Chicago Partners Investment Group LLC Invests $295,000 in Elastic N.V. $ESTC

Key Points

• Chicago Partners Investment Group LLC has acquired a new position in Elastic N.V. (NYSE:ESTC), investing approximately $295,000 for 3,392 shares during the second quarter.
• Multiple hedge funds have recently increased their stakes in Elastic, with over 97% of the stock now owned by institutional investors.
• Elastic's latest earnings report revealed a revenue increase of 19.5% year-over-year, though the company reported a loss of ($0.08) EPS against analysts' expectations.

Chicago Partners Investment Group LLC purchased a new position in shares of Elastic N.V. (NYSE:ESTC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,392 shares of the company's stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESTC. GAMMA Investing LLC boosted its position in shares of Elastic by 134.6% during the first quarter. GAMMA Investing LLC now owns 570 shares of the company's stock worth $51,000 after purchasing an additional 327 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Elastic during the first quarter worth $1,835,000. Janney Montgomery Scott LLC boosted its position in shares of Elastic by 86.7% during the first quarter. Janney Montgomery Scott LLC now owns 3,803 shares of the company's stock worth $339,000 after purchasing an additional 1,766 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Elastic during the first quarter worth $205,000. Finally, Perigon Wealth Management LLC lifted its position in Elastic by 16.9% in the 1st quarter. Perigon Wealth Management LLC now owns 5,725 shares of the company's stock valued at $510,000 after acquiring an additional 828 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Elastic news, CRO Mark Eugene Dodds sold 5,037 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $453,934.44. Following the transaction, the executive owned 167,284 shares in the company, valued at $15,075,634.08. This represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Shay Banon sold 104,326 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.34, for a total transaction of $9,424,810.84. Following the transaction, the chief technology officer owned 4,363,780 shares in the company, valued at approximately $394,223,885.20. The trade was a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 352,042 shares of company stock worth $31,087,394 in the last 90 days. Corporate insiders own 12.70% of the company's stock.

Analyst Upgrades and Downgrades

ESTC has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Elastic from a "hold" rating to a "buy" rating in a research note on Saturday, October 11th. Stifel Nicolaus boosted their price objective on shares of Elastic from $112.00 to $134.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Wells Fargo & Company initiated coverage on shares of Elastic in a research note on Tuesday, September 30th. They set an "equal weight" rating and a $90.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of Elastic from $106.00 to $125.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Elastic from $111.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given 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 has a consensus rating of "Moderate Buy" and a consensus price target of $119.00.

Elastic Stock Up 1.0%

Shares of ESTC opened at $88.00 on Friday. Elastic N.V. has a 52 week low of $70.14 and a 52 week high of $118.84. The firm has a market cap of $9.35 billion, a P/E ratio of -110.00 and a beta of 1.05. The firm's 50-day simple moving average is $84.85 and its 200 day simple moving average is $84.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09.

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

Elastic declared that its Board of Directors has initiated a share buyback program on Thursday, October 9th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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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