BNP Paribas Financial Markets Acquires 98,879 Shares of Elastic N.V. $ESTC

Key Points

• BNP Paribas Financial Markets increased its stake in Elastic by 11.9%, buying 98,879 shares to hold 931,232 shares (about 0.88% of the company) valued at approximately $78.68 million.
• Elastic beat quarterly estimates with EPS $0.73 vs. $0.64 and revenue of $449.9M (up 17.7% year-over-year), though the company still shows a negative net margin and negative return on equity.
• Sell-side analysts maintain a consensus rating of "Moderate Buy" with an average price target of $95.25, even as several firms have recently trimmed their targets.

BNP Paribas Financial Markets boosted its stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 931,232 shares of the company's stock after buying an additional 98,879 shares during the period. BNP Paribas Financial Markets owned 0.88% of Elastic worth $78,680,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Elastic by 7.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company's stock worth $862,322,000 after acquiring an additional 705,991 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Elastic by 302.1% in the second quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company's stock valued at $78,649,000 after purchasing an additional 700,697 shares during the last quarter. Temasek Holdings Private Ltd purchased a new position in Elastic in the second quarter valued at about $48,115,000. AQR Capital Management LLC raised its holdings in Elastic by 30.5% in the second quarter. AQR Capital Management LLC now owns 1,832,215 shares of the company's stock worth $153,100,000 after purchasing an additional 428,356 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Elastic by 823.7% during the second quarter. SG Americas Securities LLC now owns 370,321 shares of the company's stock valued at $31,229,000 after buying an additional 330,230 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Wall Street Analysts Forecast Growth

ESTC has been the topic of a number of recent analyst reports. Oppenheimer lowered their price target on shares of Elastic from $100.00 to $85.00 and set an "outperform" rating on the stock in a report on Friday, February 27th. Scotiabank decreased their target price on shares of Elastic from $90.00 to $76.00 and set a "sector perform" rating for the company in a research report on Friday, November 21st. Royal Bank Of Canada lowered their target price on shares of Elastic from $115.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, January 5th. UBS Group cut their price target on shares of Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, November 21st. Finally, Wells Fargo & Company reduced their price target on Elastic from $75.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Friday, February 27th. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $95.25.

Insider Transactions at Elastic

In related news, insider Ken Exner sold 4,310 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $225,326.80. Following the transaction, the insider directly owned 222,728 shares of the company's stock, valued at $11,644,219.84. This represents a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carolyn Herzog sold 3,989 shares of Elastic stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $208,544.92. Following the sale, the insider directly owned 85,335 shares of the company's stock, valued at approximately $4,461,313.80. This represents a 4.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 44,375 shares of company stock worth $2,464,797 over the last 90 days. Insiders own 12.70% of the company's stock.

Elastic Stock Performance

Shares of Elastic stock opened at $51.64 on Friday. The company has a 50 day moving average price of $64.08 and a 200 day moving average price of $76.29. The firm has a market capitalization of $5.34 billion, a P/E ratio of -64.54, a PEG ratio of 67.90 and a beta of 0.98. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. Elastic N.V. has a 52 week low of $49.90 and a 52 week high of $103.79.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.09. The business had revenue of $449.88 million for the quarter, compared to analyst estimates of $438.37 million. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. Elastic's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 EPS. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. Sell-side analysts expect that Elastic N.V. will post -0.77 EPS for the current 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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