Bank of New York Mellon Corp Has $19.69 Million Stake in Elastic N.V. $ESTC

Bank of New York Mellon Corp reduced its position in Elastic N.V. (NYSE:ESTC - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 393,885 shares of the company's stock after selling 91,475 shares during the quarter. Bank of New York Mellon Corp owned about 0.38% of Elastic worth $19,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ESTC. Sound Income Strategies LLC bought a new position in Elastic in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new position in Elastic during the second quarter valued at approximately $31,000. Activest Wealth Management lifted its stake in Elastic by 3,181.2% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company's stock worth $40,000 after purchasing an additional 509 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock worth $42,000 after purchasing an additional 371 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Elastic by 16,200.0% in the 4th quarter. Quarry LP now owns 652 shares of the company's stock valued at $49,000 after purchasing an additional 648 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on ESTC shares. Wolfe Research set a $55.00 price target on Elastic in a report on Friday, May 29th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $59.00 price objective on shares of Elastic in a research note on Thursday, June 25th. Citigroup lifted their target price on Elastic from $95.00 to $104.00 and gave the company a "buy" rating in a research report on Friday, May 29th. Weiss Ratings upgraded Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group began coverage on Elastic in a research note on Tuesday, April 21st. They set a "neutral" rating and a $50.00 target price for the company. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $78.78.

Insider Activity at Elastic

In related news, insider Carolyn Herzog sold 9,485 shares of Elastic stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 in the company, valued at $7,784,687.79. This trade represents a 6.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ken Exner sold 18,449 shares of Elastic 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 $1,118,193.89. Following the sale, the insider owned 360,037 shares in the company, valued at approximately $21,821,842.57. This represents a 4.87% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 110,099 shares of company stock valued at $6,673,100. Corporate insiders own 12.70% of the company's stock.

Elastic Trading Up 3.7%

NYSE ESTC opened at $64.38 on Thursday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $96.07. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 14.06 and a beta of 1.00. The business's fifty day moving average is $59.89 and its 200 day moving average is $57.48.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. The business had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.Elastic's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. As a group, sell-side analysts expect that Elastic N.V. will post 0.26 EPS for the current fiscal year.

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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