393,556 Shares in Elastic N.V. $ESTC Bought by Kettle Hill Capital Management LLC

Kettle Hill Capital Management LLC bought a new position in Elastic N.V. (NYSE:ESTC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 393,556 shares of the company’s stock, valued at approximately $29,690,000. Elastic accounts for about 6.6% of Kettle Hill Capital Management LLC’s portfolio, making the stock its biggest position.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC raised its holdings in Elastic by 16.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,928 shares of the company’s stock worth $523,000 after acquiring an additional 975 shares during the period. Panagora Asset Management Inc. raised its holdings in Elastic by 12.5% in the 4th quarter. Panagora Asset Management Inc. now owns 1,031,378 shares of the company’s stock worth $77,807,000 after acquiring an additional 114,965 shares during the period. Mariner LLC grew its position in Elastic by 244.7% in the 4th quarter. Mariner LLC now owns 158,639 shares of the company’s stock worth $11,982,000 after purchasing an additional 112,617 shares during the last quarter. Focus Partners Wealth grew its position in Elastic by 232.9% in the 4th quarter. Focus Partners Wealth now owns 60,867 shares of the company’s stock worth $4,610,000 after purchasing an additional 42,582 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Elastic in the 4th quarter worth $49,000. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

ESTC has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Elastic from a “sell (e+)” rating to a “sell (d+)” rating in a research report on Tuesday, June 9th. Scotiabank decreased their price target on shares of Elastic from $61.00 to $58.00 and set a “sector perform” rating on the stock in a research report on Friday, May 29th. Wells Fargo & Company decreased their price target on shares of Elastic from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, February 27th. Zacks Research lowered shares of Elastic from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 28th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $110.00 price target on shares of Elastic in a research report on Tuesday, May 26th. Eighteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average price target of $80.04.

Insider Buying and Selling at Elastic

In other Elastic news, 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 value of $1,117,587.79. Following the transaction, the executive directly owned 298,211 shares in the company, valued at $18,074,568.71. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Jane E. Bone sold 1,104 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 $66,913.44. Following the completion of the transaction, the chief accounting officer owned 53,415 shares in the company, valued at approximately $3,237,483.15. This trade represents a 2.02% 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 sold 110,099 shares of company stock worth $6,673,100 in the last 90 days. 12.70% of the stock is currently owned by insiders.

Elastic Price Performance

Shares of Elastic stock opened at $62.13 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68. The firm’s 50-day simple moving average is $53.03 and its 200-day simple moving average is $60.99. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $96.07. The firm has a market cap of $6.46 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 19.95 and a beta of 1.00.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share 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 business 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 firm’s 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. As a group, research analysts expect that Elastic N.V. will post 0.18 EPS for the current fiscal year.

About Elastic

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.