Amundi Raises Position in Elastic N.V. $ESTC

Key Points

• Amundi increased its Elastic stake by 37.2% in the first quarter, bringing its holdings to 296,604 shares valued at approximately $14.8 million. Institutional investors collectively own 97.03% of the company.
• Elastic reported quarterly earnings of $0.61 per share, beating estimates by $0.05, while revenue rose 16% year over year to $450.68 million. The company issued fiscal 2027 EPS guidance of $3.21–$3.29.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $78.78, although several firms recently lowered their targets. Elastic shares opened at $71.14, up 3.5%.

Amundi grew its stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 37.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 296,604 shares of the company's stock after acquiring an additional 80,441 shares during the quarter. Amundi owned about 0.29% of Elastic worth $14,827,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ESTC. Sound Income Strategies LLC acquired a new position in Elastic during the 4th quarter worth approximately $25,000. Bessemer Group Inc. acquired a new stake in Elastic during the first quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in Elastic during the second quarter valued at approximately $31,000. Activest Wealth Management lifted its holdings in Elastic by 3,181.2% during the 4th quarter. Activest Wealth Management now owns 525 shares of the company's stock worth $40,000 after buying an additional 509 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Elastic by 206.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock worth $42,000 after acquiring an additional 371 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Stock Up 3.5%

Shares of Elastic stock opened at $71.14 on Wednesday. The stock has a 50-day moving average price of $60.94 and a 200 day moving average price of $57.25. The company has a market cap of $7.39 billion, a P/E ratio of 20.33, a P/E/G ratio of 15.56 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. Elastic N.V. has a 1 year low of $42.05 and a 1 year high of $96.07.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm's revenue was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. As a group, analysts expect that Elastic N.V. will post 0.26 EPS for the current fiscal year.

Insider Transactions at Elastic

In related news, insider Carolyn Herzog sold 9,485 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 value of $574,885.85. Following the transaction, the insider owned 128,439 shares in the company, valued at $7,784,687.79. This trade represents a 6.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $2,447,007.53. Following the sale, the chief executive officer owned 628,752 shares of the company's stock, valued at $38,108,658.72. This trade represents a 6.03% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 110,099 shares of company stock worth $6,673,100. Corporate insiders own 12.70% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ESTC shares. Wolfe Research set a $55.00 price objective on shares of Elastic in a research report on Friday, May 29th. Rothschild & Co Redburn assumed coverage on shares of Elastic in a research note on Thursday, April 23rd. They issued a "neutral" rating and a $49.00 price target on the stock. Barclays cut their price target on Elastic from $76.00 to $68.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Canaccord Genuity Group reduced their price objective on Elastic from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, May 29th. Finally, Weiss Ratings raised Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. Seventeen research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.

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