Alight Capital Management LP Has $4.23 Million Holdings in Elastic N.V. $ESTC

Key Points

• Alight Capital Management cut its Elastic stake by 53.3% in the fourth quarter, but still held 56,000 shares valued at about $4.23 million as of its latest filing.
• Several other institutional investors also adjusted their positions, and 97.03% of Elastic’s stock is owned by institutions, underscoring heavy professional ownership.
• Elastic shares were down 2.7% to $58.50, while the company recently beat quarterly earnings expectations with $0.61 EPS on $450.68 million in revenue and maintained a Moderate Buy analyst consensus with an average price target of $80.04.

Alight Capital Management LP trimmed its position in Elastic N.V. (NYSE:ESTC - Free Report) by 53.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 56,000 shares of the company's stock after selling 64,000 shares during the period. Alight Capital Management LP owned about 0.05% of Elastic worth $4,225,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ESTC. Sound Income Strategies LLC bought a new stake in Elastic in the 4th quarter worth about $25,000. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the 2nd quarter valued at approximately $31,000. Activest Wealth Management grew its position in shares of Elastic by 3,181.3% during the 4th quarter. Activest Wealth Management now owns 525 shares of the company's stock valued at $40,000 after acquiring an additional 509 shares during the period. Aster Capital Management DIFC Ltd grew its position in shares of Elastic by 206.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock valued at $42,000 after acquiring an additional 371 shares during the period. Finally, Quarry LP grew its position in shares of Elastic by 16,200.0% during the 4th quarter. Quarry LP now owns 652 shares of the company's stock valued at $49,000 after acquiring an additional 648 shares during the period. 97.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Elastic news, CTO Shay Banon sold 9,288 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $562,945.68. Following the sale, the chief technology officer directly owned 4,417,140 shares in the company, valued at $267,722,855.40. This represents a 0.21% decrease in their position. The transaction was disclosed in a document filed 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 stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $574,885.85. Following the completion of the sale, the insider owned 128,439 shares in the company, valued at $7,784,687.79. This represents a 6.88% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 110,099 shares of company stock worth $6,673,100. Company insiders own 12.70% of the company's stock.

Elastic Stock Down 2.7%

ESTC opened at $58.50 on Thursday. The company has a 50 day moving average of $53.38 and a 200 day moving average of $60.84. The company has a market cap of $6.08 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 19.87 and a beta of 1.00. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $96.07. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The company 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%. Elastic's revenue for the quarter was up 16.0% on a year-over-year basis. 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. On average, sell-side analysts expect that Elastic N.V. will post 0.18 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Elastic from a "sell (e+)" rating to a "sell (d+)" rating in a research report on Tuesday, June 9th. JPMorgan Chase & Co. reduced their target price on shares of Elastic from $99.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, May 27th. Royal Bank Of Canada reduced their target price on shares of Elastic from $80.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, April 16th. Canaccord Genuity Group reduced their target price on shares of Elastic from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, May 29th. Finally, Rothschild & Co Redburn assumed coverage on shares of Elastic in a research report on Thursday, April 23rd. They set a "neutral" rating and a $49.00 target price for the company. Eighteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Elastic currently has a consensus 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.

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