California State Teachers Retirement System Boosts Position in Elastic N.V. $ESTC

California State Teachers Retirement System grew its stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,579 shares of the company's stock after buying an additional 18,716 shares during the period. California State Teachers Retirement System owned 0.10% of Elastic worth $5,228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC purchased a new position in shares of Elastic during the 4th quarter valued at $25,000. Geneos Wealth Management Inc. bought a new stake in Elastic during the second quarter valued at $31,000. Bessemer Group Inc. bought a new stake in Elastic during the first quarter valued at $25,000. Activest Wealth Management grew its position 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 buying an additional 509 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position 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 buying an additional 371 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Stock Performance

NYSE ESTC opened at $69.99 on Friday. The company has a 50-day simple moving average of $61.50 and a two-hundred day simple moving average of $57.21. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 15.78 and a beta of 0.98. 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 (NYSE:ESTC - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, equities analysts forecast that Elastic N.V. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ESTC. Wolfe Research set a $55.00 price target on Elastic in a research report on Friday, May 29th. Oppenheimer decreased their price objective on shares of Elastic from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, May 29th. William Blair assumed coverage on shares of Elastic in a research note on Friday, May 22nd. They issued an "outperform" rating on the stock. Piper Sandler reiterated an "overweight" rating on shares of Elastic in a research report on Friday, June 26th. Finally, Wall Street Zen cut shares of Elastic from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Seventeen investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $78.78.

Insider Transactions at Elastic

In related news, CFO Navam Welihinda sold 12,961 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $785,566.21. Following the completion of the sale, the chief financial officer directly owned 209,254 shares in the company, valued at $12,682,884.94. This represents a 5.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,118,193.89. Following the sale, the insider directly owned 360,037 shares of the company's stock, valued at $21,821,842.57. The trade was a 4.87% 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. In the last three months, insiders have sold 110,099 shares of company stock valued at $6,673,100. 12.70% of the stock is currently owned by insiders.

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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