SG Americas Securities LLC Has $27.43 Million Stock Holdings in Elastic N.V. $ESTC

Key Points

• SG Americas Securities LLC dramatically increased its stake in Elastic N.V. by 6,125.6% in the first quarter, ending with 548,722 shares worth about $27.4 million.
• Analyst sentiment on Elastic remains generally positive, with 18 Buy, 10 Hold, and 2 Sell ratings; the stock’s average price target is $80.04.
• Elastic recently beat earnings expectations, reporting $0.61 EPS on revenue of $450.68 million, while insiders Carolyn Herzog and Ken Exner both sold shares in June for tax withholding related to equity awards.

SG Americas Securities LLC boosted its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 6,125.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 548,722 shares of the company's stock after purchasing an additional 539,908 shares during the period. SG Americas Securities LLC owned about 0.53% of Elastic worth $27,431,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sound Income Strategies LLC bought a new position in shares of Elastic in the 4th quarter valued at $25,000. Geneos Wealth Management Inc. acquired a new position in Elastic in the 2nd quarter worth about $31,000. Activest Wealth Management increased its holdings 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 purchasing an additional 509 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in Elastic by 206.1% in 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. Finally, Quarry LP raised its position in Elastic by 16,200.0% in the fourth quarter. Quarry LP now owns 652 shares of the company's stock valued at $49,000 after purchasing an additional 648 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ESTC shares. Citigroup boosted their price target on Elastic from $95.00 to $104.00 and gave the stock a "buy" rating in a report on Friday, May 29th. TD Cowen dropped their price objective on shares of Elastic from $65.00 to $60.00 and set a "hold" rating for the company in a report on Tuesday, May 26th. Jefferies Financial Group cut their target price on shares of Elastic from $95.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, May 29th. Zacks Research lowered shares of Elastic from a "hold" rating to a "strong sell" rating in a report on Thursday, May 28th. Finally, Truist Financial decreased their price target on shares of Elastic from $105.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Elastic currently has an average rating of "Moderate Buy" and an average price target of $80.04.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 9,485 shares of the company's stock in a transaction 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 sale, the insider owned 128,439 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ken Exner sold 18,449 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,118,193.89. Following the sale, the insider owned 360,037 shares of the company's stock, valued at approximately $21,821,842.57. The trade was a 4.87% 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 have sold 110,099 shares of company stock valued at $6,673,100 over the last quarter. Company insiders own 12.70% of the company's stock.

Elastic Price Performance

Shares of ESTC opened at $58.71 on Thursday. 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 company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 15.16 and a beta of 1.00. The business has a 50-day moving average of $54.62 and a 200-day moving average of $60.36.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. The business had revenue of $450.68 million for the quarter, compared to analysts' expectations of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The firm's revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the business 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. As a group, equities research analysts anticipate that Elastic N.V. will post 0.23 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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