Hsbc Holdings PLC Sells 46,604 Shares of Elastic N.V. $ESTC

Key Points

• HSBC Holdings PLC cut its stake in Elastic by 22.7% in the fourth quarter, selling 46,604 shares and leaving it with 158,414 shares worth about $12.0 million.
• Elastic reported strong quarterly results, with EPS of $0.61 beating estimates and revenue of $450.68 million rising 16% year over year. The company also issued FY2027 guidance and Q1 2027 guidance.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and a median price target of $79.04, though several firms recently trimmed their targets.

Hsbc Holdings PLC reduced its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 22.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,414 shares of the company's stock after selling 46,604 shares during the period. Hsbc Holdings PLC owned approximately 0.15% of Elastic worth $12,001,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ESTC. Focus Partners Wealth bought a new position in Elastic in the 1st quarter worth about $494,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Elastic by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company's stock worth $98,000 after buying an additional 171 shares in the last quarter. Invesco Ltd. boosted its position in shares of Elastic by 11.7% in the second quarter. Invesco Ltd. now owns 95,332 shares of the company's stock valued at $8,039,000 after acquiring an additional 9,990 shares during the period. EverSource Wealth Advisors LLC grew its stake in Elastic by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company's stock valued at $178,000 after acquiring an additional 1,688 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Elastic by 24.7% during the second quarter. Cerity Partners LLC now owns 30,545 shares of the company's stock valued at $2,576,000 after acquiring an additional 6,056 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elastic

In other news, CRO Mark Eugene Dodds sold 18,439 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,117,587.79. Following the completion of the sale, the executive owned 298,211 shares of the company's stock, valued at approximately $18,074,568.71. The trade was a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ken Exner sold 18,449 shares of the stock in a transaction dated Tuesday, June 9th. The shares were 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 $21,821,842.57. This represents a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 110,099 shares of company stock valued at $6,673,100. 12.70% of the stock is currently owned by insiders.

Elastic Stock Up 1.5%

Shares of ESTC opened at $59.43 on Wednesday. The firm has a market cap of $6.18 billion, a P/E ratio of 16.98, a P/E/G ratio of 15.04 and a beta of 1.00. The stock has a 50 day simple moving average of $56.41 and a two-hundred day simple moving average of $59.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68. Elastic N.V. has a 1 year low of $42.05 and a 1 year high of $96.07.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same period last year, the firm posted $0.47 earnings per share. The business's revenue was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, analysts forecast that Elastic N.V. will post 0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ESTC has been the subject of several analyst reports. UBS Group reissued a "buy" rating and issued a $85.00 price target on shares of Elastic in a report on Friday, May 29th. Barclays lowered their price objective on Elastic from $76.00 to $68.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Jefferies Financial Group dropped their price objective on Elastic from $95.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 29th. Zacks Research upgraded Elastic from a "strong sell" rating to a "hold" rating in a research report on Friday, June 26th. Finally, Wall Street Zen lowered Elastic from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.04.

About Elastic

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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