Quantbot Technologies LP Cuts Stake in Elastic N.V. $ESTC

Key Points

• Quantbot Technologies LP reduced its stake in Elastic N.V. by 35.6%, selling 15,120 shares and now holding 27,390 shares valued at approximately $2.44 million.
• Several institutional investors, including Wellington Management Group LLP and Algert Global LLC, increased their positions in Elastic, reflecting growing investor confidence.
• Elastic reported a positive earnings result, with an EPS of $0.47, which surpassed analyst expectations, alongside a revenue increase of 15.9% year-over-year.

Quantbot Technologies LP trimmed its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 35.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,390 shares of the company's stock after selling 15,120 shares during the quarter. Quantbot Technologies LP's holdings in Elastic were worth $2,440,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Elastic by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 504,823 shares of the company's stock valued at $44,980,000 after purchasing an additional 22,005 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Elastic by 13.3% during the fourth quarter. Cetera Investment Advisers now owns 7,203 shares of the company's stock valued at $714,000 after purchasing an additional 843 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Elastic during the first quarter valued at about $205,000. Teacher Retirement System of Texas boosted its stake in shares of Elastic by 26.6% during the first quarter. Teacher Retirement System of Texas now owns 18,130 shares of the company's stock valued at $1,615,000 after purchasing an additional 3,813 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Elastic by 666.7% during the first quarter. Principal Financial Group Inc. now owns 55,959 shares of the company's stock valued at $4,986,000 after purchasing an additional 48,660 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Stock Up 3.1%

NYSE:ESTC traded up $2.3750 during trading hours on Friday, reaching $79.9650. The company had a trading volume of 1,404,441 shares, compared to its average volume of 1,565,534. Elastic N.V. has a twelve month low of $69.00 and a twelve month high of $118.84. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.61. The business's 50-day simple moving average is $82.74 and its two-hundred day simple moving average is $89.01. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of -76.16 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%.The company had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. During the same period in the previous year, the company posted $0.21 EPS. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. Elastic has set its FY 2026 guidance at 2.240-2.32 EPS. Q1 2026 guidance at 0.410-0.43 EPS. On average, equities analysts expect that Elastic N.V. will post -0.77 earnings per share for the current year.

Insider Activity at Elastic

In related news, insider Ken Exner sold 6,918 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $601,243.38. Following the sale, the insider directly owned 230,494 shares in the company, valued at approximately $20,032,233.54. The trade was a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $1,990,325.91. Following the sale, the chief executive officer owned 454,841 shares in the company, valued at approximately $39,530,231.31. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,913 shares of company stock worth $4,416,324 in the last 90 days. 15.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ESTC. KeyCorp began coverage on Elastic in a research report on Tuesday, June 10th. They set a "sector weight" rating for the company. Stifel Nicolaus lowered their price objective on Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Wells Fargo & Company lowered their price objective on Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. JPMorgan Chase & Co. lowered their price objective on Elastic from $120.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Finally, Wedbush lowered their price objective on Elastic from $135.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and a consensus target price of $110.60.

Elastic Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.