Elastic N.V. $ESTC Shares Acquired by Smith Group Asset Management LLC

Key Points

• Smith Group Asset Management LLC has increased its stake in Elastic N.V. by 11.2%, now owning 31,700 shares valued at approximately $2.67 million.
• CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock for about $440,600, decreasing his ownership by 1.09%.
• Several analysts have raised their price targets on Elastic, with the highest now at $134 from Stifel Nicolaus, indicating growing confidence in the stock's potential.

Smith Group Asset Management LLC boosted its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 11.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,700 shares of the company's stock after purchasing an additional 3,200 shares during the period. Smith Group Asset Management LLC's holdings in Elastic were worth $2,673,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ESTC. Liberty One Investment Management LLC increased its position in shares of Elastic by 55.7% in the 2nd quarter. Liberty One Investment Management LLC now owns 2,682 shares of the company's stock worth $226,000 after purchasing an additional 959 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Elastic by 7.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 19,746 shares of the company's stock worth $1,637,000 after purchasing an additional 1,401 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Elastic in the 2nd quarter worth about $295,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Elastic in the 2nd quarter worth about $1,388,000. Finally, Stratos Wealth Partners LTD. increased its position in shares of Elastic by 34.3% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 6,091 shares of the company's stock worth $514,000 after purchasing an additional 1,556 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $88.12, for a total value of $440,600.00. Following the sale, the chief executive officer directly owned 452,314 shares in the company, valued at $39,857,909.68. This trade represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jane E. Bone sold 1,250 shares of Elastic stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $87.22, for a total transaction of $109,025.00. Following the completion of the sale, the chief accounting officer owned 37,633 shares in the company, valued at approximately $3,282,350.26. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 352,042 shares of company stock worth $31,087,394 over the last 90 days. Corporate insiders own 12.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ESTC shares. Morgan Stanley boosted their target price on shares of Elastic from $115.00 to $120.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Stifel Nicolaus lifted their price target on shares of Elastic from $112.00 to $134.00 and gave the company a "buy" rating in a report on Friday, August 29th. Barclays lifted their price target on shares of Elastic from $105.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Cowen reaffirmed a "hold" rating on shares of Elastic in a report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Elastic in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $119.00.

Elastic Trading Up 1.2%

Shares of NYSE:ESTC opened at $87.10 on Friday. The company has a market cap of $9.26 billion, a PE ratio of -108.87 and a beta of 1.05. The company's 50-day moving average price is $84.64 and its 200 day moving average price is $84.31. Elastic N.V. has a fifty-two week low of $70.14 and a fifty-two week high of $118.84. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59.

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

Elastic announced that its board has approved a share repurchase program on Thursday, October 9th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are 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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