Quantinno Capital Management LP Purchases 57,191 Shares of Elastic N.V. $ESTC

Key Points

• Quantinno Capital Management increased its Elastic stake by 13.9%, purchasing 57,191 shares to hold 468,884 shares valued at approximately $23.44 million. Hedge funds and other institutional investors collectively own 97.03% of the company.
• Elastic exceeded quarterly expectations, reporting $0.61 in adjusted earnings per share versus a $0.56 consensus estimate and revenue of $450.68 million, up 16% year over year.
• Analysts maintain a Moderate Buy consensus rating, with an average price target of $78.78 versus the stock’s reported price of $65.80; however, several firms recently lowered their targets or retained Hold ratings.

Quantinno Capital Management LP grew its holdings in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 13.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 468,884 shares of the company's stock after buying an additional 57,191 shares during the period. Quantinno Capital Management LP owned 0.45% of Elastic worth $23,440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Sound Income Strategies LLC purchased a new stake in shares of Elastic in the fourth quarter worth $25,000. Bessemer Group Inc. bought a new stake in shares of Elastic in the 1st quarter worth $25,000. Geneos Wealth Management Inc. bought a new stake in shares of Elastic in the 2nd quarter worth $31,000. Activest Wealth Management raised its position in 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 buying an additional 509 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock valued at $42,000 after purchasing an additional 371 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Stock Performance

Elastic stock opened at $65.80 on Friday. The company's 50-day moving average is $60.32 and its 200 day moving average is $57.44. Elastic N.V. has a 1-year low of $42.05 and a 1-year high of $96.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market capitalization of $6.84 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 14.89 and a beta of 1.00.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. The business had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The business's revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. 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 forecast that Elastic N.V. will post 0.26 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on ESTC shares. Piper Sandler reiterated an "overweight" rating on shares of Elastic in a research report on Friday, June 26th. JPMorgan Chase & Co. decreased their price objective on shares of Elastic from $99.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 27th. The Goldman Sachs Group initiated coverage on Elastic in a report on Tuesday, April 21st. They issued a "neutral" rating and a $50.00 price target on the stock. TD Cowen decreased their price target on shares of Elastic from $65.00 to $60.00 and set a "hold" rating on the stock in a research note on Tuesday, May 26th. Finally, Zacks Research upgraded Elastic from a "strong sell" rating to a "hold" rating in a research report on Friday, June 26th. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.78.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 40,373 shares of the firm's stock in a transaction 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 directly owned 628,752 shares in the company, valued at $38,108,658.72. This trade represents a 6.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Navam Welihinda sold 12,961 shares of Elastic stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $785,566.21. Following the completion of the sale, the chief financial officer owned 209,254 shares of the company's stock, valued at $12,682,884.94. The trade was a 5.83% decrease in their ownership of the stock. 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 110,099 shares of company stock valued at $6,673,100 over the last 90 days. 12.70% of the stock is owned by insiders.

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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