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

Key Points

• Assenagon Asset Management cut its Elastic stake by 90.7% in the third quarter, selling 820,848 shares and retaining 84,393 shares worth approximately $7.7 million.
• Institutional investors own 97.03% of Elastic, while insiders sold 4.59 million shares valued at $422.9 million over the past three months.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $98.56. Elastic recently exceeded earnings and revenue estimates, reporting $0.70 in quarterly EPS and $478.1 million in revenue, up 15.2% year over year.

Assenagon Asset Management S.A. cut its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 90.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 84,393 shares of the company's stock after selling 820,848 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.08% of Elastic worth $7,739,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its stake in shares of Elastic by 43.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company's stock worth $324,550,000 after buying an additional 1,958,219 shares during the last quarter. First Trust Advisors LP increased its position in shares of Elastic by 516.1% during the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company's stock valued at $131,356,000 after acquiring an additional 2,201,140 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Elastic by 78.8% during the first quarter. Bank of Nova Scotia now owns 752,434 shares of the company's stock worth $37,614,000 after acquiring an additional 331,625 shares during the period. Wellington Management Group LLP bought a new stake in Elastic during the second quarter worth $41,889,000. Finally, SG Americas Securities LLC boosted its position in Elastic by 6,125.6% in the first quarter. SG Americas Securities LLC now owns 548,722 shares of the company's stock worth $27,431,000 after purchasing an additional 539,908 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Elastic

In related news, CTO Shay Banon sold 84,207 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $84.64, for a total transaction of $7,127,280.48. Following the sale, the chief technology officer owned 3,910,563 shares of the company's stock, valued at approximately $330,990,052.32. This represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jane Bone sold 1,542 shares of the firm's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total value of $135,356.76. Following the completion of the transaction, the chief accounting officer owned 47,697 shares of the company's stock, valued at approximately $4,186,842.66. This represents a 3.13% 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 have sold a total of 4,585,641 shares of company stock worth $422,851,366 in the last three months. 12.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ESTC has been the subject of several research reports. Scotiabank increased their price target on shares of Elastic from $58.00 to $84.00 and gave the company a "sector perform" rating in a research report on Friday, August 28th. JPMorgan Chase & Co. lifted their price objective on shares of Elastic from $93.00 to $105.00 and gave the stock an "overweight" rating in a research report on Friday, August 28th. Guggenheim lifted their price objective on shares of Elastic from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Royal Bank Of Canada boosted their target price on shares of Elastic from $70.00 to $87.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Finally, Citigroup increased their target price on shares of Elastic from $104.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, August 28th. One 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's stock. According to data from MarketBeat, Elastic presently has an average rating of "Moderate Buy" and a consensus target price of $98.56.

Elastic Stock Up 1.1%

Shares of NYSE ESTC opened at $95.60 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a market capitalization of $10.04 billion, a PE ratio of 26.78, a P/E/G ratio of 7.94 and a beta of 1.03. Elastic N.V. has a one year low of $42.05 and a one year high of $108.00. The business's fifty day moving average price is $89.57 and its 200-day moving average price is $68.49.

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

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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