LPL Financial LLC Sells 3,419 Shares of Elastic N.V. $ESTC

Key Points

• LPL Financial LLC reduced its holdings in Elastic N.V. by 13.2%, owning 22,413 shares valued at approximately $1,997,000 after selling 3,419 shares in the first quarter.
• Elastic reported a 15.9% year-over-year increase in revenue to $388.43 million for the quarter, along with an earnings per share (EPS) of $0.47, exceeding analyst expectations.
• Insider sales include CEO Ashutosh Kulkarni selling 22,901 shares at about $86.91 per share, reducing their ownership by 4.79%.

LPL Financial LLC decreased its holdings in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 13.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,413 shares of the company's stock after selling 3,419 shares during the period. LPL Financial LLC's holdings in Elastic were worth $1,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in 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 purchasing an additional 3,602 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Elastic during the 4th quarter valued at about $374,000. Invesco Ltd. increased its position in shares of Elastic by 5.4% during the fourth quarter. Invesco Ltd. now owns 76,329 shares of the company's stock valued at $7,563,000 after buying an additional 3,887 shares during the period. Raymond James Financial Inc. bought a new position in Elastic in the fourth quarter worth about $3,019,000. Finally, Mariner LLC lifted its holdings in Elastic by 16.6% in the fourth quarter. Mariner LLC now owns 6,249 shares of the company's stock worth $619,000 after buying an additional 889 shares during the period. Institutional investors own 97.03% of the company's stock.

Elastic Stock Up 3.1%

Shares of NYSE:ESTC traded up $2.3750 on Friday, hitting $79.9650. 1,404,441 shares of the company traded hands, compared to its average volume of 1,576,453. The stock has a 50 day simple moving average of $82.74 and a 200-day simple moving average of $88.83. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.61. The company has a market cap of $8.44 billion, a PE ratio of -76.16 and a beta of 1.07. Elastic N.V. has a 52 week low of $69.00 and a 52 week high of $118.84.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.37 by $0.10. The company had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. Elastic's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. 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, research analysts expect that Elastic N.V. will post -0.77 earnings per share for the current year.

Insider Activity

In other Elastic news, CTO Shay Banon sold 5,117 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $444,718.47. Following the sale, the chief technology officer directly owned 4,560,291 shares in the company, valued at approximately $396,334,890.81. This trade represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carolyn Herzog sold 5,702 shares of Elastic stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $495,560.82. Following the completion of the sale, the insider directly owned 93,985 shares of the company's stock, valued at approximately $8,168,236.35. The trade was a 5.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,913 shares of company stock valued at $4,416,324. Company insiders own 15.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Monness Crespi & Hardt upgraded Elastic from a "neutral" rating to a "buy" rating and set a $111.00 target price on the stock in a report on Friday, June 27th. Robert W. Baird reduced their price target on Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. TD Securities lowered their price objective on Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Scotiabank dropped their target price on shares of Elastic from $137.00 to $95.00 and set a "sector outperform" rating on the stock in a report on Friday, May 30th. Finally, Stifel Nicolaus decreased their price target on shares of Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 30th. One equities research 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. Based on data from MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and an average price target 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.