Bull Harbor Capital LLC Invests $456,000 in Elastic N.V. $ESTC

Bull Harbor Capital LLC bought a new position in shares of Elastic N.V. (NYSE:ESTC) in the first quarter, Holdings Channel.com reports. The fund bought 9,115 shares of the company’s stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ESTC. Orion Porfolio Solutions LLC lifted its holdings in Elastic by 1.4% in the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after buying an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after acquiring an additional 171 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Elastic by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after acquiring an additional 175 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Elastic by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after acquiring an additional 219 shares in the last quarter. Finally, Fred Alger Management LLC lifted its stake in shares of Elastic by 11.6% in the 3rd quarter. Fred Alger Management LLC now owns 3,347 shares of the company’s stock valued at $283,000 after purchasing an additional 347 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Activity at Elastic

In related news, CAO Jane E. Bone sold 1,104 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $66,913.44. Following the transaction, the chief accounting officer owned 53,415 shares of the company’s stock, valued at approximately $3,237,483.15. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ken Exner sold 18,449 shares of Elastic stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $1,118,193.89. Following the transaction, the insider owned 360,037 shares of the company’s stock, valued at $21,821,842.57. This trade represents a 4.87% decrease in their position. 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. Insiders sold a total of 110,099 shares of company stock valued at $6,673,100 over the last quarter. 12.70% of the stock is currently owned by company insiders.

Elastic Stock Performance

Shares of ESTC opened at $65.80 on Friday. Elastic N.V. has a one year low of $42.05 and a one year high of $96.07. The company has a market cap of $6.84 billion, a PE ratio of 18.80, a P/E/G ratio of 14.54 and a beta of 1.00. The stock has a 50-day moving average of $60.32 and a 200-day moving average of $57.44. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, equities research analysts predict that Elastic N.V. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ESTC shares. Weiss Ratings upgraded Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Rosenblatt Securities lowered their target price on Elastic from $90.00 to $83.00 and set a “buy” rating for the company in a report on Friday, June 26th. Scotiabank dropped their price target on Elastic from $61.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Friday, May 29th. JPMorgan Chase & Co. cut their price target on Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Elastic in a research report on Friday, June 26th. Seventeen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $78.78.

Elastic Company Profile

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.