Wealth Effects LLC Sells 12,887 Shares of Elastic N.V. $ESTC

Wealth Effects LLC cut its holdings in shares of Elastic N.V. (NYSE:ESTC) by 55.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,565 shares of the company’s stock after selling 12,887 shares during the quarter. Wealth Effects LLC’s holdings in Elastic were worth $528,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position 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 purchasing an additional 4,567,720 shares during the period. Pictet Asset Management Holding SA boosted its holdings in Elastic by 3.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,534,498 shares of the company’s stock worth $342,127,000 after buying an additional 138,974 shares during the period. FIL Ltd boosted its holdings in Elastic by 36.9% in the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after buying an additional 977,578 shares during the period. Geode Capital Management LLC grew its stake in Elastic by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock valued at $130,124,000 after buying an additional 49,198 shares in the last quarter. Finally, RGM Capital LLC grew its stake in Elastic by 2.4% in the 4th quarter. RGM Capital LLC now owns 1,710,069 shares of the company’s stock valued at $129,008,000 after buying an additional 40,371 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ESTC. UBS Group restated a “buy” rating and set a $85.00 target price on shares of Elastic in a research report on Friday, May 29th. Scotiabank reduced their price target 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. Wedbush decreased their price objective on Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Barclays dropped their price objective on Elastic from $76.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, Rothschild & Co Redburn initiated coverage on Elastic in a research note on Thursday, April 23rd. They issued a “neutral” rating and a $49.00 target price for the company. Eighteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.04.

Elastic Stock Performance

NYSE ESTC opened at $56.24 on Friday. Elastic N.V. has a 1 year low of $42.05 and a 1 year high of $96.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a market capitalization of $5.85 billion, a PE ratio of 16.07, a P/E/G ratio of 13.78 and a beta of 1.00. The company’s 50 day simple moving average is $54.96 and its two-hundred day simple moving average is $60.18.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $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. Analysts predict that Elastic N.V. will post 0.23 earnings per share for the current fiscal year.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 9,288 shares of the firm’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 $562,945.68. Following the sale, the chief technology officer owned 4,417,140 shares of the company’s stock, valued at $267,722,855.40. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 9,485 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 value of $574,885.85. Following the completion of the sale, the insider directly owned 128,439 shares in the company, valued at approximately $7,784,687.79. The trade was a 6.88% 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 110,099 shares of company stock valued at $6,673,100 in the last ninety days. 12.70% of the stock is currently owned by corporate insiders.

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.