8,842 Shares in Elastic N.V. $ESTC Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new position in Elastic N.V. (NYSE:ESTC) in the 3rd quarter, Holdings Channel reports. The fund bought 8,842 shares of the company’s stock, valued at approximately $811,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESTC. First Trust Advisors LP lifted its holdings in 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 purchasing an additional 2,201,140 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Elastic in the second quarter worth $41,889,000. Bank of Nova Scotia increased its stake in shares of Elastic by 78.8% in the first quarter. Bank of Nova Scotia now owns 752,434 shares of the company’s stock worth $37,614,000 after purchasing an additional 331,625 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Elastic in the third quarter worth $9,109,000. Finally, Squarepoint Ops LLC increased its stake in shares of Elastic by 1,139.5% in the second quarter. Squarepoint Ops LLC now owns 97,798 shares of the company’s stock worth $5,576,000 after purchasing an additional 89,908 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In related news, CTO Shay Banon sold 200,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief technology officer owned 1,854,978 shares in the company, valued at approximately $178,949,727.66. This represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 29,227 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer directly owned 599,525 shares of the company’s stock, valued at $52,626,304.50. The trade was a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 4,585,641 shares of company stock worth $422,851,366. 12.70% of the stock is owned by insiders.

Elastic Trading Up 0.7%

ESTC stock opened at $106.28 on Thursday. Elastic N.V. has a 1-year low of $42.05 and a 1-year high of $108.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 8.60 and a beta of 1.03. The business has a 50 day simple moving average of $91.72 and a two-hundred day simple moving average of $67.25.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on ESTC shares. Yorkville Ives began coverage on shares of Elastic in a research report on Monday, October 5th. They set an “outperform” rating and a $115.00 price objective on the stock. Royal Bank Of Canada upped their target price on shares of Elastic from $70.00 to $87.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Elastic in a report on Friday, October 9th. Canaccord Genuity Group increased their price target on Elastic from $80.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Bank of America raised their price target on Elastic from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.56.

Elastic Company 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.