Neumann Advisory Hong Kong Ltd Sells 31,816 Shares of Elastic N.V. $ESTC

Neumann Advisory Hong Kong Ltd lessened its stake in shares of Elastic N.V. (NYSE:ESTC) by 88.5% during the second quarter, Holdings Channel.com reports. The fund owned 4,114 shares of the company’s stock after selling 31,816 shares during the period. Elastic comprises 0.1% of Neumann Advisory Hong Kong Ltd’s investment portfolio, making the stock its 6th largest position. Neumann Advisory Hong Kong Ltd’s holdings in Elastic were worth $235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESTC. Sound Income Strategies LLC bought a new position in shares of Elastic in the fourth quarter worth $25,000. Bessemer Group Inc. bought a new stake in Elastic during the first quarter worth about $25,000. Basecamp Wealth Advisors LLC bought a new stake in Elastic during the first quarter worth about $28,000. Geneos Wealth Management Inc. acquired a new stake in Elastic during the second quarter worth about $31,000. Finally, Activest Wealth Management increased its holdings in Elastic by 3,181.2% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after buying an additional 509 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 Elastic stock in a transaction on 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 transaction, the insider owned 360,037 shares in the company, valued at approximately $21,821,842.57. The trade was a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ashutosh Kulkarni sold 40,373 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $2,447,007.53. Following the completion of the sale, the chief executive officer directly owned 628,752 shares in the company, valued at approximately $38,108,658.72. This represents a 6.03% 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 90 days, insiders sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is currently owned by insiders.

Elastic Stock Performance

NYSE:ESTC opened at $69.99 on Friday. The stock has a market cap of $7.28 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 15.78 and a beta of 0.98. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The stock’s 50-day moving average is $61.50 and its 200-day moving average is $57.21. Elastic N.V. has a 1-year low of $42.05 and a 1-year high of $96.07.

Elastic (NYSE:ESTC) last issued its quarterly earnings data 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 business 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%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business 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. Equities research analysts anticipate that Elastic N.V. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ESTC. Barclays cut their target price on Elastic from $76.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Stifel Nicolaus set a $65.00 price objective on Elastic in a research note on Friday, May 29th. Piper Sandler reiterated an “overweight” rating on shares of Elastic in a research report on Friday, June 26th. Wedbush reduced their price target on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Finally, Oppenheimer dropped their price objective on shares of Elastic from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, May 29th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.78.

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.