Neumann Advisory Hong Kong Ltd Sells 31,816 Shares of Elastic N.V. $ESTC

Key Points

• Neumann Advisory Hong Kong cut its Elastic stake by 88.5% in the second quarter, selling 31,816 shares and retaining 4,114 shares valued at approximately $235,000. Institutional investors collectively own 97.03% of Elastic.
• Elastic insiders sold shares recently, including CTO Shay Banon and CRO Mark Eugene Dodds, with sales primarily used to cover tax withholding on vested equity awards. Insiders sold 110,099 shares worth $6.67 million over the past three months.
• Analyst sentiment remains cautiously positive, with a “Moderate Buy” consensus and an average price target of $78.78. Elastic reported quarterly EPS of $0.61 versus the $0.56 estimate, while revenue rose 16% year over year to $450.68 million.

Neumann Advisory Hong Kong Ltd lessened its stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 88.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,114 shares of the company's stock after selling 31,816 shares during the period. Elastic comprises approximately 0.1% of Neumann Advisory Hong Kong Ltd's investment portfolio, making the stock its 6th largest holding. Neumann Advisory Hong Kong Ltd's holdings in Elastic were worth $235,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new stake in shares of Elastic during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. bought a new position in shares of Elastic in the second quarter valued at $31,000. Bessemer Group Inc. acquired a new position in Elastic during the first quarter worth $25,000. Activest Wealth Management increased its holdings in Elastic by 3,181.2% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company's stock worth $40,000 after buying an additional 509 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its position in Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock worth $42,000 after acquiring an additional 371 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 9,288 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $562,945.68. Following the completion of the sale, the chief technology officer owned 4,417,140 shares of the company's stock, valued at approximately $267,722,855.40. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Mark Eugene Dodds sold 18,439 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the completion of the transaction, the executive owned 298,211 shares in the company, valued at $18,074,568.71. This trade represents a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 110,099 shares of company stock worth $6,673,100 over the last three months. 12.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ESTC. Weiss Ratings raised shares of Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. Jefferies Financial Group dropped their target price on shares of Elastic from $95.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 29th. Scotiabank cut their target price on shares of Elastic from $61.00 to $58.00 and set a "sector perform" rating for the company in a research note on Friday, May 29th. Canaccord Genuity Group cut their target price on shares of Elastic from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, May 29th. Finally, Morgan Stanley cut Elastic from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $73.00 to $66.00 in a report on Tuesday, July 21st. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, Elastic presently has an average rating of "Moderate Buy" and an average price target of $78.78.

Elastic Stock Up 0.4%

Shares of ESTC opened at $69.99 on Friday. The firm has a market cap of $7.28 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 15.78 and a beta of 0.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68. Elastic N.V. has a 52 week low of $42.05 and a 52 week high of $96.07. The firm's 50-day simple moving average is $61.50 and its 200 day simple moving average is $57.21.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company had revenue of $450.68 million during the quarter, compared to analysts' expectations of $446.66 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The business's 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. On average, analysts forecast that Elastic N.V. will post 0.26 earnings per share for the current year.

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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