Elastic N.V. $ESTC Position Increased by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Elastic N.V. by 49.8% during the first quarter, owning approximately 0.05% of the company, valued at $4.77 million.
• Elastic reported a quarterly earnings of $0.47 EPS, exceeding analyst estimates, with revenues up 15.9% year-over-year, totaling $388.43 million.
• Analysts have adjusted their price targets for Elastic, with a consensus average target of $110.60, and a current average rating of "Moderate Buy."

Algert Global LLC boosted its position in Elastic N.V. (NYSE:ESTC - Free Report) by 49.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,579 shares of the company's stock after purchasing an additional 17,810 shares during the quarter. Algert Global LLC owned about 0.05% of Elastic worth $4,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ESTC. Envestnet Asset Management Inc. increased its stake in shares of Elastic by 17.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 24,348 shares of the company's stock worth $2,412,000 after acquiring an additional 3,602 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Elastic by 843.7% in the 4th quarter. Russell Investments Group Ltd. now owns 14,448 shares of the company's stock worth $1,432,000 after acquiring an additional 12,917 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Elastic in the 4th quarter worth $374,000. Invesco Ltd. increased its stake in shares of Elastic by 5.4% in the 4th quarter. Invesco Ltd. now owns 76,329 shares of the company's stock worth $7,563,000 after acquiring an additional 3,887 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Elastic in the 4th quarter worth $3,019,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Price Performance

ESTC traded up $2.3750 during trading on Friday, reaching $79.9650. 1,404,441 shares of the stock were exchanged, compared to its average volume of 1,565,534. The business's 50 day moving average price is $82.74 and its two-hundred day moving average price is $89.01. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of -76.16 and a beta of 1.07. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $118.84.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.10. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%.The business had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. During the same period in the prior year, the business earned $0.21 earnings per share. The business's revenue was up 15.9% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.240-2.32 EPS. Q1 2026 guidance at 0.410-0.43 EPS. As a group, equities research analysts anticipate that Elastic N.V. will post -0.77 earnings per share for the current year.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 5,117 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the completion of the sale, the chief technology officer owned 4,560,291 shares in the company, valued at approximately $396,334,890.81. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ken Exner sold 6,918 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $601,243.38. Following the sale, the insider owned 230,494 shares of the company's stock, valued at approximately $20,032,233.54. This trade represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,913 shares of company stock valued at $4,416,324 over the last three months. Insiders own 15.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ESTC. Wells Fargo & Company cut their price objective on Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. KeyCorp initiated coverage on Elastic in a research note on Tuesday, June 10th. They issued a "sector weight" rating for the company. UBS Group restated a "buy" rating and set a $95.00 target price (down previously from $148.00) on shares of Elastic in a research note on Wednesday, August 13th. Cantor Fitzgerald reduced their price objective on Elastic from $109.00 to $92.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Finally, Wall Street Zen raised Elastic from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $110.60.

About Elastic

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.