Elastic N.V. $ESTC Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets cut its stake in Elastic by 55.3% in the fourth quarter, selling 514,527 shares and leaving it with 416,705 shares worth about $31.4 million.
• Elastic reported better-than-expected quarterly results, posting EPS of $0.61 versus estimates of $0.56 and revenue of $450.68 million, up 16% year over year.
• Wall Street remains broadly constructive on the stock, with analysts assigning Elastic a Moderate Buy consensus rating and an average price target of $80.04, though several firms recently trimmed their targets.

BNP Paribas Financial Markets reduced its stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 55.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 416,705 shares of the company's stock after selling 514,527 shares during the period. BNP Paribas Financial Markets owned 0.40% of Elastic worth $31,436,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Sound Income Strategies LLC purchased a new stake in Elastic in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new stake in Elastic in the 2nd quarter worth approximately $31,000. Activest Wealth Management grew its stake in Elastic by 3,181.3% 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. Smartleaf Asset Management LLC grew its stake in Elastic by 75.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 662 shares of the company's stock worth $58,000 after acquiring an additional 285 shares during the period. Finally, Larson Financial Group LLC grew its stake in Elastic by 1,347.1% in the 3rd quarter. Larson Financial Group LLC now owns 738 shares of the company's stock worth $62,000 after acquiring an additional 687 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ESTC has been the subject of several recent analyst reports. Barclays lowered their target price on shares of Elastic from $76.00 to $68.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Guggenheim lowered their target price on shares of Elastic from $116.00 to $106.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Scotiabank lowered their target price on shares of Elastic from $61.00 to $58.00 and set a "sector perform" rating for the company in a research note on Friday, May 29th. Jefferies Financial Group lowered their target price on shares of Elastic from $95.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 29th. Finally, Wolfe Research set a $55.00 target price on shares of Elastic in a research note on Friday, May 29th. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $80.04.

Elastic Stock Performance

Shares of ESTC stock opened at $65.36 on Friday. The company's fifty day simple moving average is $51.46 and its 200-day simple moving average is $61.89. Elastic N.V. has a 52 week low of $42.05 and a 52 week high of $96.07. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.72. The company has a market cap of $6.76 billion, a PE ratio of 18.67, a P/E/G ratio of 50.35 and a beta of 1.00.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results 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 net margin of 21.14% and a negative return on equity of 2.02%. The business had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same quarter last year, the firm posted $0.47 EPS. The business's revenue for the quarter 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. As a group, equities research analysts anticipate that Elastic N.V. will post 0.06 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Shay Banon sold 4,283 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $223,915.24. Following the sale, the chief technology officer directly owned 4,354,945 shares in the company, valued at approximately $227,676,524.60. This trade represents a 0.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 17,756 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $928,283.68. Following the sale, the chief executive officer owned 409,145 shares in the company, valued at approximately $21,390,100.60. The trade was a 4.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 38,188 shares of company stock worth $1,996,469. 12.70% of the stock is owned by company insiders.

Elastic Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.