Bull Harbor Capital LLC Makes New $456,000 Investment in Elastic N.V. $ESTC

Bull Harbor Capital LLC bought a new stake in Elastic N.V. (NYSE:ESTC) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 9,115 shares of the company’s stock, valued at approximately $456,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of Elastic by 153.4% during the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after acquiring an additional 4,567,720 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Elastic by 43.2% during the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock valued at $324,550,000 after purchasing an additional 1,958,219 shares in the last quarter. FIL Ltd lifted its stake in Elastic by 36.9% during the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after purchasing an additional 977,578 shares during the last quarter. First Trust Advisors LP lifted its stake in Elastic by 516.1% during the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock worth $131,356,000 after purchasing an additional 2,201,140 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 49,198 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Performance

NYSE ESTC opened at $65.80 on Friday. The firm’s fifty day moving average price is $60.32 and its two-hundred day moving average price is $57.44. The stock has a market cap of $6.84 billion, a PE ratio of 18.80, a PEG ratio of 14.54 and a beta of 1.00. Elastic N.V. has a fifty-two week low of $42.05 and a fifty-two week high of $96.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68.

Elastic (NYSE:ESTC) last announced its quarterly earnings results 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. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The company had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. During the same period in the prior year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. 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, equities analysts expect that Elastic N.V. will post 0.26 EPS for the current fiscal year.

Insider Activity

In other news, insider Ken Exner sold 18,449 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,118,193.89. Following the completion of the transaction, the insider owned 360,037 shares of the company’s stock, valued at $21,821,842.57. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $574,885.85. Following the completion of the transaction, the insider owned 128,439 shares of the company’s stock, valued at approximately $7,784,687.79. This trade represents a 6.88% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 110,099 shares of company stock valued at $6,673,100. 12.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ESTC shares. Wedbush decreased their price target on Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Wall Street Zen downgraded Elastic from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. William Blair assumed coverage on Elastic in a research note on Friday, May 22nd. They issued an “outperform” rating on the stock. Citigroup lifted their target price on Elastic from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $59.00 target price on shares of Elastic in a research note on Thursday, June 25th. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.78.

Elastic Company 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.