Styrax Capital LP Makes New Investment in Elastic N.V. $ESTC

Key Points

• Styrax Capital LP opened a new position in Elastic N.V. during Q4, buying 394,225 shares worth about $29.7 million. The stake represents about 2.3% of Styrax’s holdings and 0.37% of Elastic’s shares outstanding.
• Elastic reported better-than-expected quarterly results, 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 FY2027 and Q1 2027 guidance above current-year analyst expectations.
• Despite solid results, analyst sentiment has become mixed: several firms cut price targets, and some downgraded the stock, though the overall consensus remains Moderate Buy with an average price target of $80.04.

Styrax Capital LP acquired a new position in shares of Elastic N.V. (NYSE:ESTC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 394,225 shares of the company's stock, valued at approximately $29,740,000. Elastic comprises approximately 2.3% of Styrax Capital LP's holdings, making the stock its 13th largest holding. Styrax Capital LP owned 0.37% of Elastic at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESTC. AQR Capital Management LLC boosted its stake in Elastic by 62.5% during the third quarter. AQR Capital Management LLC now owns 2,977,361 shares of the company's stock worth $251,557,000 after buying an additional 1,145,146 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in Elastic by 490.4% during the third quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company's stock worth $94,080,000 after buying an additional 924,911 shares during the last quarter. Vanguard Group Inc. boosted its stake in Elastic by 7.4% during the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company's stock worth $862,322,000 after buying an additional 705,991 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Elastic by 305.9% during the second quarter. BNP Paribas Financial Markets now owns 832,353 shares of the company's stock worth $70,192,000 after buying an additional 627,284 shares during the last quarter. Finally, Temasek Holdings Private Ltd lifted its stake in shares of Elastic by 107.7% in the 3rd quarter. Temasek Holdings Private Ltd now owns 1,184,857 shares of the company's stock valued at $100,109,000 after purchasing an additional 614,302 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Price Performance

ESTC stock opened at $60.21 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $6.26 billion, a PE ratio of 17.20, a P/E/G ratio of 20.60 and a beta of 1.00. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The business's fifty day moving average price is $53.22 and its 200 day moving average price is $60.92.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. 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, sell-side analysts anticipate that Elastic N.V. will post 0.18 EPS for the current year.

Insider Transactions at Elastic

In related news, insider Carolyn Herzog sold 9,485 shares of the business's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $574,885.85. Following the sale, the insider owned 128,439 shares in the company, valued at approximately $7,784,687.79. The trade was a 6.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Jane E. Bone sold 1,104 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $66,913.44. Following the completion of the sale, the chief accounting officer owned 53,415 shares in the company, valued at $3,237,483.15. This represents a 2.02% decrease in their position. 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. In the last three months, insiders have sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Oppenheimer decreased their price target on Elastic from $85.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, May 29th. Wall Street Zen lowered Elastic from a "buy" rating to a "hold" rating in a research note on Saturday. Zacks Research lowered Elastic from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 28th. Piper Sandler decreased their price target on Elastic from $110.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Finally, Jefferies Financial Group decreased their price target on Elastic from $95.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, May 29th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Elastic presently has a consensus rating of "Moderate Buy" and an average price target of $80.04.

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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