Osborne Partners Capital Management LLC Buys 63,105 Shares of Elastic N.V. $ESTC

Key Points

• Osborne Partners Capital Management increased its Elastic stake by 78.8% in the first quarter, buying 63,105 additional shares and lifting its holdings to 143,144 shares valued at about $7.16 million.
• Elastic’s latest quarterly results beat expectations, with EPS of $0.61 versus the $0.56 consensus and revenue of $450.68 million, up 16% year over year. The company also issued FY 2027 guidance of 3.210-3.290 EPS.
• Analysts remain cautiously positive overall: Elastic has a Moderate Buy consensus rating and an average target price of $79.04, though several firms recently trimmed their price targets. Meanwhile, insiders sold shares in June, including CEO Ashutosh Kulkarni and insider Carolyn Herzog, largely for tax withholding obligations tied to equity awards.

Osborne Partners Capital Management LLC boosted its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 78.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,144 shares of the company's stock after buying an additional 63,105 shares during the quarter. Osborne Partners Capital Management LLC owned approximately 0.14% of Elastic worth $7,156,000 at the end of the most recent quarter.

A number of other large investors have 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 $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic in the 2nd quarter valued at $31,000. Activest Wealth Management grew its holdings in shares of Elastic by 3,181.2% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company's stock worth $40,000 after purchasing an additional 509 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of Elastic by 206.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock worth $42,000 after purchasing an additional 371 shares during the last quarter. Finally, Quarry LP increased its position in shares of Elastic by 16,200.0% during the 4th quarter. Quarry LP now owns 652 shares of the company's stock worth $49,000 after purchasing an additional 648 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wedbush cut their price target on shares of Elastic from $74.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, May 29th. Rosenblatt Securities decreased their price objective on shares of Elastic from $90.00 to $83.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Royal Bank Of Canada dropped their price objective on shares of Elastic from $80.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, April 16th. Guggenheim cut their target price on shares of Elastic from $116.00 to $106.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Finally, Jefferies Financial Group reduced their target price on Elastic from $95.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 29th. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Elastic presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.04.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $57.86 on Friday. The business has a fifty day moving average of $55.89 and a 200-day moving average of $59.51. 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 twelve month low of $42.05 and a twelve month high of $96.07. The firm has a market cap of $6.01 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 14.92 and a beta of 1.00.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly 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 business had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same quarter in the prior year, the company earned $0.47 EPS. 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. On average, equities research analysts predict that Elastic N.V. will post 0.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Carolyn Herzog sold 9,485 shares of the company'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 transaction of $574,885.85. Following the transaction, the insider directly owned 128,439 shares in the company, valued at approximately $7,784,687.79. This represents a 6.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ashutosh Kulkarni sold 40,373 shares of the company'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 $2,447,007.53. Following the transaction, the chief executive officer owned 628,752 shares in the company, valued at $38,108,658.72. The trade was a 6.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 110,099 shares of company stock valued at $6,673,100. Insiders own 12.70% of the company's stock.

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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