First Trust Advisors LP Acquires 2,201,140 Shares of Elastic N.V. $ESTC

First Trust Advisors LP boosted its holdings in shares of Elastic N.V. (NYSE:ESTC) by 516.1% during the first quarter, Holdings Channel reports. The firm owned 2,627,636 shares of the company’s stock after acquiring an additional 2,201,140 shares during the quarter. First Trust Advisors LP’s holdings in Elastic were worth $131,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC purchased a new stake in Elastic in the 4th quarter worth approximately $25,000. Bessemer Group Inc. purchased a new position in shares of Elastic during the first quarter valued at approximately $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the second quarter valued at approximately $31,000. Activest Wealth Management raised its holdings in shares of Elastic by 3,181.2% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after acquiring an additional 509 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after acquiring an additional 371 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. TD Cowen dropped their price target on Elastic from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, May 26th. 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. JPMorgan Chase & Co. cut their target price on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Canaccord Genuity Group reduced their price target on shares of Elastic from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. Finally, UBS Group reissued a “buy” rating and issued a $85.00 price target on shares of Elastic in a research note on Friday, May 29th. Seventeen research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.78.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 9,288 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $562,945.68. Following the sale, the chief technology officer directly owned 4,417,140 shares of the company’s stock, valued at approximately $267,722,855.40. This represents a 0.21% decrease in their position. The sale 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, CRO Mark Eugene Dodds sold 18,439 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 transaction of $1,117,587.79. Following the sale, the executive owned 298,211 shares of the company’s stock, valued at approximately $18,074,568.71. This represents a 5.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 worth $6,673,100 in the last ninety days. 12.70% of the stock is currently owned by company insiders.

Elastic Stock Down 2.3%

Shares of NYSE:ESTC opened at $57.34 on Friday. 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 stock has a fifty day simple moving average of $59.23 and a two-hundred day simple moving average of $57.90. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 15.28 and a beta of 1.00.

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