Hsbc Holdings PLC Increases Stock Position in Elastic N.V. $ESTC

Key Points

• HSBC Holdings PLC increased its stake in Elastic N.V. by 231.6% in the first quarter, owning 53,003 shares worth approximately $4.67 million.
• Insiders, including CEO Ashutosh Kulkarni, have been selling shares; Kulkarni sold 22,901 shares valued at nearly $1.99 million, reducing his holding by 4.79%.
• Elastic's recent earnings report showed $0.47 EPS, exceeding analyst expectations and marking a 15.9% year-over-year revenue increase.

Hsbc Holdings PLC boosted its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 231.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,003 shares of the company's stock after purchasing an additional 37,021 shares during the quarter. Hsbc Holdings PLC owned about 0.05% of Elastic worth $4,666,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. lifted its stake in Elastic by 32.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 616,133 shares of the company's stock worth $54,897,000 after purchasing an additional 151,551 shares in the last quarter. Wellington Management Group LLP lifted its position in Elastic by 114.9% during the first quarter. Wellington Management Group LLP now owns 11,632 shares of the company's stock valued at $1,036,000 after purchasing an additional 6,218 shares during the last quarter. Algert Global LLC grew its stake in shares of Elastic by 49.8% in the 1st quarter. Algert Global LLC now owns 53,579 shares of the company's stock worth $4,774,000 after buying an additional 17,810 shares in the last quarter. Northwest & Ethical Investments L.P. grew its stake in shares of Elastic by 191.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 3,492 shares of the company's stock worth $311,000 after buying an additional 2,292 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Elastic by 29.6% in the 1st quarter. American Century Companies Inc. now owns 474,411 shares of the company's stock worth $42,270,000 after buying an additional 108,308 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 22,901 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $1,990,325.91. Following the completion of the sale, the chief executive officer owned 454,841 shares in the company, valued at approximately $39,530,231.31. The trade was a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Mark Eugene Dodds sold 2,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $83.50, for a total transaction of $208,750.00. Following the completion of the sale, the executive owned 172,321 shares of the company's stock, valued at approximately $14,388,803.50. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,913 shares of company stock worth $4,416,324. 15.90% of the stock is owned by corporate insiders.

Elastic Trading Down 1.2%

Shares of ESTC opened at $79.06 on Tuesday. 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 moving average of $82.70 and a 200 day moving average of $88.59. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of -75.30 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The company had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. During the same quarter last year, the business posted $0.21 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.240-2.32 EPS. Q1 2026 guidance at 0.410-0.43 EPS. On average, research analysts expect that Elastic N.V. will post -0.77 EPS for the current year.

Analyst Ratings Changes

ESTC has been the subject of a number of recent research reports. Scotiabank dropped their price objective on shares of Elastic from $137.00 to $95.00 and set a "sector outperform" rating for the company in a research note on Friday, May 30th. Royal Bank Of Canada dropped their price objective on shares of Elastic from $119.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. JPMorgan Chase & Co. dropped their price objective on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Wall Street Zen raised shares of Elastic from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Robert W. Baird dropped their price objective on shares of Elastic from $125.00 to $115.00 and set an "outperform" 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 issued a Hold rating to the company. Based on data from MarketBeat, Elastic currently has an average rating of "Moderate Buy" and an average target price 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.

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