Elastic N.V. $ESTC Stock Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management reduced its Elastic stake by 17.7% in the third quarter, selling 16,295 shares and retaining 75,685 shares valued at approximately $6.94 million. Institutional investors collectively own 97.03% of the company.
• Elastic reported quarterly revenue of $478.11 million, up 15.2% year over year, and adjusted earnings of $0.70 per share, exceeding analysts’ $0.58 estimate. The stock recently traded at $102.61, near its 52-week high of $108.
• Insiders sold approximately $422.9 million of Elastic stock over the past 90 days, including a $188.3 million sale by director Steven Schuurman. Analysts maintain a “Moderate Buy” consensus with an average price target of $98.56.

Robeco Institutional Asset Management B.V. reduced its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 17.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,685 shares of the company's stock after selling 16,295 shares during the period. Robeco Institutional Asset Management B.V. owned 0.07% of Elastic worth $6,940,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pictet Asset Management Holding SA raised its stake in shares of Elastic by 43.2% during the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company's stock valued at $324,550,000 after acquiring an additional 1,958,219 shares in the last quarter. First Trust Advisors LP grew its stake in Elastic by 516.1% in the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company's stock worth $131,356,000 after purchasing an additional 2,201,140 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Elastic by 0.6% in the second quarter. Assenagon Asset Management S.A. now owns 905,241 shares of the company's stock worth $51,617,000 after purchasing an additional 5,224 shares in the last quarter. Bank of Nova Scotia raised its position in Elastic by 78.8% during the 1st quarter. Bank of Nova Scotia now owns 752,434 shares of the company's stock valued at $37,614,000 after purchasing an additional 331,625 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in Elastic during the 2nd quarter valued at $41,889,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Stock Up 4.5%

Elastic stock opened at $102.61 on Friday. The business has a fifty day moving average of $90.57 and a two-hundred day moving average of $69.40. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. The firm has a market cap of $10.77 billion, a P/E ratio of 28.74, a P/E/G ratio of 8.60 and a beta of 1.03. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $108.00.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.12. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%. The business had revenue of $478.11 million for the quarter, compared to analysts' expectations of $469.75 million. During the same quarter last year, the firm earned $0.60 EPS. The business's revenue for the quarter 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, analysts forecast that Elastic N.V. will post 0.65 earnings per share for the current fiscal year.

Insider Activity at Elastic

In other Elastic news, Director Steven Schuurman sold 2,000,000 shares of Elastic stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $94.15, for a total value of $188,300,000.00. Following the transaction, the director owned 2,504,600 shares in the company, valued at $235,808,090. The trade was a 44.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 84,207 shares of Elastic stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $84.64, for a total value of $7,127,280.48. Following the completion of the transaction, the chief technology officer owned 3,910,563 shares in the company, valued at $330,990,052.32. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,585,641 shares of company stock valued at $422,851,366 over the last 90 days. Company insiders own 12.70% of the company's stock.

Analysts Set New Price Targets

ESTC has been the subject of several recent research reports. Robert W. Baird lifted their price objective on Elastic from $95.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, August 28th. DA Davidson upped their price objective on shares of Elastic from $60.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 26th. Royal Bank Of Canada increased their target price on shares of Elastic from $70.00 to $87.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Citigroup increased their target price on shares of Elastic from $104.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, August 28th. Finally, Morgan Stanley raised their target price on shares of Elastic from $66.00 to $75.00 and gave the company an "equal weight" 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 given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $98.56.

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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