Edgestream Partners L.P. Makes New Investment in Elastic N.V. $ESTC

Edgestream Partners L.P. purchased a new stake in Elastic N.V. (NYSE:ESTC) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 8,872 shares of the company’s stock, valued at approximately $444,000.

A number of other hedge funds have also recently made changes to their positions in ESTC. AQR Capital Management LLC raised its position in shares of Elastic by 153.4% in the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after buying an additional 4,567,720 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Elastic by 43.2% during the first 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 in the last quarter. FIL Ltd grew its position in Elastic by 36.9% during the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after buying an additional 977,578 shares in the last quarter. First Trust Advisors LP increased its stake in Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock worth $131,356,000 after acquiring an additional 2,201,140 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Elastic by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock worth $130,124,000 after acquiring an additional 49,198 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Trading Down 2.0%

Shares of ESTC stock opened at $69.65 on Thursday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $61.25 and a two-hundred day moving average price of $57.22. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The firm has a market cap of $7.24 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 16.08 and a beta of 0.98.

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

Insiders Place Their Bets

In other news, insider Ken Exner sold 18,449 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 360,037 shares in the company, valued at approximately $21,821,842.57. The trade was a 4.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 9,485 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $574,885.85. Following the completion of the sale, the insider directly owned 128,439 shares of the company’s stock, valued at $7,784,687.79. This trade represents a 6.88% 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 have sold 110,099 shares of company stock valued at $6,673,100 over the last 90 days. Company insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ESTC. Canaccord Genuity Group lowered their price target on Elastic from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, May 29th. Royal Bank Of Canada decreased their price objective on shares of Elastic from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. DA Davidson lowered their target price on shares of Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 29th. Wedbush dropped their target price on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. Finally, Zacks Research raised shares of Elastic from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average 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.