American Century Companies Inc. Increases Stock Position in Elastic N.V. $ESTC

Key Points

• American Century Companies Inc. increased its stake in Elastic N.V. by 29.6%, owning 474,411 shares valued at $42.27 million as of the latest disclosure.
• Recent analyst reports have resulted in varied price targets for Elastic, with Scotiabank lowering their target from $137.00 to $95.00 while Wall Street Zen upgraded the stock to a buy rating.
• Insider trades showed significant selling activity, with key executives shedding a total of 50,913 shares worth approximately $4.42 million in the last 90 days.

American Century Companies Inc. grew its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 29.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 474,411 shares of the company's stock after acquiring an additional 108,308 shares during the period. American Century Companies Inc. owned about 0.45% of Elastic worth $42,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new position in shares of Elastic during the fourth quarter valued at about $26,000. Cloud Capital Management LLC bought a new position in shares of Elastic during the first quarter valued at about $25,000. Signaturefd LLC raised its stake in shares of Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. North Capital Inc. bought a new position in Elastic in the 1st quarter worth $37,000. Finally, GAMMA Investing LLC raised its holdings in Elastic by 134.6% in the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company's stock worth $51,000 after purchasing an additional 327 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Elastic Stock Up 3.1%

NYSE:ESTC traded up $2.3750 on Friday, reaching $79.9650. 1,404,441 shares of the stock traded hands, compared to its average volume of 1,565,534. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of -76.16 and a beta of 1.07. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61. Elastic N.V. has a 12 month low of $69.00 and a 12 month high of $118.84. The company's fifty day simple moving average is $82.74 and its 200 day simple moving average is $89.01.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. The business had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. Elastic's revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. Elastic has set its FY 2026 guidance at 2.240-2.32 EPS. Q1 2026 guidance at 0.410-0.43 EPS. Equities analysts predict that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on ESTC shares. Piper Sandler decreased their price objective on shares of Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Scotiabank decreased their price objective on shares of Elastic from $137.00 to $95.00 and set a "sector outperform" rating for the company in a report on Friday, May 30th. JPMorgan Chase & Co. decreased their price target on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Oppenheimer decreased their price target on shares of Elastic from $120.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, July 21st. Finally, TD Securities decreased their price target on shares of Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and an average price target of $110.60.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 22,901 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the completion of the sale, the chief executive officer directly owned 454,841 shares in the company, valued at approximately $39,530,231.31. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ken Exner sold 6,918 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $601,243.38. Following the sale, the insider owned 230,494 shares of the company's stock, valued at approximately $20,032,233.54. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,913 shares of company stock worth $4,416,324 in the last 90 days. Insiders own 15.90% of the company's stock.

Elastic Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.