Benjamin Edwards Inc. Takes $474,000 Position in Elastic N.V. $ESTC

Key Points

• Benjamin Edwards Inc. has invested approximately $474,000 in Elastic N.V. by acquiring 5,320 shares in the first quarter.
• Elastic N.V. experienced several changes in institutional holdings, with institutional investors now owning 97.03% of the company's stock.
• Shares of Elastic (NYSE:ESTC) have risen 1.3% recently, trading at $77.41, with analysts giving it an average rating of "Moderate Buy".

Benjamin Edwards Inc. purchased a new stake in Elastic N.V. (NYSE:ESTC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,320 shares of the company's stock, valued at approximately $474,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Envestnet Asset Management Inc. raised its stake in shares of Elastic by 17.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 24,348 shares of the company's stock valued at $2,412,000 after purchasing an additional 3,602 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Elastic by 843.7% in the 4th quarter. Russell Investments Group Ltd. now owns 14,448 shares of the company's stock valued at $1,432,000 after acquiring an additional 12,917 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Elastic in the 4th quarter valued at about $374,000. Invesco Ltd. grew its holdings in Elastic by 5.4% during the fourth quarter. Invesco Ltd. now owns 76,329 shares of the company's stock worth $7,563,000 after purchasing an additional 3,887 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Elastic during the fourth quarter worth about $3,019,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ESTC. Oppenheimer cut their price objective on shares of Elastic from $120.00 to $100.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. Rosenblatt Securities lowered their price objective on shares of Elastic from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Canaccord Genuity Group lowered their price objective on shares of Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Robert W. Baird reduced their price objective on Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Finally, Wells Fargo & Company reduced their price objective on Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $110.60.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 5,117 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $444,718.47. Following the completion of the transaction, the chief technology officer directly owned 4,560,291 shares of the company's stock, valued at $396,334,890.81. This trade represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Mark Eugene Dodds sold 5,514 shares of Elastic stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $479,221.74. Following the sale, the executive directly owned 165,443 shares of the company's stock, valued at $14,378,651.13. This represents a 3.23% 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. 15.90% of the stock is currently owned by company insiders.

Elastic Stock Down 0.4%

Shares of ESTC traded down $0.2750 on Tuesday, reaching $78.2450. The company's stock had a trading volume of 270,856 shares, compared to its average volume of 1,648,348. 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 twelve month low of $69.00 and a twelve month high of $118.84. The stock has a market capitalization of $8.26 billion, a PE ratio of -74.43 and a beta of 1.07. The firm has a fifty day moving average of $83.11 and a 200-day moving average of $89.84.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.37 by $0.10. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The firm had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. During the same quarter last year, the business posted $0.21 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. 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 year.

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.