Elastic N.V. $ESTC Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Elastic stake by 21.5% in the first quarter, selling 88,142 shares and retaining 321,363 shares valued at approximately $16.1 million. Institutional investors collectively own 97.03% of ESTC.
• Analyst sentiment remains positive but has softened: Elastic has a “Moderate Buy” consensus rating and a $78.78 average price target, despite several firms recently lowering targets and ratings.
• Elastic’s latest quarterly results exceeded expectations, with EPS of $0.61 versus a $0.56 estimate and revenue of $450.68 million, up 16% year over year. Shares opened at $64.30, while insiders sold roughly $6.7 million of stock over the past 90 days, primarily to cover tax obligations.

Arrowstreet Capital Limited Partnership lessened its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 21.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 321,363 shares of the company's stock after selling 88,142 shares during the period. Arrowstreet Capital Limited Partnership owned 0.31% of Elastic worth $16,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ESTC. Sound Income Strategies LLC acquired a new position in Elastic in the 4th quarter valued at $25,000. Bessemer Group Inc. acquired a new stake in shares of Elastic in the 1st quarter worth $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic in the 2nd quarter worth $31,000. Activest Wealth Management lifted its stake in shares of Elastic by 3,181.2% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company's stock worth $40,000 after acquiring an additional 509 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its holdings in shares of Elastic by 206.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock valued at $42,000 after acquiring an additional 371 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ESTC has been the topic of a number of recent analyst reports. TD Cowen dropped their price target on shares of Elastic from $65.00 to $60.00 and set a "hold" rating on the stock in a research note on Tuesday, May 26th. Morgan Stanley lowered Elastic from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $73.00 to $66.00 in a report on Tuesday, July 21st. Oppenheimer dropped their target price on Elastic from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, May 29th. Weiss Ratings raised Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. Finally, Barclays decreased their price target on Elastic from $76.00 to $68.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Seventeen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, Elastic presently has an average rating of "Moderate Buy" and a consensus target price of $78.78.

Elastic Trading Down 0.2%

Shares of Elastic stock opened at $64.30 on Friday. The company has a 50-day moving average of $60.10 and a two-hundred day moving average of $57.38. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The stock has a market cap of $6.68 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 14.59 and a beta of 1.00.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The business had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 EPS. 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 anticipate that Elastic N.V. will post 0.26 EPS for the current fiscal year.

Insider Activity at Elastic

In other news, CAO Jane E. Bone sold 1,104 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $66,913.44. Following the completion of the transaction, the chief accounting officer directly owned 53,415 shares of the company's stock, valued at $3,237,483.15. This trade represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 that occurred on Tuesday, June 9th. The stock was 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 of the company's stock, valued at $18,074,568.71. This represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 110,099 shares of company stock valued at $6,673,100 in the last 90 days. 12.70% of the stock is owned by corporate insiders.

About Elastic

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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