Bank of America Corp DE trimmed its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 33.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 697,402 shares of the company's stock after selling 348,378 shares during the period. Bank of America Corp DE owned approximately 0.67% of Elastic worth $34,863,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Focus Partners Wealth acquired a new stake in shares of Elastic in the first quarter valued at $494,000. Northwestern Mutual Wealth Management Co. raised its position in Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company's stock valued at $98,000 after purchasing an additional 171 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Elastic by 11.7% in the second quarter. Invesco Ltd. now owns 95,332 shares of the company's stock valued at $8,039,000 after buying an additional 9,990 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Elastic by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company's stock worth $178,000 after buying an additional 1,688 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of Elastic by 24.7% during the second quarter. Cerity Partners LLC now owns 30,545 shares of the company's stock worth $2,576,000 after buying an additional 6,056 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.
Insiders Place Their Bets
In related news, CRO Mark Eugene Dodds sold 18,439 shares of Elastic stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,117,587.79. Following the completion of the sale, the executive directly owned 298,211 shares in the company, valued at $18,074,568.71. This trade represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Elastic stock in a transaction 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 sale, the insider directly owned 128,439 shares of the company's stock, valued at $7,784,687.79. This represents a 6.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 110,099 shares of company stock valued at $6,673,100 over the last 90 days. Corporate insiders own 12.70% of the company's stock.
Elastic Stock Up 0.4%
ESTC opened at $86.39 on Friday. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $96.07. The firm has a market cap of $8.98 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 19.47 and a beta of 0.98. The business has a 50 day moving average price of $63.23 and a 200 day moving average price of $57.68. 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 - Get Free Report) last issued its earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The firm had revenue of $450.68 million during the quarter, compared to analysts' expectations of $446.66 million. During the same period last year, the business earned $0.47 earnings per share. Elastic's quarterly revenue 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. Research analysts forecast that Elastic N.V. will post 0.26 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $59.00 price objective on shares of Elastic in a report on Thursday, June 25th. UBS Group reiterated a "buy" rating and set a $85.00 price target on shares of Elastic in a research report on Friday, May 29th. Jefferies Financial Group decreased their price target on Elastic from $95.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, May 29th. TD Cowen dropped their price objective on Elastic from $65.00 to $60.00 and set a "hold" rating for the company in a research note on Tuesday, May 26th. Finally, William Blair began coverage on Elastic in a report on Friday, May 22nd. They set an "outperform" rating for the company. 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 has an average rating of "Moderate Buy" and a consensus target price of $80.33.
View Our Latest Report on Elastic
About Elastic
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding ESTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elastic N.V. (NYSE:ESTC - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Elastic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elastic wasn't on the list.
While Elastic currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
