Fuller & Thaler Asset Management Inc. Boosts Stake in Elastic N.V. $ESTC

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Elastic N.V. by 32.6%, acquiring an additional 151,551 shares, bringing its total ownership to approximately 616,133 shares worth $54.9 million.
• Research firms have upgraded their ratings for Elastic, with a consensus rating of "Moderate Buy" and a price target averaging around $110.60.
• Insiders have recently sold shares, with CEO Ashutosh Kulkarni disposing of 22,901 shares for about $1.99 million in value, reflecting a decrease in their ownership stake.

Fuller & Thaler Asset Management Inc. grew its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 616,133 shares of the company's stock after acquiring an additional 151,551 shares during the period. Fuller & Thaler Asset Management Inc. owned about 0.59% of Elastic worth $54,897,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ESTC. Massachusetts Financial Services Co. MA raised its holdings in shares of Elastic by 5,437.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock valued at $203,872,000 after acquiring an additional 2,246,808 shares in the last quarter. Sylebra Capital LLC boosted its position in Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after acquiring an additional 1,756,842 shares in the last quarter. Soma Equity Partners LP grew its holdings in shares of Elastic by 61.5% during the 4th quarter. Soma Equity Partners LP now owns 989,349 shares of the company's stock worth $98,025,000 after acquiring an additional 376,660 shares during the period. Assenagon Asset Management S.A. boosted its stake in Elastic by 137.1% during the first quarter. Assenagon Asset Management S.A. now owns 604,519 shares of the company's stock worth $53,863,000 after acquiring an additional 349,507 shares in the last quarter. Finally, No Street GP LP bought a new position in shares of Elastic during the fourth quarter valued at approximately $33,687,000. 97.03% of the stock is owned by institutional investors.

Elastic Stock Performance

Shares of Elastic stock traded up $2.3750 on Friday, hitting $79.9650. 1,404,441 shares of the company's stock were exchanged, compared to its average volume of 1,565,534. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $8.44 billion, a PE ratio of -76.16 and a beta of 1.07. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $118.84. The company has a 50-day simple moving average of $82.74 and a 200-day simple moving average of $89.18.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.10. The company had revenue of $388.43 million for the quarter, compared to analysts' expectations of $380.61 million. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The firm's revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $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, equities analysts anticipate that Elastic N.V. will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ESTC shares. Stifel Nicolaus lowered their price objective on Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Piper Sandler reduced their price objective on Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Robert W. Baird lowered their target price on shares of Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Barclays decreased their price objective on shares of Elastic from $124.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Finally, Rosenblatt Securities dropped their target price on shares of Elastic from $140.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Elastic has an average rating of "Moderate Buy" and a consensus price target of $110.60.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 5,117 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the completion of the transaction, the chief technology officer owned 4,560,291 shares of the company's stock, valued at $396,334,890.81. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ken Exner sold 6,918 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $601,243.38. Following the completion of the transaction, the insider directly owned 230,494 shares in the company, valued at approximately $20,032,233.54. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,913 shares of company stock worth $4,416,324 in the last 90 days. Company insiders own 15.90% of the company's stock.

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.