Wealth Effects LLC Lowers Stake in Elastic N.V. $ESTC

Wealth Effects LLC reduced its stake in shares of Elastic N.V. (NYSE:ESTC) by 55.0% in the first quarter, HoldingsChannel.com reports. The fund owned 10,565 shares of the company’s stock after selling 12,887 shares during the quarter. Wealth Effects LLC’s holdings in Elastic were worth $528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ESTC. Sound Income Strategies LLC bought a new position in Elastic in the fourth quarter valued at $25,000. Geneos Wealth Management Inc. bought a new stake in Elastic during the second quarter worth about $31,000. Activest Wealth Management lifted its stake in Elastic by 3,181.2% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after purchasing an additional 509 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in shares of Elastic by 206.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock worth $42,000 after purchasing an additional 371 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Elastic by 16,200.0% in the 4th quarter. Quarry LP now owns 652 shares of the company’s stock worth $49,000 after purchasing an additional 648 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Zacks Research cut Elastic from a “hold” rating to a “strong sell” rating in a report on Thursday, May 28th. Rothschild & Co Redburn initiated coverage on shares of Elastic in a research report on Thursday, April 23rd. They set a “neutral” rating and a $49.00 price target on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $59.00 price target on shares of Elastic in a research report on Thursday. Oppenheimer decreased their price target on shares of Elastic from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Finally, Wall Street Zen lowered shares of Elastic from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus target price of $79.04.

Insider Transactions at Elastic

In other news, CAO Jane E. Bone sold 1,104 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $66,913.44. Following the completion of the sale, the chief accounting officer owned 53,415 shares of the company’s stock, valued at approximately $3,237,483.15. This represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Ken Exner sold 18,449 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $1,118,193.89. Following the completion of the transaction, the insider owned 360,037 shares in the company, valued at $21,821,842.57. This represents a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 110,099 shares of company stock valued at $6,673,100. Insiders own 12.70% of the company’s stock.

Elastic Stock Up 4.9%

ESTC opened at $56.24 on Friday. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $96.07. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The business’s 50-day moving average price is $54.96 and its 200-day moving average price is $60.18. The company has a market cap of $5.85 billion, a P/E ratio of 16.07, a P/E/G ratio of 13.78 and a beta of 1.00.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. During the same period in the prior year, the business posted $0.47 EPS. Elastic’s quarterly revenue was up 16.0% compared to the same quarter last year. 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 analysts expect that Elastic N.V. will post 0.23 EPS for the current year.

Elastic 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.