Elastic N.V. $ESTC Shares Sold by Sylebra Capital LLC

Sylebra Capital LLC trimmed its holdings in shares of Elastic N.V. (NYSE:ESTC) by 12.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,409,793 shares of the company’s stock after selling 206,175 shares during the quarter. Elastic accounts for 9.1% of Sylebra Capital LLC’s holdings, making the stock its 5th biggest position. Sylebra Capital LLC owned approximately 1.36% of Elastic worth $70,476,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings 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 valued at $569,201,000 after buying an additional 4,567,720 shares during the period. First Trust Advisors LP raised its holdings in shares of Elastic by 516.1% during the first 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 period. Pictet Asset Management Holding SA raised its holdings in shares of 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 acquiring an additional 1,958,219 shares during the period. FIL Ltd lifted its position in Elastic by 36.9% in the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after acquiring an additional 977,578 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in Elastic by 490.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock valued at $94,080,000 after acquiring an additional 924,911 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on ESTC shares. TD Cowen lowered their target price on Elastic from $65.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday, May 26th. Zacks Research upgraded Elastic from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Rosenblatt Securities reduced their price objective on Elastic from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Scotiabank reduced their price objective on Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a research report on Friday, May 29th. Finally, Oppenheimer decreased their price objective on Elastic from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Seventeen investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $78.78.

Elastic Stock Performance

Shares of ESTC opened at $62.04 on Wednesday. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 13.86 and a beta of 1.00. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $96.07. The firm has a fifty day simple moving average of $59.70 and a 200 day simple moving average of $57.58. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The firm had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. During the same period in the previous year, the business earned $0.47 EPS. The company’s 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. Research analysts forecast that Elastic N.V. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Mark Eugene Dodds sold 18,439 shares of Elastic stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value 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. The trade was a 5.82% decrease in their ownership of the stock. The transaction 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 the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,118,193.89. Following the sale, the insider owned 360,037 shares in the company, valued at $21,821,842.57. The trade was 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 have sold 110,099 shares of company stock worth $6,673,100 over the last three months. Company insiders own 12.70% of the company’s stock.

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.