Essential Partners LLC Has $128,000 Stock Holdings in Elastic N.V. $ESTC

Essential Partners LLC trimmed its position in shares of Elastic N.V. (NYSE:ESTC) by 82.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,565 shares of the company’s stock after selling 11,887 shares during the period. Essential Partners LLC’s holdings in Elastic were worth $128,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Focus Partners Wealth acquired a new stake in shares of Elastic during the 1st quarter worth approximately $494,000. Northwestern Mutual Wealth Management Co. increased 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 valued at $98,000 after purchasing an additional 171 shares during the period. Invesco Ltd. raised its stake in shares of Elastic by 11.7% in the second quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock valued at $8,039,000 after purchasing an additional 9,990 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Elastic by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock valued at $178,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in Elastic by 24.7% in the second quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock worth $2,576,000 after purchasing an additional 6,056 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Jane E. Bone sold 1,104 shares of Elastic stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $66,913.44. Following the completion of the transaction, the chief accounting officer directly owned 53,415 shares of the company’s stock, valued at $3,237,483.15. This trade represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 business’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 completion of the transaction, the executive owned 298,211 shares in the company, valued at approximately $18,074,568.71. This trade represents a 5.82% decrease in their ownership of the stock. 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. Insiders have sold 110,099 shares of company stock worth $6,673,100 in the last quarter. 12.70% of the stock is owned by corporate insiders.

Elastic Price Performance

Shares of ESTC stock opened at $65.80 on Friday. The stock’s fifty day simple moving average is $60.32 and its 200 day simple moving average is $57.44. Elastic N.V. has a one year low of $42.05 and a one year high of $96.07. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 14.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million during the quarter, compared to analyst estimates of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. 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, analysts expect that Elastic N.V. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ESTC. Rothschild & Co Redburn began coverage on shares of Elastic in a research note on Thursday, April 23rd. They set a “neutral” rating and a $49.00 price target on the stock. Scotiabank dropped their price objective on shares of Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a research note on Friday, May 29th. Zacks Research raised shares of Elastic from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. JPMorgan Chase & Co. reduced their price objective on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group initiated coverage on shares of Elastic in a research report on Tuesday, April 21st. They set a “neutral” rating and a $50.00 target price on the stock. 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 presently has an average rating of “Moderate Buy” and a consensus price target of $78.78.

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.