Ieq Capital LLC Buys 289,128 Shares of Elastic N.V. $ESTC

Ieq Capital LLC increased its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 164.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 464,414 shares of the company's stock after buying an additional 289,128 shares during the period. Ieq Capital LLC owned 0.44% of Elastic worth $35,035,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Sound Income Strategies LLC bought a new position in shares of Elastic during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the second quarter valued at approximately $31,000. Activest Wealth Management increased its position in shares of Elastic by 3,181.3% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company's stock valued at $40,000 after acquiring an additional 509 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Elastic by 75.6% during the third quarter. Smartleaf Asset Management LLC now owns 662 shares of the company's stock valued at $58,000 after acquiring an additional 285 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Elastic by 1,347.1% during the third quarter. Larson Financial Group LLC now owns 738 shares of the company's stock valued at $62,000 after acquiring an additional 687 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CTO Shay Banon sold 9,288 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $562,945.68. Following the sale, the chief technology officer owned 4,417,140 shares in the company, valued at approximately $267,722,855.40. This trade represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 firm'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 transaction of $1,118,193.89. Following the completion of the sale, the insider owned 360,037 shares in the company, valued at $21,821,842.57. This represents a 4.87% decrease in their position. 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. Insiders have sold a total of 110,099 shares of company stock valued at $6,673,100 in the last ninety days. Corporate insiders own 12.70% of the company's stock.

Elastic Trading Up 0.2%

Shares of ESTC stock opened at $60.33 on Friday. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The company has a current ratio of 1.68, a quick ratio of 1.82 and a debt-to-equity ratio of 0.45. The firm's 50 day moving average is $52.80 and its 200 day moving average is $61.10. The stock has a market capitalization of $6.27 billion, a P/E ratio of 17.24, a P/E/G ratio of 19.91 and a beta of 1.00.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (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 company had revenue of $450.68 million for the quarter, compared to analysts' expectations of $446.66 million. During the same quarter last year, the company posted $0.47 earnings per share. The firm's quarterly revenue was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Research analysts expect that Elastic N.V. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Scotiabank reduced their price target on shares of Elastic from $61.00 to $58.00 and set a "sector perform" rating for the company in a research report on Friday, May 29th. Canaccord Genuity Group reduced their price target on shares of Elastic from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, May 29th. Stifel Nicolaus set a $65.00 price target on shares of Elastic in a research report on Friday, May 29th. JPMorgan Chase & Co. reduced their price target on shares of Elastic from $99.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Elastic from a "sell (e+)" rating to a "sell (d+)" rating in a research report on Tuesday. Eighteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.04.

Elastic Company 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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