Wealth Enhancement Advisory Services LLC Boosts Stock Position in Elastic N.V. $ESTC

Wealth Enhancement Advisory Services LLC increased its position in shares of Elastic N.V. (NYSE:ESTC) by 65.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,303 shares of the company’s stock after acquiring an additional 15,882 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Elastic were worth $3,240,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ESTC. Northwestern Mutual Wealth Management Co. lifted its position in shares of Elastic by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after purchasing an additional 171 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Elastic by 5.1% in the second quarter. Janney Montgomery Scott LLC now owns 3,997 shares of the company’s stock valued at $337,000 after purchasing an additional 194 shares in the last quarter. California State Teachers Retirement System increased its stake in Elastic by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after buying an additional 219 shares during the period. Los Angeles Capital Management LLC increased its stake in Elastic by 3.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 7,321 shares of the company’s stock worth $617,000 after buying an additional 226 shares during the period. Finally, Huntington National Bank lifted its holdings in Elastic by 97.5% during the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after buying an additional 231 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ESTC has been the subject of several research reports. Truist Financial dropped their price target on shares of Elastic from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Citigroup decreased their target price on Elastic from $130.00 to $115.00 and set a “buy” rating for the company in a report on Monday, November 24th. Monness Crespi & Hardt cut Elastic from a “buy” rating to a “neutral” rating in a research note on Friday, November 21st. DA Davidson cut their price target on Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Finally, UBS Group decreased their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Seventeen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $105.71.

Insiders Place Their Bets

In related news, insider Ken Exner sold 6,544 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $491,127.20. Following the transaction, the insider directly owned 227,038 shares of the company’s stock, valued at $17,039,201.90. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 20,413 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $1,531,995.65. Following the completion of the sale, the chief executive officer directly owned 431,901 shares of the company’s stock, valued at approximately $32,414,170.05. This trade represents a 4.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 61,828 shares of company stock worth $4,641,010. 12.70% of the stock is currently owned by company insiders.

Elastic Trading Up 0.9%

NYSE:ESTC opened at $74.89 on Wednesday. Elastic N.V. has a 1 year low of $67.96 and a 1 year high of $118.84. The stock has a market cap of $7.89 billion, a P/E ratio of -72.66, a P/E/G ratio of 305.74 and a beta of 0.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a 50-day simple moving average of $74.72 and a 200-day simple moving average of $81.44.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.06. The business had revenue of $423.48 million for the quarter, compared to analyst estimates of $418.27 million. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. As a group, analysts anticipate that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Elastic declared that its board has initiated a share repurchase program on Thursday, October 9th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.