Crossmark Global Holdings Inc. Makes New $2.28 Million Investment in Elastic N.V. $ESTC

Key Points

• Crossmark Global Holdings acquired 24,855 Elastic shares worth approximately $2.28 million during the third quarter. Institutional investors collectively own 97.03% of the company.
• Elastic exceeded quarterly expectations, reporting $0.70 in earnings per share versus the $0.58 consensus estimate and revenue of $478.11 million, up 15.2% year over year.
• Analysts maintain a “Moderate Buy” consensus with a $98.56 price target, while insiders have sold roughly $422.9 million of stock over the past 90 days, including a director’s $188.3 million sale.

Crossmark Global Holdings Inc. bought a new stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,855 shares of the company's stock, valued at approximately $2,279,000.

Other hedge funds also recently bought and sold shares of the company. 180 Wealth Advisors LLC lifted its position in shares of Elastic by 4.6% in the second quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company's stock valued at $344,000 after acquiring an additional 263 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Elastic by 11.2% during the first quarter. HB Wealth Management LLC now owns 4,363 shares of the company's stock worth $218,000 after purchasing an additional 441 shares in the last quarter. Fortitude Family Office LLC raised its stake in Elastic by 303.7% during the 3rd quarter. Fortitude Family Office LLC now owns 650 shares of the company's stock valued at $60,000 after purchasing an additional 489 shares during the period. Bessemer Group Inc. bought a new stake in Elastic during the 1st quarter valued at approximately $25,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Elastic by 10.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,608 shares of the company's stock valued at $514,000 after purchasing an additional 514 shares during the period. Institutional investors own 97.03% of the company's stock.

Elastic Stock Up 4.5%

Shares of ESTC opened at $102.61 on Friday. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 8.60 and a beta of 1.03. Elastic N.V. has a 1 year low of $42.05 and a 1 year high of $108.00. The business's 50 day simple moving average is $90.57 and its 200-day simple moving average is $69.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81.

Elastic (NYSE:ESTC - Get Free Report) last posted its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.12. The firm had revenue of $478.11 million during the quarter, compared to analyst estimates of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. Elastic's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, equities analysts expect that Elastic N.V. will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In other news, CRO Mark Dodds sold 10,000 shares of Elastic stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $92.58, for a total value of $925,800.00. Following the completion of the transaction, the executive owned 278,538 shares in the company, valued at approximately $25,787,048.04. The trade was a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Schuurman sold 2,000,000 shares of the business's stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $94.15, for a total value of $188,300,000.00. Following the transaction, the director directly owned 2,504,600 shares in the company, valued at approximately $235,808,090. This represents a 44.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,585,641 shares of company stock valued at $422,851,366. Corporate insiders own 12.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Elastic from $100.00 to $118.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. TD Cowen upped their target price on shares of Elastic from $55.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, August 25th. Wells Fargo & Company raised their target price on shares of Elastic from $60.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 25th. Monness Crespi & Hardt upgraded shares of Elastic from a "neutral" rating to a "buy" rating and set a $120.00 price target on the stock in a report on Friday, October 9th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Elastic in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $98.56.

About Elastic

Elastic N.V. develops search-powered software and services for organizations worldwide. Its technology helps businesses search, analyze and act on structured and unstructured data across applications, websites, infrastructure and security environments. Elastic offers its products through cloud-based and self-managed deployment options.

The company's core platform, the Elastic Search AI Platform, is built around Elasticsearch and Kibana. Its offerings include Elastic Cloud, a managed cloud service, as well as solutions for enterprise search, observability and security.

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