Elastic N.V. $ESTC Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management sharply boosted its Elastic stake by 324.7% in Q1, buying 688,091 more shares and ending with 900,017 shares worth about $45 million.
• Elastic reported better-than-expected quarterly results, with EPS of $0.61 versus the $0.56 estimate and revenue of $450.68 million, up 16% year over year.
• Despite the solid earnings, the stock was down 8.8% and several analysts trimmed price targets, though the overall consensus remains a Moderate Buy with an average target of $80.04.

Assenagon Asset Management S.A. lifted its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 324.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 900,017 shares of the company's stock after acquiring an additional 688,091 shares during the period. Assenagon Asset Management S.A. owned 0.87% of Elastic worth $44,992,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Sound Income Strategies LLC acquired a new position in shares of Elastic during the fourth quarter valued at $25,000. Geneos Wealth Management Inc. bought a new position in Elastic in the 2nd quarter valued at about $31,000. Activest Wealth Management increased its stake in Elastic by 3,181.2% during the 4th quarter. Activest Wealth Management now owns 525 shares of the company's stock valued at $40,000 after buying an additional 509 shares during the period. Aster Capital Management DIFC Ltd increased its stake in Elastic by 206.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock valued at $42,000 after buying an additional 371 shares during the period. Finally, Quarry LP raised its position in shares of Elastic by 16,200.0% during the 4th quarter. Quarry LP now owns 652 shares of the company's stock worth $49,000 after buying an additional 648 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Insiders Place Their Bets

In other news, CFO Navam Welihinda sold 12,961 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $785,566.21. Following the completion of the sale, the chief financial officer owned 209,254 shares of the company's stock, valued at $12,682,884.94. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Mark Eugene Dodds sold 18,439 shares of Elastic stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $1,117,587.79. Following the transaction, the executive owned 298,211 shares in the company, valued at $18,074,568.71. This represents a 5.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 110,099 shares of company stock valued at $6,673,100 over the last 90 days. 12.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Elastic from $95.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 29th. Piper Sandler dropped their target price on Elastic from $110.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, February 27th. Guggenheim cut their target price on Elastic from $116.00 to $106.00 and set a "buy" rating for the company in a research report on Tuesday, May 19th. TD Cowen decreased their price target on Elastic from $65.00 to $60.00 and set a "hold" rating for the company in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company dropped their price objective on Elastic from $75.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Friday, February 27th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $80.04.

Elastic Trading Down 8.8%

Elastic stock opened at $53.53 on Friday. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 15.09 and a beta of 1.00. Elastic N.V. has a 1 year low of $42.05 and a 1 year high of $96.07. The firm's 50 day moving average price is $54.79 and its two-hundred day moving average price is $60.21. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The company's quarterly revenue was up 16.0% compared to the same quarter last year. 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, research analysts predict that Elastic N.V. will post 0.23 EPS for the current fiscal year.

Elastic Profile

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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