Versor Investments LP Reduces Stock Position in Elastic N.V. $ESTC

Key Points

• Versor Investments LP has reduced its stake in Elastic N.V. by 65.0%, dropping from 9,947 shares to 3,479 shares in the first quarter.
• Analysts have recently lowered their price targets for Elastic, with Oppenheimer reducing theirs from $120.00 to $100.00, and the consensus price target now sits at $110.60.
• Insider selling has been notable, with Ken Exner and Carolyn Herzog selling over 12,000 shares combined in early June, indicating potentially changing sentiments among company insiders.

Versor Investments LP decreased its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 65.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,479 shares of the company's stock after selling 6,468 shares during the quarter. Versor Investments LP's holdings in Elastic were worth $310,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new position in shares of Elastic in the first quarter valued at $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of Elastic in the fourth quarter valued at $26,000. Signaturefd LLC increased its position in shares of Elastic by 53.7% in the first quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after buying an additional 117 shares in the last quarter. North Capital Inc. purchased a new position in shares of Elastic in the first quarter valued at $37,000. Finally, GAMMA Investing LLC increased its position in shares of Elastic by 134.6% in the first quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $51,000 after buying an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Trading Down 1.4%

NYSE:ESTC traded down $1.09 during mid-day trading on Tuesday, reaching $77.88. The company's stock had a trading volume of 631,186 shares, compared to its average volume of 1,651,121. The company's fifty day simple moving average is $82.70 and its two-hundred day simple moving average is $88.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. Elastic N.V. has a twelve month low of $69.00 and a twelve month high of $118.84. The stock has a market cap of $8.22 billion, a P/E ratio of -74.07 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 for the quarter, beating the consensus estimate of $0.37 by $0.10. The business had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%.The company's revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. 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 predict that Elastic N.V. will post -0.77 EPS for the current year.

Insider Activity

In related news, insider Carolyn Herzog sold 5,702 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $495,560.82. Following the transaction, the insider directly owned 93,985 shares of the company's stock, valued at approximately $8,168,236.35. The trade was a 5.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Shay Banon sold 5,117 shares of Elastic stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the sale, the chief technology officer owned 4,560,291 shares in the company, valued at $396,334,890.81. This represents a 0.11% 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 ninety days. 15.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ESTC. Canaccord Genuity Group dropped their price target on Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Piper Sandler dropped their price target on Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Royal Bank Of Canada dropped their price objective on Elastic from $119.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Guggenheim dropped their price objective on Elastic from $136.00 to $107.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Finally, Monness Crespi & Hardt upgraded Elastic from a "neutral" rating to a "buy" rating and set a $111.00 price objective for the company in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Elastic currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.60.

Elastic Company 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.