Pictet Asset Management Holding SA Increases Stake in Elastic N.V. $ESTC

Key Points

• Pictet Asset Management raised its stake in Elastic by 3.2% to 4,534,498 shares, representing about 4.30% of the company and valued at roughly $342.1 million at quarter end.
• Company insiders sold a total of 38,188 shares (~$1.996 million) over the last quarter, including CTO Shay Banon (4,283 shares) and CEO Ashutosh Kulkarni (17,756 shares), though insiders still own 12.7% of the stock.
• Elastic beat quarterly expectations with EPS of $0.73 vs. $0.64 and revenue of $449.9 million (up 17.7% YoY), but several analysts have trimmed price targets and the consensus rating is a Moderate Buy with an average target of $90.77.

Pictet Asset Management Holding SA grew its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,534,498 shares of the company's stock after acquiring an additional 138,974 shares during the period. Pictet Asset Management Holding SA owned about 4.30% of Elastic worth $342,127,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Porfolio Solutions LLC increased its position in Elastic by 1.4% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company's stock valued at $726,000 after buying an additional 118 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake 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 acquiring an additional 171 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Elastic by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company's stock valued at $2,393,000 after acquiring an additional 175 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Elastic by 6.9% during the third quarter. Jones Financial Companies Lllp now owns 3,020 shares of the company's stock valued at $260,000 after acquiring an additional 194 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Elastic by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company's stock worth $7,033,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 4,283 shares of Elastic stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $223,915.24. Following the completion of the sale, the chief technology officer directly owned 4,354,945 shares in the company, valued at approximately $227,676,524.60. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 17,756 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $928,283.68. Following the completion of the sale, the chief executive officer owned 409,145 shares of the company's stock, valued at $21,390,100.60. The trade was a 4.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,188 shares of company stock worth $1,996,469 over the last quarter. 12.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Elastic from $80.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, April 16th. Morgan Stanley dropped their price objective on Elastic from $80.00 to $73.00 and set an "overweight" rating on the stock in a research report on Monday, March 2nd. Guggenheim restated a "buy" rating and set a $116.00 target price on shares of Elastic in a research note on Wednesday, February 18th. Piper Sandler dropped their price target on shares of Elastic from $110.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, February 27th. Finally, Wells Fargo & Company reduced their price target on shares of Elastic from $75.00 to $60.00 and set an "equal weight" rating for the company in a research note on Friday, February 27th. Seventeen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $90.77.

Elastic Stock Performance

Shares of NYSE ESTC opened at $46.36 on Monday. The company has a market cap of $4.80 billion, a P/E ratio of -57.96, a P/E/G ratio of 55.03 and a beta of 1.03. The firm's fifty day moving average is $51.89 and its two-hundred day moving average is $68.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 1.82. Elastic N.V. has a 52-week low of $42.05 and a 52-week high of $96.07.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The firm had revenue of $449.88 million for the quarter, compared to analysts' expectations of $438.37 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The business's revenue was up 17.7% compared to the same quarter last year. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, analysts anticipate that Elastic N.V. will post 0.04 EPS for the current fiscal year.

Elastic 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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