Elastic N.V. $ESTC Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 56.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,935 shares of the company's stock after selling 31,333 shares during the quarter. Sei Investments Co.'s holdings in Elastic were worth $1,197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ESTC. AQR Capital Management LLC lifted its holdings in shares of Elastic by 153.4% during the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company's stock worth $569,201,000 after purchasing an additional 4,567,720 shares during the period. Pictet Asset Management Holding SA lifted 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 acquiring an additional 1,958,219 shares during the period. FIL Ltd lifted its stake in shares of Elastic by 36.9% in the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company's stock worth $273,753,000 after acquiring an additional 977,578 shares during the period. First Trust Advisors LP boosted its holdings in shares of Elastic by 516.1% in 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Elastic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company's stock worth $130,124,000 after acquiring an additional 49,198 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Analysts Set New Price Targets

ESTC has been the topic of a number of analyst reports. Zacks Research raised Elastic from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Jefferies Financial Group reduced their price target on Elastic from $95.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 29th. Rothschild & Co Redburn initiated coverage on Elastic in a research note on Thursday, April 23rd. They issued a "neutral" rating and a $49.00 price target on the stock. Scotiabank cut their price objective on Elastic from $61.00 to $58.00 and set a "sector perform" rating for the company in a research report on Friday, May 29th. Finally, Weiss Ratings raised Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. Seventeen investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.78.

Insider Activity

In related news, insider Ken Exner sold 18,449 shares of the company's 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 $1,118,193.89. Following the sale, the insider owned 360,037 shares of the company's stock, valued at approximately $21,821,842.57. This represents a 4.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ashutosh Kulkarni sold 40,373 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $2,447,007.53. Following the sale, the chief executive officer owned 628,752 shares in the company, valued at approximately $38,108,658.72. This trade represents a 6.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is owned by corporate insiders.

Elastic Stock Performance

NYSE:ESTC opened at $76.42 on Wednesday. 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 firm has a 50-day moving average price of $62.06 and a two-hundred day moving average price of $57.34. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $96.07. The company has a market capitalization of $7.94 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 17.28 and a beta of 0.98.

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

Elastic 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.

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