Elastic N.V. $ESTC Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP trimmed its holdings in shares of Elastic N.V. (NYSE:ESTC) by 33.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,845 shares of the company’s stock after selling 54,221 shares during the period. Cinctive Capital Management LP’s holdings in Elastic were worth $8,060,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC acquired a new stake in shares of Elastic during the fourth quarter worth $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the second quarter worth $31,000. Activest Wealth Management raised its holdings in shares of Elastic by 3,181.3% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after purchasing an additional 509 shares during the period. 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 worth $42,000 after purchasing an additional 371 shares during the period. Finally, Quarry LP raised its holdings in shares of Elastic by 16,200.0% during the fourth quarter. Quarry LP now owns 652 shares of the company’s stock worth $49,000 after purchasing an additional 648 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elastic

In other news, insider Ken Exner sold 18,449 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 $1,118,193.89. Following the completion of the transaction, the insider owned 360,037 shares in the company, valued at approximately $21,821,842.57. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction, the executive owned 298,211 shares of the company’s stock, valued at approximately $18,074,568.71. This trade represents a 5.82% decrease in their position. 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 a total of 110,099 shares of company stock worth $6,673,100 over the last ninety days. Insiders own 12.70% of the company’s stock.

Elastic Stock Performance

Shares of ESTC opened at $58.50 on Thursday. The firm has a 50-day moving average price of $53.38 and a 200 day moving average price of $60.84. The firm has a market capitalization of $6.08 billion, a PE ratio of 16.71, a P/E/G ratio of 19.87 and a beta of 1.00. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45. Elastic N.V. has a 52-week low of $42.05 and a 52-week high of $96.07.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 21.14% and a negative return on equity of 1.82%. Elastic’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. 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, sell-side analysts anticipate that Elastic N.V. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. Stifel Nicolaus set a $65.00 target price on shares of Elastic in a report on Friday, May 29th. Weiss Ratings raised shares of Elastic from a “sell (e+)” rating to a “sell (d+)” rating in a report on Tuesday, June 9th. Oppenheimer dropped their target price on shares of Elastic from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Finally, Wolfe Research set a $55.00 price target on shares of Elastic in a research report on Friday, May 29th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.04.

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.