KBC Group NV Sells 1,654 Shares of Elastic N.V. $ESTC

KBC Group NV cut its stake in Elastic N.V. (NYSE:ESTC) by 40.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,427 shares of the company’s stock after selling 1,654 shares during the period. KBC Group NV’s holdings in Elastic were worth $205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of Elastic by 6,651.3% during the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company’s stock valued at $122,978,000 after purchasing an additional 1,383,065 shares during the last quarter. RGM Capital LLC grew its stake in shares of Elastic by 38.1% in the first quarter. RGM Capital LLC now owns 1,197,030 shares of the company’s stock worth $106,655,000 after purchasing an additional 330,290 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of Elastic by 1,450.8% during the first quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company’s stock valued at $78,448,000 after buying an additional 823,680 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Elastic by 32.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 616,133 shares of the company’s stock valued at $54,897,000 after purchasing an additional 151,551 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Elastic by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 594,406 shares of the company’s stock valued at $52,962,000 after buying an additional 31,321 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

ESTC opened at $88.67 on Wednesday. Elastic N.V. has a fifty-two week low of $70.14 and a fifty-two week high of $118.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The company has a fifty day moving average of $86.99 and a 200 day moving average of $85.56. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of -110.83 and a beta of 1.04.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.50). The firm had revenue of $415.29 million for the quarter, compared to the consensus estimate of $397.13 million. Elastic had a negative net margin of 5.38% and a negative return on equity of 1.68%. Elastic’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. As a group, sell-side analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Elastic declared that its Board of Directors has approved a stock buyback plan on Thursday, October 9th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Ken Exner sold 6,290 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $566,854.80. Following the completion of the transaction, the insider owned 233,582 shares of the company’s stock, valued at approximately $21,050,409.84. This trade represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $88.12, for a total value of $440,600.00. Following the completion of the sale, the chief executive officer directly owned 452,314 shares of the company’s stock, valued at $39,857,909.68. The trade was a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 352,042 shares of company stock worth $31,087,394. 12.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ESTC shares. Zacks Research downgraded Elastic from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Royal Bank Of Canada boosted their price objective on shares of Elastic from $106.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. UBS Group upped their target price on shares of Elastic from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Piper Sandler increased their price target on Elastic from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Elastic in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.00.

Elastic Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.