Bayforest Capital Ltd Has $169,000 Stock Holdings in Elastic N.V. $ESTC

Key Points

• Bayforest Capital Ltd significantly decreased its stake in Elastic N.V. by 81.6%, holding 2,002 shares valued at $169,000 after selling 8,900 shares during the second quarter.
• Insiders, including Carolyn Herzog and Ken Exner, sold a total of 352,042 shares of Elastic stock in the last quarter, signifying a decrease in their ownership positions.
• Elastic recently reported (-$0.08) earnings per share for the quarter, missing estimates, while their revenue increased by 19.5% year-over-year, highlighting a mixed financial performance.

Bayforest Capital Ltd lessened its position in Elastic N.V. (NYSE:ESTC - Free Report) by 81.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,002 shares of the company's stock after selling 8,900 shares during the quarter. Bayforest Capital Ltd's holdings in Elastic were worth $169,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ESTC. Signaturefd LLC grew its holdings in Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after buying an additional 117 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in Elastic by 0.5% in the 1st quarter. Y.D. More Investments Ltd now owns 29,742 shares of the company's stock valued at $2,756,000 after buying an additional 145 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Elastic by 53.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company's stock valued at $40,000 after buying an additional 152 shares in the last quarter. WCM Investment Management LLC grew its holdings in Elastic by 0.7% in the 1st quarter. WCM Investment Management LLC now owns 23,811 shares of the company's stock valued at $2,183,000 after buying an additional 169 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Elastic by 5.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 3,997 shares of the company's stock valued at $337,000 after buying an additional 194 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 5,143 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $463,487.16. Following the transaction, the insider owned 94,677 shares in the company, valued at approximately $8,532,291.24. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ken Exner sold 6,290 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $566,854.80. Following the completion of the transaction, the insider owned 233,582 shares in the company, valued at approximately $21,050,409.84. The trade was a 2.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 352,042 shares of company stock valued at $31,087,394. 12.70% of the stock is currently owned by corporate insiders.

Elastic Trading Up 0.3%

Shares of ESTC stock opened at $80.47 on Friday. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of -100.59 and a beta of 1.05. The stock has a 50-day moving average of $83.60 and a 200-day moving average of $84.25. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59. Elastic N.V. has a 1-year low of $70.14 and a 1-year high of $118.84.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.50). The company had revenue of $415.29 million during the quarter, compared to analyst estimates of $397.13 million. Elastic had a negative net margin of 5.38% and a negative return on equity of 1.68%. The company's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. On average, equities research analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic declared that its board has authorized a share buyback plan on Thursday, October 9th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ESTC. Mizuho upped their target price on Elastic from $100.00 to $119.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Elastic in a research report on Friday, August 29th. Jefferies Financial Group upped their target price on Elastic from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Cowen reiterated a "hold" rating on shares of Elastic in a research report on Friday, August 29th. Finally, Stifel Nicolaus upped their target price on Elastic from $112.00 to $134.00 and gave the company a "buy" rating in a research report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $119.00.

Elastic Company 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.

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