sell-side analysts anticipate that Elastic N.V. will post 0.65 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup raised their price target on shares of Elastic from $104.00 to $128.00 and gave the company a “buy” rating in a report on Friday, August 28th. Royal Bank Of Canada lifted their price target on shares of Elastic from $70.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Piper Sandler reissued a “hold” rating on shares of Elastic in a report on Friday, August 28th. Oppenheimer increased their price objective on shares of Elastic from $100.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. Finally, Canaccord Genuity Group increased their price objective on shares of Elastic from $80.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.56.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 29,227 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total transaction of $2,565,546.06. Following the completion of the sale, the chief executive officer owned 599,525 shares of the company’s stock, valued at $52,626,304.50. This represents a 4.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Shay Banon sold 200,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $96.47, for a total transaction of $19,294,000.00. Following the sale, the chief technology officer directly owned 1,854,978 shares of the company’s stock, valued at $178,949,727.66. The trade was a 9.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 4,585,641 shares of company stock valued at $422,851,366. Insiders own 12.70% of the company’s stock.

Elastic Profile

Elastic N.V. develops search-powered software and services for organizations worldwide. Its technology helps businesses search, analyze and act on structured and unstructured data across applications, websites, infrastructure and security environments. Elastic offers its products through cloud-based and self-managed deployment options.

The company’s core platform, the Elastic Search AI Platform, is built around Elasticsearch and Kibana. Its offerings include Elastic Cloud, a managed cloud service, as well as solutions for enterprise search, observability and security.